GAP (NYSE:GPS) Shares Gap Up to $23.52

The Gap, Inc. (NYSE:GPS - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $23.52, but opened at $24.50. GAP shares last traded at $24.14, with a volume of 737,678 shares.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Evercore ISI lifted their price objective on shares of GAP from $24.00 to $32.00 and gave the company an "outperform" rating in a report on Friday, May 31st. JPMorgan Chase & Co. boosted their price target on GAP from $20.00 to $27.00 and gave the company a "neutral" rating in a report on Friday, May 31st. Telsey Advisory Group increased their price objective on GAP from $22.00 to $29.00 and gave the stock a "market perform" rating in a research note on Friday, May 31st. BMO Capital Markets lifted their target price on GAP from $18.00 to $23.00 and gave the company a "market perform" rating in a research report on Friday, May 31st. Finally, Jefferies Financial Group increased their price target on GAP from $17.00 to $28.00 and gave the stock a "hold" rating in a research report on Friday, May 31st. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $26.51.

GAP Trading Up 4.4 %

The company's 50 day simple moving average is $23.35 and its two-hundred day simple moving average is $22.77. The company has a quick ratio of 0.80, a current ratio of 1.50 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $9.21 billion, a price-to-earnings ratio of 13.64, a P/E/G ratio of 1.40 and a beta of 2.38.

GAP (NYSE:GPS - Get Free Report) last posted its quarterly earnings data on Thursday, May 30th. The apparel retailer reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.27. GAP had a return on equity of 27.57% and a net margin of 4.52%. The firm had revenue of $3.39 billion during the quarter, compared to analysts' expectations of $3.29 billion. During the same quarter last year, the firm earned $0.01 EPS. The business's quarterly revenue was up 3.4% on a year-over-year basis. As a group, research analysts anticipate that The Gap, Inc. will post 1.78 earnings per share for the current fiscal year.

GAP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 30th. Stockholders of record on Wednesday, October 9th will be issued a dividend of $0.15 per share. The ex-dividend date is Wednesday, October 9th. This represents a $0.60 annualized dividend and a dividend yield of 2.44%. GAP's dividend payout ratio (DPR) is currently 33.33%.

Insider Activity at GAP

In other news, CFO Katrina O'connell sold 20,000 shares of the business's stock in a transaction on Friday, May 31st. The shares were sold at an average price of $29.01, for a total transaction of $580,200.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Tracy Gardner sold 2,934 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $23.48, for a total value of $68,890.32. Following the transaction, the director now owns 51,901 shares in the company, valued at approximately $1,218,635.48. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Katrina O'connell sold 20,000 shares of GAP stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $29.01, for a total transaction of $580,200.00. The disclosure for this sale can be found here. Insiders sold 23,132 shares of company stock valued at $654,003 in the last three months. 30.81% of the stock is owned by insiders.

Institutional Trading of GAP

A number of hedge funds and other institutional investors have recently made changes to their positions in GPS. GAMMA Investing LLC purchased a new stake in GAP in the fourth quarter valued at $42,000. BNP Paribas Financial Markets boosted its stake in shares of GAP by 33.0% in the fourth quarter. BNP Paribas Financial Markets now owns 367,130 shares of the apparel retailer's stock worth $7,677,000 after buying an additional 91,151 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in GAP during the fourth quarter worth about $73,000. Ontario Teachers Pension Plan Board purchased a new position in GAP during the fourth quarter valued at approximately $220,000. Finally, United Services Automobile Association acquired a new position in GAP in the fourth quarter valued at approximately $349,000. Institutional investors and hedge funds own 58.81% of the company's stock.

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 adult apparel and accessories; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities for women and girls.