The Gap, Inc. (NYSE:GAP – Get Free Report) declared a quarterly dividend on Tuesday, August 13th, NASDAQ reports. Investors of record on Wednesday, October 9th will be paid a dividend of 0.15 per share on Wednesday, October 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Wednesday, October 9th.
GAP has a dividend payout ratio of 29.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect GAP to earn $2.02 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 29.7%.
GAP Stock Down 3.0 %
NYSE:GAP opened at $20.62 on Tuesday. GAP has a 12 month low of $10.05 and a 12 month high of $30.75. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.49 and a quick ratio of 0.84. The stock has a market capitalization of $7.76 billion, a PE ratio of -0.76, a P/E/G ratio of 1.16 and a beta of 2.35.
Analysts Set New Price Targets
Several brokerages have commented on GAP. Argus raised GAP to a “hold” rating in a research report on Thursday, September 19th. Telsey Advisory Group decreased their target price on shares of GAP from $29.00 to $26.00 and set a “market perform” rating for the company in a research note on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. boosted their price target on GAP from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th.
Check Out Our Latest Stock Analysis on GAP
Insider Buying and Selling
In other news, CEO Horacio Barbeito sold 75,385 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $20.00, for a total value of $1,507,700.00. The sale was disclosed in a filing with the SEC, which is accessible through this link.
About GAP
The Gap, Inc operates as an apparel retail company. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, and Athleta brands. Its products include adult apparel and accessories; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities for women and girls.
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