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

The Gap, Inc. (NYSE:GPS) CEO Mark Breitbard sold 93,809 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 141,377 shares of the company’s stock, valued at approximately $3,978,348.78. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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 company has a current ratio of 1.42, a quick ratio of 0.78 and a debt-to-equity ratio of 0.57. The firm has a market cap of $10.19 billion, a P/E ratio of 20.37, a P/E/G ratio of 1.71 and a beta of 2.24. The Gap, Inc. has a 12-month low of $7.22 and a 12-month high of $28.59. The stock’s 50 day simple moving average is $21.04 and its 200 day simple moving average is $17.71.

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

GAP Announces Dividend

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

Wall Street Analyst Weigh In

GPS has been the subject of a number of analyst reports. JPMorgan Chase & Co. upgraded GAP from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $16.00 to $20.00 in a report on Monday, February 26th. The Goldman Sachs Group increased their target price on GAP from $18.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Evercore ISI increased their target price on GAP from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Robert W. Baird increased their target price on GAP to $23.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. Finally, Wells Fargo & Company increased their target price on GAP from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $18.89.

Institutional Investors Weigh In On GAP

Large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in GAP by 2.9% in the third quarter. Bank of New York Mellon Corp now owns 2,906,701 shares of the apparel retailer’s stock worth $30,898,000 after buying an additional 80,792 shares during the period. Teachers Retirement System of The State of Kentucky increased its holdings in shares of GAP by 90.6% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 74,080 shares of the apparel retailer’s stock valued at $787,000 after purchasing an additional 35,223 shares during the period. First Hawaiian Bank increased its holdings in shares of GAP by 17.3% during the third quarter. First Hawaiian Bank now owns 102,664 shares of the apparel retailer’s stock valued at $1,091,000 after purchasing an additional 15,158 shares during the period. SG Americas Securities LLC acquired a new position in shares of GAP during the third quarter valued at $142,000. Finally, New York State Teachers Retirement System increased its holdings in shares of GAP by 8.3% during the third quarter. New York State Teachers Retirement System now owns 260,566 shares of the apparel retailer’s stock valued at $2,770,000 after purchasing an additional 19,923 shares during the period. 58.81% of the stock is owned by institutional investors and hedge funds.

GAP Company Profile

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.