Gap (NYSE:GPS) has received a “Market Perform” recommendation from Telsey Advisory Group, according to Fintel’s report on May 26, 2023.
Analyst Price Forecast Indicates Upside Potential
As of May 11, 2023, Gap’s average one-year price target stands at 11.94. The forecasts range from a low of 7.07 to a high of $18.90. This suggests an increase of 60.88% from its latest closing price of 7.42.
Take a look at our list of companies with the highest price target upside.
Gap’s projected annual revenue for the year 2023 is $16,166MM, reflecting a growth of 3.52%. Its projected annual non-GAAP EPS stands at 0.78.
Gap Declares Dividend
Gap declared a quarterly dividend of $0.15 per share ($0.60 annualized) on May 9, 2023. The payment will be made on July 26, 2023, to shareholders of record as of July 5, 2023. The stock’s dividend yield, based on its current share price of $7.42 / share, is 8.09%.
Over the last five years, the highest dividend yield was 7.57%, the lowest being 1.32%, and the average yield was 4.27% with a standard deviation of 1.55 (n=179). Currently, the dividend yield is 2.46 standard deviations above the historical average.
Moreover, the company’s dividend payout ratio is -1.09. A payout ratio of one (1.0) indicates that 100% of a company’s income is paid out as a dividend. A payout ratio exceeding one means that the company is using its savings to maintain the dividend, a sign of an unhealthy situation. Companies expected to pay out most of their income as dividends typically have few growth prospects, and their payout ratio typically ranges from 0.5 to 1.0. In contrast, companies with good growth prospects tend to retain some earnings to invest in their growth prospects, resulting in a payout ratio of zero to 0.5.
What is the Fund Sentiment?
702 funds or institutions have reported positions in Gap, indicating a decrease of 12 owners or 1.68% in the last quarter. The average portfolio weight of all funds dedicated to GPS is 0.11%, indicating an increase of 24.19%. Institutions own 266,709K shares of Gap, representing a decrease of 1.72% in the last three months. The put/call ratio of GPS is 1.08, indicating a bearish outlook.
What are Other Shareholders Doing?
Dodge & Cox owns 37,722K shares of Gap, representing 10.26% ownership as of the prior filing. The firm decreased its GPS allocation by 12.16% over the last quarter. Pzena Investment Management owns 10,644K shares of Gap, representing ownership of 2.89% of the company. The firm decreased its GPS allocation by 15.25% over the last quarter. Citadel Advisors owns 8,684K shares of Gap, representing 2.36% ownership that increased by 28.35% in the prior filing. It increased its GPS allocation by 1.49% over the last quarter. Vanguard Total Stock Market Index Fund Investor Shares owns 7,308K shares of Gap, representing 1.99% ownership, which decreased by 16.93% over the last quarter.
Background Information on Gap
(This description is provided by the company.)
Gap Inc. is a leading global retailer offering clothing, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, Intermix, and Janie and Jack brands. The company reported net sales of $16.4 billion for the fiscal year 2019. Gap Inc. products are available worldwide through company-operated stores, franchise stores, and e-commerce sites.
Key filings for this company:
The author’s views and opinions expressed herein do not necessarily reflect those of Nasdaq, Inc.
