Gap Inc (GPS) Plans $0.24 Quarterly Dividend

Gap Inc (NYSE:GPS) announced a quarterly dividend on Wednesday, May 22nd, RTT News reports. Investors of record on Wednesday, July 10th will be paid 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 4.47%.

GAP has increased its dividend payment by an average of 1.7% annually over the last three years. GAP has a dividend payout ratio of 37.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect GAP to earn $2.55 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 38.0%.

GPS opened at $21.68 on Thursday. The stock has a market capitalization of $8.46 billion, a PE ratio of 8.37, a P/E/G ratio of 1.02 and a beta of 0.53. The company has a current ratio of 1.96, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. GAP has a 12 month low of $21.59 and a 12 month high of $34.21.

GAP (NYSE:GPS) last issued its quarterly earnings results on Thursday, February 28th. The apparel retailer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. GAP had a return on equity of 29.65% and a net margin of 6.05%. The firm had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.72 billion. During the same period in the previous year, the firm posted $0.61 EPS. On average, analysts predict that GAP will post 2.43 earnings per share for the current year.

Several brokerages recently weighed in on GPS. Guggenheim reaffirmed a “hold” rating on shares of GAP in a report on Friday, March 1st. Standpoint Research raised shares of GAP from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Credit Suisse Group dropped their price objective on shares of GAP from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 26th. ValuEngine downgraded shares of GAP from a “sell” rating to a “strong sell” rating in a research note on Monday, May 13th. Finally, Zacks Investment Research raised shares of GAP from a “sell” rating to a “hold” rating in a report on Monday, May 13th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $29.33.

In related news, EVP Julie Gruber sold 3,286 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $24.00, for a total value of $78,864.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sonia Syngal sold 11,764 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $26.51, for a total transaction of $311,863.64. The disclosure for this sale can be found here. Company insiders own 37.60% of the company’s stock.

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GAP Company Profile

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.

Further Reading: Cost of Capital

Dividend History for GAP (NYSE:GPS)

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