GAP (NYSE:GPS) Stock Price Down 5.1%

The Gap, Inc. (NYSE:GPS) fell 5.1% on Tuesday . The stock traded as low as $20.71 and last traded at $20.76. 1,066,441 shares traded hands during trading, a decline of 86% from the average session volume of 7,510,033 shares. The stock had previously closed at $21.88.

Analyst Ratings Changes

Several research firms have weighed in on GPS. Cowen lifted their price objective on shares of GAP from $19.00 to $21.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. Robert W. Baird lifted their price objective on shares of GAP to $23.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. KGI Securities lifted their price objective on shares of GAP from $9.10 to $25.20 and gave the company a “buy” rating in a research note on Friday, March 22nd. Telsey Advisory Group lifted their price objective on shares of GAP from $17.00 to $22.00 and gave the company a “market perform” rating in a research note on Friday, March 8th. Finally, Wells Fargo & Company lifted their price objective on shares of GAP from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, GAP currently has a consensus rating of “Hold” and an average price target of $18.89.

GAP Stock Performance

The firm has a market cap of $7.92 billion, a P/E ratio of 15.82, a PEG ratio of 1.29 and a beta of 2.28. The stock’s 50 day moving average is $22.51 and its two-hundred day moving average is $19.15. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.42 and a quick ratio of 0.78.

GAP (NYSE:GPS) last issued its quarterly earnings data on Thursday, March 7th. The apparel retailer reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.29. The firm had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.22 billion. GAP had a net margin of 3.37% and a return on equity of 22.56%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.75) earnings per share. As a group, equities analysts predict that The Gap, Inc. will post 1.36 EPS for the current year.

GAP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a dividend of $0.15 per share. The ex-dividend date is Tuesday, April 9th. This represents a $0.60 annualized dividend and a yield of 2.83%. GAP’s dividend payout ratio is 44.78%.

Insiders Place Their Bets

In other news, CFO Katrina O’connell sold 2,724 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $23.70, for a total transaction of $64,558.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Mark Breitbard sold 27,222 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $28.18, for a total value of $767,115.96. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Katrina O’connell sold 2,724 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $23.70, for a total transaction of $64,558.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 266,723 shares of company stock valued at $6,886,765. 30.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GAP

Several large investors have recently bought and sold shares of GPS. Hennessy Advisors Inc. raised its holdings in GAP by 14.1% in the first quarter. Hennessy Advisors Inc. now owns 2,305,600 shares of the apparel retailer’s stock worth $63,519,000 after purchasing an additional 285,000 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of GAP by 2.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 81,384 shares of the apparel retailer’s stock worth $1,702,000 after acquiring an additional 2,223 shares in the last quarter. Putnam Investments LLC grew its position in GAP by 148.6% in the fourth quarter. Putnam Investments LLC now owns 67,756 shares of the apparel retailer’s stock valued at $1,417,000 after purchasing an additional 40,503 shares in the last quarter. VitalStone Financial LLC bought a new position in GAP in the fourth quarter valued at $197,000. Finally, State of Tennessee Treasury Department bought a new position in GAP in the fourth quarter valued at $2,363,000. 58.81% of the stock is currently owned by institutional investors and hedge funds.

About GAP

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.