Gap Inc (NYSE:GPS) CEO Mcneil S. Fiske, Jr. sold 16,183 shares of GAP stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $18.00, for a total transaction of $291,294.00. Following the sale, the chief executive officer now owns 32,500 shares of the company’s stock, valued at approximately $585,000. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
GAP stock opened at $17.64 on Thursday. The business’s 50 day moving average price is $20.15. Gap Inc has a fifty-two week low of $17.12 and a fifty-two week high of $34.19. The company has a market cap of $6.61 billion, a price-to-earnings ratio of 6.81, a price-to-earnings-growth ratio of 0.95 and a beta of 0.78. The company has a quick ratio of 0.70, a current ratio of 1.49 and a debt-to-equity ratio of 1.92.
GAP (NYSE:GPS) last released its quarterly earnings data on Thursday, May 30th. The apparel retailer reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.07). GAP had a return on equity of 26.73% and a net margin of 6.46%. The firm had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the previous year, the business earned $0.42 EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. As a group, research analysts anticipate that Gap Inc will post 2.07 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th will be paid a dividend of $0.2425 per share. This represents a $0.97 annualized dividend and a yield of 5.50%. The ex-dividend date of this dividend is Tuesday, July 9th. GAP’s payout ratio is 37.45%.
A number of institutional investors and hedge funds have recently made changes to their positions in GPS. BlackRock Inc. lifted its stake in GAP by 28.2% in the first quarter. BlackRock Inc. now owns 20,412,955 shares of the apparel retailer’s stock valued at $534,413,000 after buying an additional 4,491,047 shares in the last quarter. Norges Bank bought a new position in GAP in the fourth quarter valued at approximately $82,347,000. Vanguard Group Inc lifted its stake in GAP by 5.4% in the third quarter. Vanguard Group Inc now owns 27,822,458 shares of the apparel retailer’s stock valued at $802,678,000 after buying an additional 1,433,737 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in GAP by 10.7% in the fourth quarter. Bank of New York Mellon Corp now owns 13,954,639 shares of the apparel retailer’s stock valued at $359,471,000 after buying an additional 1,352,026 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in GAP by 31.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,975,433 shares of the apparel retailer’s stock valued at $102,406,000 after buying an additional 960,583 shares in the last quarter. 57.75% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently commented on the stock. TheStreet cut shares of GAP from a “b-” rating to a “c+” rating in a research report on Thursday, June 13th. Zacks Investment Research upgraded shares of GAP from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Guggenheim reissued a “hold” rating on shares of GAP in a research note on Sunday, April 21st. ValuEngine lowered shares of GAP from a “sell” rating to a “strong sell” rating in a research note on Monday, May 13th. Finally, Wedbush reduced their price objective on shares of GAP from $23.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Five research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $25.28.
The Gap, Inc operates as an apparel retail company worldwide. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, Intermix, and Hill City brands. Its products include denim, tees, button-downs, khakis, and other products; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities to women and girls.
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