Gap Target of Unusually Large Options Trading (GPS)
Gap Inc (NYSE:GPS) was the recipient of some unusual options trading activity on Monday. Traders bought 619 put options on the stock. This represents an increase of approximately 443% compared to the average daily volume of 114 put options.
Shares of Gap (GPS) opened at 25.82 on Thursday. The stock has a market cap of $10.13 billion, a PE ratio of 12.30 and a beta of 0.82. Gap has a 52-week low of $21.02 and a 52-week high of $30.74. The stock’s 50 day moving average is $23.54 and its 200 day moving average is $23.70.
Gap (NYSE:GPS) last issued its earnings results on Thursday, August 17th. The apparel retailer reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.06. Gap had a net margin of 7.13% and a return on equity of 37.44%. The firm had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the prior year, the business earned $0.60 earnings per share. Gap’s revenue for the quarter was down 1.4% on a year-over-year basis. Equities research analysts forecast that Gap will post $2.06 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Wednesday, October 4th will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, October 3rd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.56%. Gap’s dividend payout ratio is 43.81%.
GPS has been the subject of several analyst reports. CIBC upgraded shares of Gap from a “market perform” rating to an “outperform” rating in a research note on Monday, June 5th. Oppenheimer Holdings, Inc. set a $28.00 price target on shares of Gap and gave the stock a “buy” rating in a research note on Thursday, August 17th. Zacks Investment Research lowered shares of Gap from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. Vetr upgraded shares of Gap from a “sell” rating to a “hold” rating and set a $24.84 price target for the company in a research note on Monday, May 15th. Finally, ValuEngine lowered shares of Gap from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Three analysts have rated the stock with a sell rating, twenty-two have given a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $25.74.
In other Gap news, EVP Paul Joseph Chapman sold 4,898 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $22.82, for a total value of $111,772.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 7,898 shares of company stock valued at $181,702. Company insiders own 27.30% of the company’s stock.
Several large investors have recently modified their holdings of GPS. Ffcm LLC boosted its position in shares of Gap by 198.0% during the second quarter. Ffcm LLC now owns 5,296 shares of the apparel retailer’s stock worth $121,000 after acquiring an additional 3,519 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Gap during the first quarter worth $127,000. James Investment Research Inc. bought a new position in shares of Gap during the second quarter worth $144,000. Penserra Capital Management LLC boosted its position in shares of Gap by 9.5% during the first quarter. Penserra Capital Management LLC now owns 5,980 shares of the apparel retailer’s stock worth $145,000 after acquiring an additional 520 shares during the last quarter. Finally, Yorktown Management & Research Co Inc bought a new position in shares of Gap during the first quarter worth $211,000. Hedge funds and other institutional investors own 56.21% of the company’s stock.
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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