GAP (GPS) Shares Up 7.8% Following Strong Earnings
Shares of Gap Inc (NYSE:GPS) shot up 7.8% during trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $34.37 and last traded at $34.18. 16,328,172 shares were traded during trading, an increase of 223% from the average session volume of 5,050,625 shares. The stock had previously closed at $31.70.
The apparel retailer reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.03. The company had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.68 billion. GAP had a net margin of 5.57% and a return on equity of 27.47%. The firm’s revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 EPS.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 2nd. Investors of record on Wednesday, April 11th will be issued a dividend of $0.2425 per share. The ex-dividend date of this dividend is Tuesday, April 10th. This is a positive change from GAP’s previous quarterly dividend of $0.23. This represents a $0.97 annualized dividend and a dividend yield of 2.84%. GAP’s payout ratio is 42.20%.
In other news, EVP Julie Gruber sold 7,133 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $34.00, for a total value of $242,522.00. Following the transaction, the executive vice president now owns 24,583 shares in the company, valued at approximately $835,822. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brent Hyder sold 5,839 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $33.04, for a total transaction of $192,920.56. The disclosure for this sale can be found here. Insiders sold a total of 18,434 shares of company stock worth $626,613 in the last 90 days. Corporate insiders own 27.30% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. San Francisco Sentry Investment Group CA lifted its position in shares of GAP by 543.3% in the 4th quarter. San Francisco Sentry Investment Group CA now owns 3,493 shares of the apparel retailer’s stock worth $119,000 after purchasing an additional 2,950 shares during the period. Cerebellum GP LLC acquired a new position in shares of GAP in the 4th quarter worth approximately $130,000. Avestar Capital LLC acquired a new position in shares of GAP in the 4th quarter worth approximately $116,000. Acropolis Investment Management LLC lifted its position in shares of GAP by 115.4% in the 4th quarter. Acropolis Investment Management LLC now owns 4,185 shares of the apparel retailer’s stock worth $143,000 after purchasing an additional 2,242 shares during the period. Finally, Mariner Wealth Advisors LLC acquired a new position in shares of GAP in the 4th quarter worth approximately $203,000. Hedge funds and other institutional investors own 56.64% of the company’s stock.
The stock has a market capitalization of $13,290.00, a PE ratio of 15.68, a PEG ratio of 1.71 and a beta of 0.88. The company has a quick ratio of 0.77, a current ratio of 1.73 and a debt-to-equity ratio of 0.41.
The Gap, Inc (Gap Inc) is an apparel retail company. The Company offers apparel, accessories and personal care products for men, women and children under the Gap, Banana Republic, Old Navy, Athleta and Intermix brands. Its products are available to customers online through Company-owned Websites and through the use of third-parties that provide logistics and fulfillment services.
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