Key Points
- Major shareholder John Fisher sold 250,000 GAP shares at an average price of $27.75 for about $6.94 million, reducing his stake by roughly 24.98% to 750,752 shares; the transaction was disclosed in an SEC filing.
- GAP beat quarterly expectations, reporting EPS of $0.62 vs. $0.58 forecast and revenue of $3.94 billion (up 3% year-over-year), and the company announced a quarterly dividend of $0.165 (annualized $0.66) with an ex-dividend date of January 7.
The Gap, Inc. (NYSE:GAP - Get Free Report) major shareholder John Fisher sold 250,000 shares of GAP stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $27.75, for a total value of $6,937,500.00. Following the transaction, the insider owned 750,752 shares in the company, valued at $20,833,368. This represents a 24.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
GAP Stock Up 1.6%
Shares of GAP stock opened at $27.50 on Tuesday. The Gap, Inc. has a 1 year low of $16.99 and a 1 year high of $29.29. The company has a market cap of $10.23 billion, a P/E ratio of 11.75, a P/E/G ratio of 2.70 and a beta of 2.17. The company has a current ratio of 1.68, a quick ratio of 0.96 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average price of $23.05 and a 200 day moving average price of $22.57.
GAP (NYSE:GAP - Get Free Report) last issued its earnings results on Tuesday, November 25th. The company reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.04. The company had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.90 billion. GAP had a return on equity of 27.04% and a net margin of 5.86%.The firm's quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 EPS. As a group, analysts expect that The Gap, Inc. will post 2.02 EPS for the current fiscal year.
GAP Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 28th. Shareholders of record on Wednesday, January 7th will be given a $0.165 dividend. The ex-dividend date is Wednesday, January 7th. This represents a $0.66 dividend on an annualized basis and a yield of 2.4%. GAP's dividend payout ratio is presently 29.46%.
Institutional Trading of GAP
Large investors have recently made changes to their positions in the stock. LSV Asset Management bought a new position in shares of GAP in the 1st quarter valued at approximately $32,655,000. Covestor Ltd bought a new position in shares of GAP in the first quarter valued at approximately $82,000. Atlas Capital Advisors Inc. acquired a new stake in shares of GAP in the first quarter worth $264,000. Russell Investments Group Ltd. acquired a new stake in shares of GAP in the first quarter worth $3,532,000. Finally, Brooklyn Investment Group bought a new stake in shares of GAP during the 1st quarter worth $80,000. Institutional investors own 58.81% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the stock. Wells Fargo & Company boosted their price target on shares of GAP from $22.00 to $24.00 and gave the company an "equal weight" rating in a report on Friday, November 21st. JPMorgan Chase & Co. boosted their target price on GAP from $32.00 to $36.00 and gave the company an "overweight" rating in a research note on Friday, November 21st. Wall Street Zen raised GAP from a "hold" rating to a "buy" rating in a research note on Friday. Weiss Ratings reissued a "buy (b-)" rating on shares of GAP in a research note on Monday, November 24th. Finally, Evercore ISI increased their price objective on GAP from $25.00 to $28.00 and gave the stock an "outperform" rating in a report on Friday, November 21st. Eight analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $27.57.
Read Our Latest Report on GAP
About GAP
(
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Gap, Inc operates as a global apparel retail company, which offers clothing, apparel, accessories, and personal care products for men, women, and children. The firm operates through the following segments: Gap Global, Old Navy Global, Banana Republic Global, Athleta, and Other. The Gap Global segment includes apparel and accessories for men and women under the Gap brand, along with the GapKids, BabyGap, GapMaternity, GapBody, and GapFit collections.
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