Gap Sees Unusually Large Options Volume (GPS)
Gap (NYSE:GPS) saw unusually large options trading on Monday. Stock investors bought 20,603 put options on the company, AnalystRatingsNetwork reports. This represents an increase of approximately 805% compared to the average volume of 2,277 put options.
In other Gap news, Insider Arthur Peck sold 128,574 shares of the company’s stock on the open market in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $41.75, for a total transaction of $5,367,964.50. Following the transaction, the insider now directly owns 20,332 shares in the company, valued at approximately $848,861. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Gap (NYSE:GPS) in a research note to investors on Wednesday, September 18th. 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 research analysts have rated the stock with a sell rating, fifteen have given a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $45.83.
Shares of Gap (NYSE:GPS) traded down 0.87% during mid-day trading on Monday, hitting $41.19. The stock had a trading volume of 2,546,534 shares. 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 $42.51 and a 200-day moving average of $40.57. The company has a market cap of $19.256 billion and a price-to-earnings ratio of 15.31.
Gap (NYSE:GPS) last announced its earnings results on Thursday, August 22nd. The company reported $0.64 earnings per share (EPS) for the quarter, meeting the 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 in the previous year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. Analysts expect that Gap will post $2.76 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 30th. Stockholders of record on Wednesday, October 16th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.94%. The ex-dividend date 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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