Insider Selling: Gap Insider Sells 19,827 Shares of Stock (GPS)
Gap (NYSE:GPS) Insider Jack Calhoun sold 19,827 shares of Gap stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $42.05, for a total value of $833,725.35. Following the completion of the sale, the insider now directly owns 322 shares in the company. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
GPS has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Gap (NYSE:GPS) in a research note to investors on Wednesday. They now have a $44.00 price target on the stock. Separately, analysts at Nomura initiated coverage on shares of Gap (NYSE:GPS) in a research note to investors on Monday, September 9th. They set a “neutral” rating and a $42.00 price target on the stock. Finally, analysts at Sterne Agee cut their price target on shares of Gap (NYSE:GPS) from $40.00 to $38.00 in a research note to investors on Friday, September 6th. They now have an “underperform” rating on the stock.
Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $45.83.
Gap (NYSE:GPS) traded up 0.52% during mid-day trading on Wednesday, hitting $42.31. 2,926,101 shares of the company’s stock traded hands. Gap has a 52 week low of $29.84 and a 52 week high of $46.56. The stock has a 50-day moving average of $42.95 and a 200-day moving average of $40.44. The company has a market cap of $19.780 billion and a price-to-earnings ratio of 15.51.
Gap (NYSE:GPS) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.64 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.64. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter last year, the company posted $0.49 earnings per share. Gap’s revenue was up 8.1% compared to the same quarter last year. On average, analysts predict that Gap will post $2.76 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 30th. Stockholders of record on Wednesday, October 16th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Friday, October 11th. This is a boost from Gap’s previous quarterly dividend of $0.15.
The Gap, Inc (NYSE:GPS) is a global specialty apparel company.
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