Gap Sees Unusually Large Options Volume (GPS)
Gap Inc (NYSE:GPS) was the recipient of some unusual options trading activity on Friday. Stock traders acquired 5,622 call options on the company. This is an increase of 551% compared to the typical daily volume of 863 call options.
In other Gap news, Director Robert J. Fisher sold 500,000 shares of the firm’s stock in a transaction on Friday, March 31st. The shares were sold at an average price of $24.58, for a total value of $12,290,000.00. Following the transaction, the director now directly owns 8,867,728 shares of the company’s stock, valued at $217,968,754.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeff Kirwan sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $24.88, for a total transaction of $124,400.00. Following the completion of the transaction, the chief executive officer now directly owns 29,548 shares in the company, valued at $735,154.24. The disclosure for this sale can be found here. Insiders sold 506,000 shares of company stock worth $12,436,940 over the last ninety days. Insiders own 30.00% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Ameritas Investment Partners Inc. bought a new stake in shares of Gap during the first quarter worth about $127,000. Penserra Capital Management LLC increased its stake in shares of Gap by 9.5% in the first quarter. Penserra Capital Management LLC now owns 5,980 shares of the apparel retailer’s stock worth $145,000 after buying an additional 520 shares in the last quarter. Yorktown Management & Research Co Inc bought a new stake in shares of Gap during the first quarter worth about $211,000. Foster & Motley Inc. bought a new stake in shares of Gap during the first quarter worth about $217,000. Finally, Folger Hill Asset Management LP bought a new stake in shares of Gap during the fourth quarter worth about $225,000. Institutional investors own 57.87% of the company’s stock.
A number of research analysts have weighed in on GPS shares. TheStreet lowered shares of Gap from a “b-” rating to a “c” rating in a research note on Thursday, May 18th. Jefferies Group LLC set a $34.00 price target on shares of Gap and gave the company a “buy” rating in a research report on Thursday, May 4th. Vetr lowered shares of Gap from a “buy” rating to a “hold” rating and set a $24.84 price target on the stock. in a research report on Thursday, April 20th. Guggenheim assumed coverage on shares of Gap in a research report on Thursday, March 9th. They set a “neutral” rating on the stock. Finally, Wolfe Research reissued an “outperform” rating and set a $32.00 price target on shares of Gap in a research report on Friday, April 28th. Three equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and seven have given a buy rating to the stock. Gap currently has an average rating of “Hold” and an average target price of $25.97.
Shares of Gap (NYSE GPS) opened at 22.37 on Wednesday. The stock has a 50 day moving average of $24.43 and a 200-day moving average of $24.18. The company has a market capitalization of $8.86 billion, a price-to-earnings ratio of 12.93 and a beta of 0.99. Gap has a one year low of $18.56 and a one year high of $30.74.
Gap (NYSE:GPS) last issued its quarterly earnings results on Thursday, May 18th. The apparel retailer reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The company had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.39 billion. Gap had a return on equity of 32.19% and a net margin of 4.33%. Gap’s revenue was up .1% on a year-over-year basis. During the same period last year, the company earned $0.32 earnings per share. On average, equities analysts expect that Gap will post $2.00 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Wednesday, July 5th will be given a $0.23 dividend. The ex-dividend date is Friday, June 30th. This represents a $0.92 dividend on an annualized basis and a yield of 4.16%. Gap’s dividend payout ratio is presently 55.09%.
The Gap, Inc (Gap Inc) is an apparel retail company. The Company offers apparel, accessories and personal care products for men, women and children under the Gap, Banana Republic, Old Navy, Athleta and Intermix brands. Its products are available to customers online through Company-owned Websites and through the use of third-parties that provide logistics and fulfillment services.
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