The Gap, Inc. (NYSE:GPS – Get Free Report) traded down 5.1% during trading on Tuesday . The stock traded as low as $20.71 and last traded at $20.76. 1,066,441 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 7,510,033 shares. The stock had previously closed at $21.88.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the stock. Barclays boosted their price target on shares of GAP from $26.00 to $28.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. JPMorgan Chase & Co. raised shares of GAP from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $16.00 to $20.00 in a report on Monday, February 26th. The Goldman Sachs Group boosted their price target on shares of GAP from $18.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. StockNews.com raised shares of GAP from a “hold” rating to a “buy” rating in a report on Thursday, February 15th. Finally, Telsey Advisory Group lifted their target price on shares of GAP from $17.00 to $22.00 and gave the stock a “market perform” rating in a research note on Friday, March 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, GAP presently has an average rating of “Hold” and a consensus price target of $18.89.
GAP Stock Performance
The firm’s 50-day moving average price is $22.48 and its two-hundred day moving average price is $19.14. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 1.42. The stock has a market cap of $7.83 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 1.38 and a beta of 2.28.
GAP (NYSE:GPS – Get Free Report) last posted its earnings results on Thursday, March 7th. The apparel retailer reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.29. GAP had a net margin of 3.37% and a return on equity of 22.56%. The company had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter in the prior year, the company posted ($0.75) earnings per share. GAP’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, analysts expect that The Gap, Inc. will post 1.36 EPS for the current fiscal year.
GAP Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $0.60 dividend on an annualized basis and a yield of 2.86%. GAP’s payout ratio is currently 44.78%.
Insider Buying and Selling at GAP
In other GAP news, CEO Mark Breitbard sold 27,222 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $28.18, for a total transaction of $767,115.96. Following the sale, the chief executive officer now directly owns 123,985 shares in the company, valued at $3,493,897.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Mark Breitbard sold 27,222 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $28.18, for a total transaction of $767,115.96. Following the sale, the chief executive officer now directly owns 123,985 shares in the company, valued at $3,493,897.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Katrina O’connell sold 9,818 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $27.94, for a total transaction of $274,314.92. The disclosure for this sale can be found here. Insiders have sold 266,723 shares of company stock valued at $6,886,765 over the last 90 days. 31.00% of the stock is owned by insiders.
Institutional Investors Weigh In On GAP
Several large investors have recently modified their holdings of the company. GAMMA Investing LLC acquired a new stake in shares of GAP during the fourth quarter worth $42,000. Hexagon Capital Partners LLC raised its position in GAP by 317.5% in the third quarter. Hexagon Capital Partners LLC now owns 2,793 shares of the apparel retailer’s stock worth $30,000 after acquiring an additional 2,124 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in GAP in the fourth quarter worth $73,000. Lazard Asset Management LLC increased its position in shares of GAP by 117.8% in the third quarter. Lazard Asset Management LLC now owns 4,613 shares of the apparel retailer’s stock valued at $49,000 after buying an additional 2,495 shares in the last quarter. Finally, Covestor Ltd increased its position in shares of GAP by 208.4% in the first quarter. Covestor Ltd now owns 6,923 shares of the apparel retailer’s stock valued at $97,000 after buying an additional 4,678 shares in the last quarter. 58.81% of the stock is owned by institutional investors and hedge funds.
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 adult apparel and accessories; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities for women and girls.