Traders Sell Shares of Target Corp. (TGT) on Strength (TGT)
Traders sold shares of Target Corp. (NYSE:TGT) on strength during trading hours on Thursday. $62.91 million flowed into the stock on the tick-up and $99.92 million flowed out of the stock on the tick-down, for a money net flow of $37.01 million out of the stock. Of all stocks tracked, Target Corp. had the 0th highest net out-flow for the day. Target Corp. traded up $0.32 for the day and closed at $73.49
A number of research analysts recently commented on TGT shares. Vetr upgraded Target Corp. from a “hold” rating to a “buy” rating and set a $75.70 price target on the stock in a research report on Monday, July 4th. Wolfe Research cut Target Corp. from an “outperform” rating to a “market perform” rating in a research report on Friday, April 29th. Piper Jaffray Cos. restated an “overweight” rating and issued a $86.00 price target on shares of Target Corp. in a research report on Thursday, July 7th. Cleveland Research cut Target Corp. from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 11th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $76.00 price target on shares of Target Corp. in a research report on Wednesday, July 6th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the stock. Target Corp. has a consensus rating of “Hold” and an average price target of $78.44.
The stock has a market capitalization of $43.31 billion and a PE ratio of 13.60. The company’s 50 day moving average is $69.30 and its 200-day moving average is $74.77.
Target Corp. (NYSE:TGT) last posted its earnings results on Wednesday, May 18th. The retailer reported $1.29 EPS for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.10. The business earned $16.20 billion during the quarter, compared to the consensus estimate of $16.31 billion. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.10 EPS. Analysts expect that Target Corp. will post $5.14 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, September 10th. Investors of record on Wednesday, August 17th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.27%. This is an increase from Target Corp.’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Monday, August 15th.
In related news, Director Calvin Darden sold 37,105 shares of Target Corp. stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $67.02, for a total value of $2,486,777.10. Following the completion of the sale, the director now owns 29,549 shares of the company’s stock, valued at $1,980,373.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Catherine R. Smith acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 20th. The stock was purchased at an average cost of $67.82 per share, with a total value of $339,100.00. Following the acquisition, the insider now directly owns 16,868 shares of the company’s stock, valued at $1,143,987.76. The disclosure for this purchase can be found here.
Other institutional investors recently added to or reduced their stakes in the company. Profund Advisors LLC increased its position in Target Corp. by 9.2% in the fourth quarter. Profund Advisors LLC now owns 22,910 shares of the retailer’s stock valued at $1,663,000 after buying an additional 1,934 shares during the period. Engineers Gate Manager LP increased its position in Target Corp. by 7.3% in the fourth quarter. Engineers Gate Manager LP now owns 32,383 shares of the retailer’s stock valued at $2,351,000 after buying an additional 2,206 shares during the period. Commerzbank Aktiengesellschaft FI increased its position in Target Corp. by 153.6% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 47,396 shares of the retailer’s stock valued at $3,441,000 after buying an additional 28,707 shares during the period. MetLife Securities Inc increased its position in Target Corp. by 210.6% in the fourth quarter. MetLife Securities Inc now owns 22,152 shares of the retailer’s stock valued at $1,608,000 after buying an additional 15,019 shares during the period. Finally, Stonebridge Capital Advisors LLC increased its position in Target Corp. by 10.6% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 20,101 shares of the retailer’s stock valued at $1,459,000 after buying an additional 1,925 shares during the period.
Target Corporation offers everyday essentials and merchandise to its customers. The Company sells a range of general merchandise and food through its store and digital channels. The Company’s general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items.
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