Jeff Kirwan Sells 11,406 Shares of Gap Inc. (GPS) Stock
Gap Inc. (NYSE:GPS) President Jeff Kirwan sold 11,406 shares of Gap stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $25.38, for a total transaction of $289,484.28. Following the completion of the transaction, the president now directly owns 19,094 shares in the company, valued at approximately $484,605.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Gap Inc. (NYSE:GPS) opened at 26.18 on Friday. The stock’s 50 day moving average is $26.80 and its 200 day moving average is $23.42. Gap Inc. has a 12 month low of $17.00 and a 12 month high of $30.74. The firm has a market cap of $10.45 billion, a P/E ratio of 15.58 and a beta of 1.06.
Gap (NYSE:GPS) last released its earnings results on Thursday, November 17th. The apparel retailer reported $0.60 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.60. The company earned $3.80 billion during the quarter, compared to the consensus estimate of $3.74 billion. Gap had a return on equity of 32.19% and a net margin of 4.33%. Gap’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS. Equities research analysts expect that Gap Inc. will post $1.94 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Wednesday, January 4th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, December 30th. This represents a $0.92 dividend on an annualized basis and a yield of 3.51%. Gap’s payout ratio is 55.09%.
GPS has been the topic of a number of research reports. Vetr raised shares of Gap from a “buy” rating to a “strong-buy” rating and set a $27.65 price target on the stock in a research note on Tuesday, August 2nd. FBR & Co set a $22.00 price target on shares of Gap and gave the company a “hold” rating in a research note on Friday, August 5th. Mizuho raised shares of Gap from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $17.00 to $24.00 in a research note on Tuesday, August 9th. Royal Bank Of Canada lifted their price target on shares of Gap from $20.00 to $23.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 9th. Finally, RBC Capital Markets reaffirmed a “hold” rating and issued a $23.00 price target (up previously from $20.00) on shares of Gap in a research note on Tuesday, August 9th. Five analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and five have given a buy rating to the stock. Gap presently has an average rating of “Hold” and a consensus target price of $24.87.
A number of hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its stake in Gap by 11.7% in the second quarter. Pacer Advisors Inc. now owns 5,777 shares of the apparel retailer’s stock worth $123,000 after buying an additional 606 shares during the last quarter. Advisory Services Network LLC increased its stake in Gap by 22.1% in the second quarter. Advisory Services Network LLC now owns 5,869 shares of the apparel retailer’s stock worth $125,000 after buying an additional 1,062 shares during the last quarter. Americafirst Capital Management LLC purchased a new stake in Gap during the second quarter worth $139,000. Toronto Dominion Bank increased its stake in Gap by 362.7% in the third quarter. Toronto Dominion Bank now owns 6,691 shares of the apparel retailer’s stock worth $149,000 after buying an additional 5,245 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in Gap during the third quarter worth $161,000. Institutional investors own 58.77% of the company’s stock.
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Gap Company Profile
The Gap, Inc (Gap Inc) is an apparel retail company. The Company offers apparel, accessories and personal care products for men, women and children under the Gap, Banana Republic, Old Navy, Athleta and Intermix brands. Its products are available to customers online through Company-owned Websites and through the use of third-parties that provide logistics and fulfillment services.
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