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Why Gap Stock Is Still on Sale

Amid the recent market volatility, shares of the apparel retailer -- which are up about 10% year to date, against a nearly 6% decline in the S&P 500 (SPX) -- have been a safe haven for investors who have sought shelter by moving toward strong dividend payers.

The San Francisco-based retailer pays a 23-cent dividend per share for a yield of 3.38% annually. That's 1.38 percentage points higher than the 2.00% yield paid out by the average stock in the S&P 500. The Gap is set to report fourth-quarter fiscal 2015 earnings results after the closing bell Thursday.

For the quarter that ended in December, the average analyst earning-per-share estimate calls for 57 cents a share on revenue of...