Key Points
- Insider sale: Julie Gruber sold 30,000 GAP shares on Dec. 17 at $28 each for $840,000, cutting her ownership by 44.51% to 37,395 shares; she also sold 62,073 shares on Nov. 25.
- Earnings beat: GAP topped estimates for the quarter with EPS of $0.62 versus $0.58 and revenue of $3.94 billion (up 3% year-over-year).
- Dividend and analyst sentiment: GAP declared a $0.165 quarterly dividend (annualized $0.66, yield 2.4%) while analysts have raised targets and the consensus rating is a "Moderate Buy" with a $28.86 price target.
The Gap, Inc. (NYSE:GAP - Get Free Report) insider Julie Gruber sold 30,000 shares of the business's stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $28.00, for a total value of $840,000.00. Following the completion of the transaction, the insider directly owned 37,395 shares of the company's stock, valued at approximately $1,047,060. This trade represents a 44.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Julie Gruber also recently made the following trade(s):
- On Tuesday, November 25th, Julie Gruber sold 62,073 shares of GAP stock. The shares were sold at an average price of $27.00, for a total value of $1,675,971.00.
GAP Trading Up 0.5%
GAP stock opened at $27.32 on Friday. The stock has a 50-day moving average price of $24.36 and a 200 day moving average price of $22.56. The Gap, Inc. has a 52 week low of $16.99 and a 52 week high of $29.29. The stock has a market cap of $10.16 billion, a PE ratio of 12.20, a P/E/G ratio of 3.02 and a beta of 2.28. 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 released its quarterly earnings results on Tuesday, November 25th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. The company had revenue of $3.94 billion for the quarter, compared to analysts' expectations of $3.90 billion. GAP had a net margin of 5.57% and a return on equity of 24.91%. The firm's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the company earned $0.72 EPS. Equities research analysts predict that The Gap, Inc. will post 2.02 earnings per share for the current fiscal year.
GAP Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 28th. Shareholders of record on Wednesday, January 7th will be issued a $0.165 dividend. The ex-dividend date is Wednesday, January 7th. This represents a $0.66 annualized dividend and a yield of 2.4%. GAP's payout ratio is 29.46%.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on GAP shares. BTIG Research raised their price objective on GAP from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Friday, November 21st. Robert W. Baird set a $33.00 target price on GAP and gave the stock an "outperform" rating in a research report on Wednesday. JPMorgan Chase & Co. raised their price target on GAP from $32.00 to $36.00 and gave the stock an "overweight" rating in a research note on Friday, November 21st. Baird R W upgraded GAP from a "hold" rating to a "strong-buy" rating in a report on Wednesday. Finally, Telsey Advisory Group upgraded shares of GAP from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $26.00 to $32.00 in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $28.86.
Check Out Our Latest Analysis on GAP
Hedge Funds Weigh In On GAP
Several hedge funds and other institutional investors have recently modified their holdings of the company. Caisse DE Depot ET Placement DU Quebec purchased a new position in GAP in the first quarter valued at approximately $7,207,000. Ameriprise Financial Inc. purchased a new stake in GAP during the first quarter worth approximately $63,674,000. Russell Investments Group Ltd. acquired a new stake in shares of GAP in the first quarter worth $3,532,000. Strs Ohio acquired a new stake in shares of GAP in the first quarter worth $856,000. Finally, LSV Asset Management raised its stake in shares of GAP by 101.0% in the 2nd quarter. LSV Asset Management now owns 3,184,477 shares of the company's stock valued at $69,453,000 after acquiring an additional 1,600,041 shares during the period. 58.81% of the stock is owned by institutional investors and hedge funds.
About GAP
(
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.
Further Reading
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