Fintel reports that on May 7, 2024, Citigroup upgraded their outlook for Gap (NYSE:GPS) from Neutral to Buy.
Analyst Price Forecast Suggests 2.33% Downside
As of May 2, 2024, the average one-year price target for Gap is 21.69. The forecasts range from a low of 9.09 to a high of $33.60. The average price target represents a decrease of 2.33% from its latest reported closing price of 22.21.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Gap is 16,707MM, an increase of 12.21%. The projected annual non-GAAP EPS is 1.08.
Gap Declares $0.15 Dividend
On February 27, 2024 the company declared a regular quarterly dividend of $0.15 per share ($0.60 annualized). Shareholders of record as of April 10, 2024 received the payment on May 1, 2024. Previously, the company paid $0.15 per share.
At the current share price of 22.21 / share, the stocks dividend yield is {1}%.
The current dividend yield is 1.05 standard deviations below the historical average.
Additionally, the companys dividend payout ratio is {0}. The payout ratio tells us how much of a companys income is paid out in dividends. A payout ratio of one (1.0) means 100% of the companys income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
What is the Fund Sentiment?
There are 812 funds or institutions reporting positions in Gap. This is an increase of 81 owner(s) or 11.08% in the last quarter. Average portfolio weight of all funds dedicated to GPS is 0.15%, an increase of 17.92%. Total shares owned by institutions decreased in the last three months by 7.29% to 277,517K shares. 
The put/call ratio of GPS is 0.93, indicating a bullish outlook.
What are Other Shareholders Doing?
Dodge & Cox holds 37,091K shares representing 9.93% ownership of the company. In its prior filing, the firm reported owning 37,338K shares , representing a decrease of 0.67%. The firm increased its portfolio allocation in GPS by 84.05% over the last quarter.
DODGX - Dodge & Cox Stock Fund holds 26,878K shares representing 7.20% ownership of the company. No change in the last quarter.
Arrowstreet Capital, Limited Partnership holds 10,625K shares representing 2.84% ownership of the company. In its prior filing, the firm reported owning 9,455K shares , representing an increase of 11.01%. The firm increased its portfolio allocation in GPS by 91.78% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 6,512K shares representing 1.74% ownership of the company. In its prior filing, the firm reported owning 6,672K shares , representing a decrease of 2.45%. The firm increased its portfolio allocation in GPS by 77.44% over the last quarter.
Two Sigma Investments holds 5,928K shares representing 1.59% ownership of the company. In its prior filing, the firm reported owning 3,035K shares , representing an increase of 48.81%. The firm increased its portfolio allocation in GPS by 228.06% over the last quarter.
Gap Background Information
(This description is provided by the company.)
Gap Inc., a collection of purpose-led lifestyle brands, 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. Fiscal year 2019 net sales were $16.4 billion. Gap Inc. products are available for purchase worldwide through company-operated stores, franchise stores, and e-commerce sites.
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