Insider Selling: John J. Fisher Sells 152,379 Shares of The Gap Stock (GPS)
The Gap (NYSE:GPS) major shareholder John J. Fisher unloaded 152,379 shares of The Gap stock on the open market in a transaction dated Friday, May 30th. The stock was sold at an average price of $41.27, for a total value of $6,288,681.33. Following the sale, the insider now directly owns 14,649,102 shares of the company’s stock, valued at approximately $604,568,440. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
The Gap (NYSE:GPS) traded up 0.68% during mid-day trading on Monday, hitting $41.51. The stock had a trading volume of 2,705,471 shares. The Gap has a one year low of $36.13 and a one year high of $46.56. The stock’s 50-day moving average is $39.83 and its 200-day moving average is $40.22. The company has a market cap of $18.389 billion and a P/E ratio of 15.78.
The Gap (NYSE:GPS) last announced its earnings results on Thursday, May 22nd. The company reported $0.58 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.57 by $0.01. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the prior year, the company posted $0.71 earnings per share. The company’s quarterly revenue was down 99.9% on a year-over-year basis. On average, analysts predict that The Gap will post $2.94 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, July 30th. Investors of record on Wednesday, July 9th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Monday, July 7th.
GPS has been the subject of a number of recent research reports. Analysts at Canaccord Genuity raised their price target on shares of The Gap from $45.00 to $47.00 in a research note on Friday, May 9th. They now have a “hold” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of The Gap in a research note on Friday, April 11th. They now have a $41.00 price target on the stock. Finally, analysts at Telsey Advisory Group cut their price target on shares of The Gap from $50.00 to $46.00 in a research note on Friday, April 11th. They now have a “not rated” rating on the stock. Seventeen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $43.17.
The Gap, Inc (NYSE:GPS),is a global specialty apparel company.
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