The Gap, Inc. (NYSE:GPS – Get Rating) CFO Katrina O’connell sold 31,294 shares of the company’s shares in a transaction on Friday, November 18. The stock sold at an average price of $14.00 for a total transaction of $438,116.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission available at this hyperlink.
GAP price development
Shares of NYSE:GPS rose $0.42 on Tuesday to hit $14.67. The company had a trading volume of 13,255,011 shares compared to its average volume of 9,738,306. The company has a 50-day moving average of $10.29 and a 200-day moving average of $10.04. The company has a market cap of $5.34 billion, a P/E of 91.76 and a beta of 1.80. The Gap, Inc. has a 52-week low of $7.79 and a 52-week high of $23.69. The company has a current ratio of 1.49, a quick ratio of 0.59 and a debt-to-equity ratio of 0.71.
GAP (NYSE:GPS – Get Rating) last released its quarterly earnings data on Thursday, November 17th. The apparel retailer reported earnings per share (EPS) of $0.71 for the quarter, beating analysts’ consensus estimate of $0.01 by $0.70. GAP had a return on equity of 4.78% and a net margin of 0.35%. The company made $4.04 billion in revenue for the quarter, compared to analysts’ expectations of $3.83 billion. In the same period last year, the company generated earnings per share of $0.27. The company’s revenue rose 2.4% year over year. As a group, equity analysts expect The Gap, Inc. to report earnings per share of -0.33 for the current fiscal year.
GAP Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Wednesday, January 4 will receive a dividend of $0.15 per share. That equates to an annualized dividend of $0.60 and a dividend yield of 4.09%. The ex-dividend date is Tuesday 3rd January. GAP’s payout ratio is currently 375.02%.
Wall Street analyst ponders
A number of equities research analysts recently covered GPS stocks. Morgan Stanley raised its target price on GAP shares to $12.00 from $8.00 and listed the company as “underweight” in a report Tuesday. Citigroup raised its price target on GAP to $8.00 from $7.00 and issued a research note on Friday, November 11th with a “sell” rating of the company. Cowen lowered his price target on GAP to $10.00 from $12.00 and gave the stock a “Market Perform” rating in a report on Wednesday, August 31. StockNews.com upgraded GAP from a “sell” rating to a “hold” rating in a report Monday. Finally, on Friday, September, JPMorgan Chase & Co. increased its price target on GAP shares to $9.00 from $8.00 in a research note. Five research analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $11.84.
Institutional Trading by GAP
Hedge funds have recently bought and sold shares in the company. The New York State Common Retirement Fund increased its holding in GAP by 18.4% in the first quarter. The New York State Common Retirement Fund now owns 324,280 shares of the apparel retailer, valued at $4,566,000, after purchasing an additional 50,463 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in GAP valued at $348,000 during the first quarter. Bank of New York Mellon Corp increased its position in GAP shares by 15.3% during the first quarter. Bank of New York Mellon Corp now owns 3,138,643 shares of the apparel retailer, valued at $44,192,000, after buying another 415,813 shares last quarter. US Bancorp DE increased its position in GAP shares by 34.9% during the first quarter. US Bancorp DE now owns 12,100 shares of the apparel retailer, valued at $170,000, after buying another 3,132 shares last quarter. Finally, Pinebridge Investments LP increased its stake in GAP by 104.3% during the first quarter. Pinebridge Investments LP now owns 445,547 shares of the apparel retailer, valued at $6,273,000, after purchasing an additional 227,512 shares last quarter. Hedge funds and other institutional investors own 57.46% of the company’s shares.
GAP company profile
The Gap, Inc operates as an apparel retail company. The Company offers apparel, accessories and personal care products for men, women and children under the Old Navy, Gap, Banana Republic and Athleta brands. Its products include denim, t-shirts, fleece and khakis; glasses, jewellery, shoes, handbags and fragrances; and fitness and lifestyle products for use in yoga, exercise, sports, travel and everyday activities for women and girls.
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