The Gap, Inc. (NYSE:GPS) CEO Mark Breitbard Sells 93,809 Shares

The Gap, Inc. (NYSE:GPS) CEO Mark Breitbard sold 93,809 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $28.14, for a total value of $2,639,785.26. Following the sale, the chief executive officer now owns 141,377 shares in the company, valued at approximately $3,978,348.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Mark Breitbard also recently made the following trade(s):

• On Friday, March 22nd, Mark Breitbard sold 27,222 shares of GAP stock. The stock was sold at an average price of $28.18, for a total value of $767,115.96.

GAP Stock Performance

GPS stock opened at $27.29 on Thursday. The firm has a market cap of $10.19 billion, a PE ratio of 20.37, a P/E/G ratio of 1.71 and a beta of 2.24. The company has a quick ratio of 0.78, a current ratio of 1.42 and a debt-to-equity ratio of 0.57. The business has a 50 day moving average of $21.04 and a 200-day moving average of $17.71. The Gap, Inc. has a 12-month low of $7.22 and a 12-month high of $28.59.

GAP (NYSE:GPS) last released its earnings results on Thursday, March 7th. The apparel retailer reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.29. The company had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.22 billion. GAP had a return on equity of 22.56% and a net margin of 3.37%. GAP’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.75) earnings per share. As a group, sell-side analysts expect that The Gap, Inc. will post 1.36 earnings per share for the current year.

GAP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Tuesday, April 9th. GAP’s dividend payout ratio is presently 44.78%.

Hedge Funds Weigh In On GAP

Several institutional investors have recently modified their holdings of the business. Marshall Wace LLP bought a new position in GAP during the fourth quarter valued at $20,617,000. Ameriprise Financial Inc. grew its holdings in GAP by 73.4% during the third quarter. Ameriprise Financial Inc. now owns 3,572,524 shares of the apparel retailer’s stock valued at $37,976,000 after purchasing an additional 1,512,067 shares during the period. BNP Paribas Arbitrage SNC grew its holdings in GAP by 57.0% during the first quarter. BNP Paribas Arbitrage SNC now owns 1,325,293 shares of the apparel retailer’s stock valued at $13,306,000 after purchasing an additional 481,339 shares during the period. American International Group Inc. grew its holdings in GAP by 470.4% during the first quarter. American International Group Inc. now owns 360,438 shares of the apparel retailer’s stock valued at $5,075,000 after purchasing an additional 297,247 shares during the period. Finally, Rhumbline Advisers grew its holdings in GAP by 54.9% during the first quarter. Rhumbline Advisers now owns 535,779 shares of the apparel retailer’s stock valued at $7,544,000 after purchasing an additional 189,872 shares during the period. 58.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Robert W. Baird lifted their target price on GAP to $23.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. The Goldman Sachs Group boosted their price objective on GAP from $18.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. BMO Capital Markets boosted their price objective on GAP from $14.00 to $18.00 and gave the company a “market perform” rating in a research note on Friday, March 22nd. TheStreet raised GAP from a “c” rating to a “b-” rating in a research note on Thursday, March 7th. Finally, Cowen boosted their price objective on GAP from $19.00 to $21.00 and gave the company a “market perform” rating in a research note on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $18.89.

About GAP

The Gap, Inc operates as an apparel retail company. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, and Athleta brands. Its products include denim and khakis; eyewear, jewelry, shoes, handbags, and fragrances; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities for women and girls.