Insider Selling: The Gap Director Sells 47,336 Shares of Stock (GPS)
The Gap (NYSE:GPS) Director Robert J. Fisher unloaded 47,336 shares of the stock on the open market in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $41.01, for a total transaction of $1,941,249.36. Following the sale, the director now directly owns 9,203,834 shares of the company’s stock, valued at approximately $377,449,232. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of The Gap (NYSE:GPS) traded down 0.19% on Monday, hitting $41.02. 1,986,010 shares of the company’s stock traded hands. The Gap has a 52 week low of $36.13 and a 52 week high of $46.56. The stock’s 50-day moving average is $40.63 and its 200-day moving average is $40.19. The company has a market cap of $18.078 billion and a P/E ratio of 15.74.
The Gap (NYSE:GPS) last issued its quarterly earnings data 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. Analysts expect that The Gap will post $2.94 EPS 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 2.15%. The ex-dividend date is Monday, July 7th.
Several analysts have recently commented on the stock. 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 analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus 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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