The Gap, Inc. (NYSE:GAP) CEO Mark Breitbard Sells 51,385 Shares

The Gap, Inc. (NYSE:GAP) CEO Mark Breitbard sold 51,385 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $27.00, for a total value of $1,387,395.00. Following the transaction, the chief executive officer now owns 123,985 shares of the company’s stock, valued at $3,347,595. This represents a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, March 18th, Mark Breitbard sold 3,393 shares of GAP stock. The shares were sold at an average price of $19.58, for a total value of $66,434.94.
• On Friday, March 14th, Mark Breitbard sold 16,055 shares of GAP stock. The shares were sold at an average price of $20.43, for a total transaction of $328,003.65.

GAP Trading Up 2.2%

GAP traded up $0.59 during mid-day trading on Monday, hitting $27.98. 6,535,908 shares of the stock were exchanged, compared to its average volume of 7,005,625. The company has a market cap of $10.54 billion, a PE ratio of 12.95, a PEG ratio of 0.94 and a beta of 2.24. The Gap, Inc. has a 1-year low of $16.99 and a 1-year high of $28.08. The company has a current ratio of 1.54, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47. The firm’s fifty day moving average is $21.03 and its two-hundred day moving average is $22.52.

GAP (NYSE:GAP) last issued its quarterly earnings data on Thursday, March 6th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.18. The company had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.07 billion. GAP had a net margin of 5.40% and a return on equity of 29.03%. Equities analysts forecast that The Gap, Inc. will post 2.02 earnings per share for the current fiscal year.

GAP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 9th were issued a dividend of $0.165 per share. This is a positive change from GAP’s previous quarterly dividend of $0.15. This represents a $0.66 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Wednesday, April 9th. GAP’s dividend payout ratio is presently 29.86%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. United Services Automobile Association acquired a new stake in GAP in the first quarter worth $295,000. Amundi bought a new position in shares of GAP in the first quarter worth about $259,000. Dark Forest Capital Management LP acquired a new stake in GAP during the first quarter worth about $4,517,000. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of GAP during the 1st quarter worth approximately $7,207,000. Finally, Corebridge Financial Inc. bought a new stake in GAP during the 1st quarter worth approximately $5,062,000. Institutional investors and hedge funds own 58.81% of the company’s stock.

Wall Street Analysts Forecast Growth

GAP has been the subject of a number of analyst reports. Argus raised GAP from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Tuesday, January 21st. Robert W. Baird dropped their price objective on shares of GAP from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Telsey Advisory Group restated a “market perform” rating and issued a $26.00 price target on shares of GAP in a research report on Friday, March 7th. JPMorgan Chase & Co. upped their price objective on shares of GAP from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Monday. Finally, Citigroup decreased their price objective on GAP from $32.00 to $22.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.21.

GAP Company Profile

Gap, Inc operates as a global apparel retail company, which offers clothing, apparel, accessories, and personal care products for men, women, and children. The firm operates through the following segments: Gap Global, Old Navy Global, Banana Republic Global, Athleta, and Other. The Gap Global segment includes apparel and accessories for men and women under the Gap brand, along with the GapKids, BabyGap, GapMaternity, GapBody, and GapFit collections.