GAP (NYSE:GPS) Sees Unusually-High Trading Volume Following Analyst Upgrade

The Gap, Inc. (NYSE:GPSGet Rating) saw unusually-high trading volume on Tuesday after Morgan Stanley raised their price target on the stock from $8.00 to $12.00. Morgan Stanley currently has an underweight rating on the stock. Approximately 212,259 shares changed hands during mid-day trading, a decline of 98% from the previous session’s volume of 10,446,415 shares.The stock last traded at $14.50 and had previously closed at $14.25.

Several other research firms have also commented on GPS. Citigroup raised their price objective on shares of GAP from $7.00 to $8.00 and gave the company a “sell” rating in a research note on Friday, November 11th. Barclays lifted their price target on shares of GAP from $9.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Monday. The Goldman Sachs Group lifted their price target on shares of GAP from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, August 26th. JPMorgan Chase & Co. lifted their price target on shares of GAP from $8.00 to $9.00 in a research note on Friday, September 16th. Finally, Cowen decreased their price target on shares of GAP from $12.00 to $10.00 and set a “market perform” rating for the company in a research note on Wednesday, August 31st. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, GAP has an average rating of “Hold” and a consensus target price of $11.84.

Insider Activity

In other news, CEO Mary Beth Laughton sold 11,030 shares of GAP stock in a transaction on Monday, October 31st. The shares were sold at an average price of $11.28, for a total value of $124,418.40. Following the transaction, the chief executive officer now directly owns 31,561 shares of the company’s stock, valued at approximately $356,008.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other GAP news, CEO Mary Beth Laughton sold 11,030 shares of the business’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $11.28, for a total value of $124,418.40. Following the transaction, the chief executive officer now directly owns 31,561 shares of the company’s stock, valued at approximately $356,008.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Katrina O’connell sold 31,294 shares of the business’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $14.00, for a total transaction of $438,116.00. The disclosure for this sale can be found here. Corporate insiders own 44.19% of the company’s stock.

Hedge Funds Weigh In On GAP

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Teachers Retirement System of The State of Kentucky acquired a new position in shares of GAP during the 3rd quarter worth $290,000. Captrust Financial Advisors boosted its position in shares of GAP by 26.3% in the 3rd quarter. Captrust Financial Advisors now owns 10,775 shares of the apparel retailer’s stock worth $88,000 after buying an additional 2,241 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of GAP by 1.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 114,213 shares of the apparel retailer’s stock worth $938,000 after buying an additional 2,005 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of GAP by 1.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,122,321 shares of the apparel retailer’s stock worth $25,633,000 after buying an additional 40,348 shares in the last quarter. Finally, Towle & Co boosted its position in shares of GAP by 9,453.9% in the 3rd quarter. Towle & Co now owns 2,637,840 shares of the apparel retailer’s stock worth $21,657,000 after buying an additional 2,610,230 shares in the last quarter. 57.46% of the stock is owned by institutional investors and hedge funds.

GAP Stock Up 2.9 %

The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.59 and a current ratio of 1.49. The firm’s 50-day moving average is $10.40 and its 200 day moving average is $10.05. The firm has a market capitalization of $5.34 billion, a PE ratio of 91.69 and a beta of 1.80.

GAP (NYSE:GPSGet Rating) last released its quarterly earnings data on Thursday, November 17th. The apparel retailer reported $0.71 EPS for the quarter, topping the consensus estimate of $0.01 by $0.70. The business had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.83 billion. GAP had a net margin of 0.35% and a return on equity of 4.78%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.27 EPS. As a group, research analysts forecast that The Gap, Inc. will post -0.33 earnings per share for the current fiscal year.

GAP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Shareholders of record on Wednesday, January 4th will be issued a $0.15 dividend. The ex-dividend date is Tuesday, January 3rd. This represents a $0.60 dividend on an annualized basis and a yield of 4.09%. GAP’s dividend payout ratio (DPR) is 375.02%.

About GAP

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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, tees, fleece, 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.

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