Tracy Gardner Sells 2,934 Shares of The Gap, Inc. (NYSE:GPS) Stock

The Gap, Inc. (NYSE:GPS) Director Tracy Gardner sold 2,934 shares of GAP stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $23.48, for a total transaction of $68,890.32. Following the completion of the transaction, the director now directly owns 51,901 shares in the company, valued at approximately $1,218,635.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

GAP Stock Down 2.6 %

Shares of GAP stock traded down $0.61 on Monday, hitting $23.28. 5,234,173 shares of the company traded hands, compared to its average volume of 7,945,393. The Gap, Inc. has a 12-month low of $8.58 and a 12-month high of $30.75. The company has a quick ratio of 0.80, a current ratio of 1.50 and a debt-to-equity ratio of 0.55. The company has a market cap of $8.73 billion, a PE ratio of 12.93, a PEG ratio of 4.07 and a beta of 2.39. The company has a 50-day moving average price of $23.28 and a 200 day moving average price of $22.13.

GAP (NYSE:GPS) last issued its earnings results on Thursday, May 30th. The apparel retailer reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.27. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.29 billion. GAP had a return on equity of 27.57% and a net margin of 4.52%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.01 EPS. Sell-side analysts predict that The Gap, Inc. will post 1.74 earnings per share for the current year.

GAP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Wednesday, July 10th. GAP’s dividend payout ratio is 33.33%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. BMO Capital Markets lifted their price target on shares of GAP from $18.00 to $23.00 and gave the stock a “market perform” rating in a research report on Friday, May 31st. Telsey Advisory Group boosted their target price on GAP from $22.00 to $29.00 and gave the stock a “market perform” rating in a research report on Friday, May 31st. Daiwa America upgraded GAP to a “moderate buy” rating in a research report on Wednesday, June 5th. TD Cowen raised GAP from a “hold” rating to a “buy” rating and lifted their price target for the stock from $28.00 to $30.00 in a research note on Tuesday, June 25th. Finally, The Goldman Sachs Group upped their price objective on shares of GAP from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $25.98.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GPS. Plato Investment Management Ltd grew its holdings in GAP by 37.2% during the first quarter. Plato Investment Management Ltd now owns 1,965 shares of the apparel retailer’s stock valued at $54,000 after purchasing an additional 533 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of GAP during the 4th quarter worth $42,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in GAP in the 4th quarter valued at $73,000. SVB Wealth LLC bought a new position in GAP in the 1st quarter worth $207,000. Finally, VitalStone Financial LLC acquired a new position in GAP during the 4th quarter worth $197,000. Institutional investors own 58.81% of the company’s stock.

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.