Key Points
- Director Robert Fisher sold 500,000 shares of GAP on Dec. 1 at an average price of $27.45, netting about $13.725M and trimming his stake by 17.67% to 2,329,502 shares (≈$63.94M).
- GAP beat expectations for the latest quarter with $0.62 EPS versus $0.58 expected and revenue of $3.94 billion, up 3.0% year-over-year.
- GAP declared a quarterly dividend of $0.165 per share (annualized $0.66, ~2.5% yield), with an ex-dividend date of Jan. 7 and payment on Jan. 28.
The Gap, Inc. (NYSE:GAP - Get Free Report) Director Robert Fisher sold 500,000 shares of the company's stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $27.45, for a total value of $13,725,000.00. Following the completion of the transaction, the director directly owned 2,329,502 shares of the company's stock, valued at approximately $63,944,829.90. This trade represents a 17.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
GAP Price Performance
Shares of NYSE:GAP opened at $26.83 on Thursday. The Gap, Inc. has a 1-year low of $16.99 and a 1-year high of $29.29. The firm has a market capitalization of $9.98 billion, a PE ratio of 11.98, a PEG ratio of 3.06 and a beta of 2.28. The business's 50 day moving average is $23.21 and its 200-day moving average is $22.60. The company has a current ratio of 1.72, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41.
GAP (NYSE:GAP - Get Free Report) last issued its earnings results on Tuesday, November 25th. The company reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.04. GAP had a return on equity of 24.91% and a net margin of 5.57%.The business had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.90 billion. During the same period in the prior year, the company posted $0.72 earnings per share. GAP's revenue was up 3.0% on a year-over-year basis. Sell-side analysts predict that The Gap, Inc. will post 2.02 earnings per share for the current year.
GAP Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 28th. Stockholders of record on Wednesday, January 7th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, January 7th. GAP's dividend payout ratio (DPR) is presently 29.46%.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the company. Dodge & Cox bought a new stake in GAP during the 1st quarter worth approximately $592,222,000. Ameriprise Financial Inc. raised its position in GAP by 4.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,588,800 shares of the company's stock valued at $98,154,000 after purchasing an additional 180,991 shares during the last quarter. Geode Capital Management LLC boosted its stake in GAP by 3.8% in the second quarter. Geode Capital Management LLC now owns 4,166,545 shares of the company's stock worth $91,399,000 after purchasing an additional 151,297 shares in the last quarter. LSV Asset Management grew its holdings in shares of GAP by 4.9% during the third quarter. LSV Asset Management now owns 3,341,701 shares of the company's stock worth $71,479,000 after purchasing an additional 157,224 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of GAP by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 2,899,563 shares of the company's stock valued at $63,239,000 after buying an additional 145,427 shares in the last quarter. Institutional investors own 58.81% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on GAP shares. JPMorgan Chase & Co. lifted their target price on shares of GAP from $32.00 to $36.00 and gave the company an "overweight" rating in a research report on Friday, November 21st. Telsey Advisory Group raised their price target on shares of GAP from $24.00 to $26.00 and gave the stock a "market perform" rating in a research note on Friday, November 21st. Wall Street Zen raised GAP from a "hold" rating to a "buy" rating in a report on Friday, November 28th. UBS Group increased their target price on GAP from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Friday, November 21st. Finally, Bank of America boosted their price target on GAP from $23.00 to $27.00 and gave the company a "neutral" rating in a research note on Friday, November 21st. Eight research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, GAP has an average rating of "Moderate Buy" and a consensus price target of $27.57.
Read Our Latest Stock Analysis on GAP
GAP Company Profile
(
Get Free Report)
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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