Insider Selling: The Gap Director Sells 202,664 Shares of Stock (GPS)
The Gap (NYSE:GPS) Director Robert J. Fisher sold 202,664 shares of the company’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $41.16, for a total transaction of $8,341,650.24. Following the transaction, the director now directly owns 9,251,170 shares in the company, valued at approximately $380,778,157. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
The Gap (NYSE:GPS) traded down 0.59% on Thursday, hitting $40.74. 1,804,673 shares of the company’s stock traded hands. The Gap has a 1-year low of $36.13 and a 1-year high of $46.56. The stock’s 50-day moving average is $40. and its 200-day moving average is $40.19. The company has a market cap of $18.048 billion and a P/E ratio of 15.69.
The Gap (NYSE:GPS) last announced its earnings results on Thursday, May 22nd. The company reported $0.58 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.71 earnings per share. The Gap’s revenue was down 99.9% compared to the same quarter last year. 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. Shareholders 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 2.16%. The ex-dividend date is Monday, July 7th.
A number of research firms have recently commented on GPS. Analysts at Wedbush initiated coverage on shares of The Gap in a research note on Wednesday, June 4th. They set a “neutral” rating and a $44.00 price target on the stock. Separately, 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. Finally, 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. Sixteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The Gap has an average rating of “Hold” and a consensus price target of $43.13.
The Gap, Inc (NYSE:GPS),is a global specialty apparel company.
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