Gap Inc Plans Quarterly Dividend of $0.24 (NYSE:GPS)

Gap Inc (NYSE:GPS) announced a quarterly dividend on Wednesday, May 22nd, RTT News reports. Investors of record on Wednesday, July 10th will be given a dividend of 0.2425 per share by the apparel retailer on Wednesday, July 31st. This represents a $0.97 dividend on an annualized basis and a dividend yield of 5.20%. The ex-dividend date of this dividend is Tuesday, July 9th.

GAP has raised its dividend by an average of 1.7% annually over the last three years. GAP has a payout ratio of 37.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect GAP to earn $2.16 per share next year, which means the company should continue to be able to cover its $0.97 annual dividend with an expected future payout ratio of 44.9%.

GAP stock opened at $18.66 on Friday. The company has a 50 day simple moving average of $18.59. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.70 and a current ratio of 1.49. The stock has a market capitalization of $7.05 billion, a P/E ratio of 7.74, a PEG ratio of 1.00 and a beta of 0.71. GAP has a 1-year low of $17.12 and a 1-year high of $32.98.

GAP (NYSE:GPS) last posted its earnings results on Thursday, May 30th. The apparel retailer reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.07). The firm had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.78 billion. GAP had a return on equity of 26.73% and a net margin of 6.46%. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.42 earnings per share. Research analysts expect that GAP will post 2.07 EPS for the current fiscal year.

GPS has been the subject of a number of analyst reports. B. Riley set a $18.00 price target on TiVo and gave the stock a “buy” rating in a report on Friday, May 31st. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a report on Monday, May 13th. Argus reissued a “hold” rating on shares of GAP in a report on Tuesday, June 4th. TheStreet raised SUMMIT THERAPEU/S from a “d” rating to a “c-” rating in a report on Thursday, June 13th. Finally, Guggenheim reiterated a “hold” rating on shares of GAP in a research note on Sunday, April 21st. Five investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $25.28.

In related news, EVP Julie Gruber sold 3,286 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $24.00, for a total value of $78,864.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mcneil S. Fiske, Jr. sold 16,183 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $18.00, for a total value of $291,294.00. Following the completion of the transaction, the chief executive officer now directly owns 32,500 shares of the company’s stock, valued at approximately $585,000. The disclosure for this sale can be found here. 37.60% of the stock is owned by corporate insiders.

About GAP

The Gap, Inc operates as an apparel retail company worldwide. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, Intermix, and Hill City brands. Its products include denim, tees, button-downs, khakis, and other products; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities to women and girls.

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Dividend History for GAP (NYSE:GPS)

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