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The Gap Inc. (NYSE: GPS) Shares Are Heading Higher

In the last trading session, 9.86 million shares of the The Gap Inc. (NYSE:GPS) were traded, and its beta was 1.91. Most recently the company’s share price was $7.60, and it changed around -$0.35 or -4.40% from the last close, which brings the market valuation of the company to $2.91B. GPS currently trades at a discount to its 52-week high of $15.49, offering almost -103.82% off that amount. The share price’s 52-week low was $7.48, which indicates that the current value has risen by an impressive 1.58% since then. We note from The Gap Inc.’s average daily trading volume that its 10-day average is 8.57 million shares, with the 3-month average coming to 9.10 million.

The Gap Inc. (NYSE:GPS) trade information

Instantly GPS has showed a red trend with a performance of -4.40% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 8.14 on Tuesday, 05/23/23 increased the stock’s daily price by 6.63%. The company’s shares are currently down -32.62% year-to-date, but still up 1.60% over the last five days. On the other hand, The Gap Inc. (NYSE:GPS) is -24.53% up in the 30-day period. We can see from the shorts that 29.56 million shares have been sold at a short interest cover period of 3.51 day(s).

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The Gap Inc. (GPS) estimates and forecasts

The Gap Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -44.40 percent over the past six months and at a 245.00% annual growth rate that is well above the industry average of -0.30%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 63.60% in revenue this quarter, and will report an increase of 100.00% in the next quarter. The year-over-year growth rate is expected to be -3.50%, down from the previous year.

Consensus estimates provided by 13 financial analysts predict the company will bring in an average of $3.29 billion in revenue for the current quarter. 13 analysts expect The Gap Inc. to make $3.67 billion in revenue for the quarter ending Jul 2023. The company’s sales for the same quarters a year ago were $3.48 billion and $3.86 billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -5.50%. Forecasts for the next quarter put sales growth at -5.00%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -17.60%. The Gap Inc. earnings are expected to increase by -188.60% in 2023, but the outlook is negative -3.21% per year for the next five years.

GPS Dividends

The Gap Inc.’s next quarterly earnings report is expected to be released on May 25. The annual dividend yield of the stock is 7.89 percent and its annual dividend per share was 0.60. It is important to note, however, that the 7.89% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

The Gap Inc. (NYSE:GPS)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 51.06% of The Gap Inc. shares, and 60.66% of them are in the hands of institutional investors. The stock currently has a share float of 123.95%. The Gap Inc. stock is held by 502 institutions, with Dodge & Cox Inc being the largest institutional investor. By Mar 30, 2023, it held 10.30% of the shares, which is about 37.72 million shares worth $378.73 million.

Vanguard Group, Inc. (The), with 6.35% or 23.24 million shares worth $233.3 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

Dodge & Cox Stock Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Dec 30, 2022. The former held 26.63 million shares worth $300.41 million, making up 7.27% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 7.23 million shares worth around $81.56 million, which represents about 1.97% of the total shares outstanding.

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