The Gap CEO Glenn Murphy Sells 600,000 Shares (GPS)
The Gap (NYSE:GPS) CEO Glenn Murphy unloaded 600,000 shares of the stock on the open market in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $45.50, for a total transaction of $27,300,000.00. Following the sale, the chief executive officer now directly owns 210,064 shares in the company, valued at approximately $9,557,912. The transaction was disclosed in a filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on GPS shares. Analysts at Cowen and Company raised their price target on shares of The Gap from $41.00 to $48.00 in a research note on Tuesday. Separately, analysts at Telsey Advisory Group raised their price target on shares of The Gap from $48.00 to $50.00 in a research note on Friday. They now have a “not rated” rating on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of The Gap from $48.00 to $50.00 in a research note on Friday. They now have a “buy” rating on the stock. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The Gap currently has an average rating of “Hold” and an average target price of $42.34.
The Gap (NYSE:GPS) traded up 0.92% during mid-day trading on Tuesday, hitting $46.13. The stock had a trading volume of 1,052,906 shares. The Gap has a 52 week low of $36.13 and a 52 week high of $46.24. The stock’s 50-day moving average is $41.16 and its 200-day moving average is $41.08. The company has a market cap of $20.020 billion and a price-to-earnings ratio of 16.85.
The Gap (NYSE:GPS) last issued its quarterly earnings data on Thursday, August 21st. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. The company had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. Analysts expect that The Gap will post $2.96 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 29th. Stockholders of record on Wednesday, October 8th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Monday, October 6th.
The Gap, Inc (NYSE:GPS),is a global specialty apparel company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.