Neo Ivy Capital Management Takes $322,000 Position in The Gap, Inc. (NYSE:GAP)

Key Points

• Neo Ivy Capital Management acquired a new position in The Gap, Inc., purchasing 15,638 shares valued at approximately $322,000.
• The company reported $0.51 earnings per share for the last quarter, exceeding analysts' expectations of $0.44 and showing a revenue increase of 2.2% year over year.
• The Gap announced a quarterly dividend of $0.165 per share, reflecting a 3.20% yield and a payout ratio of 28.57%.

Neo Ivy Capital Management acquired a new position in shares of The Gap, Inc. (NYSE:GAP - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 15,638 shares of the company's stock, valued at approximately $322,000.

Other institutional investors also recently bought and sold shares of the company. Hexagon Capital Partners LLC purchased a new position in GAP during the 1st quarter worth $30,000. First Horizon Advisors Inc. purchased a new position in shares of GAP in the 1st quarter valued at $75,000. Deseret Mutual Benefit Administrators bought a new position in shares of GAP in the 1st quarter worth $81,000. FNY Investment Advisers LLC bought a new position in shares of GAP in the 1st quarter worth $91,000. Finally, GAMMA Investing LLC bought a new position in shares of GAP in the 1st quarter worth $96,000. 58.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GAP has been the subject of several recent research reports. Telsey Advisory Group reissued a "market perform" rating and issued a $26.00 price target on shares of GAP in a research report on Friday, May 30th. JPMorgan Chase & Co. boosted their price target on GAP from $25.00 to $29.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. Jefferies Financial Group reissued a "hold" rating and issued a $29.00 price target (up from $26.00) on shares of GAP in a research report on Wednesday, May 21st. Wall Street Zen raised GAP from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Morgan Stanley reduced their price target on GAP from $30.00 to $27.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, GAP presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.53.

GAP Stock Performance

GAP stock traded down $0.27 during trading hours on Monday, hitting $20.39. 6,921,182 shares of the stock traded hands, compared to its average volume of 9,078,515. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.71 and a quick ratio of 0.98. The firm's 50 day moving average price is $22.79 and its 200-day moving average price is $22.23. The stock has a market capitalization of $7.68 billion, a price-to-earnings ratio of 8.83, a P/E/G ratio of 2.24 and a beta of 2.14. The Gap, Inc. has a 1 year low of $16.99 and a 1 year high of $29.29.

GAP (NYSE:GAP - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.07. The business had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.41 billion. GAP had a return on equity of 27.86% and a net margin of 5.80%. The company's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 EPS. As a group, equities analysts expect that The Gap, Inc. will post 2.02 EPS for the current fiscal year.

GAP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 30th. Shareholders of record on Wednesday, July 9th will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $0.66 annualized dividend and a yield of 3.24%. GAP's payout ratio is presently 28.57%.

Insiders Place Their Bets

In other GAP news, CEO Mark Breitbard sold 51,385 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $27.00, for a total transaction of $1,387,395.00. Following the sale, the chief executive officer owned 123,985 shares in the company, valued at approximately $3,347,595. The trade was a 29.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 30.56% of the company's stock.

About GAP

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.