Investors Sell Shares of Target Corp. (TGT) on Strength (TGT)
Investors sold shares of Target Corp. (NYSE:TGT) on strength during trading 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 firms have recently commented on TGT. Barclays PLC downgraded shares of Target Corp. from an “overweight” rating to an “underweight” rating and reduced their price objective for the stock from $90.00 to $70.00 in a report on Wednesday, March 30th. Vetr downgraded shares of Target Corp. from a “strong-buy” rating to a “buy” rating and set a $87.25 price objective for the company. in a report on Wednesday, April 27th. Argus reaffirmed a “hold” rating on shares of Target Corp. in a report on Sunday, March 27th. Credit Suisse Group AG reduced their price objective on shares of Target Corp. from $62.00 to $55.00 and set a “neutral” rating for the company in a report on Monday, March 28th. Finally, Bank of America Corp. reaffirmed a “buy” rating and set a $95.00 price objective on shares of Target Corp. in a report on Friday, April 15th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $78.44.
The company has a market cap of $43.04 billion and a PE ratio of 13.52. The firm’s 50-day moving average price is $69.42 and its 200 day moving average price is $74.77.
Target Corp. (NYSE:TGT) last issued its quarterly earnings data on Wednesday, May 18th. The retailer reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. During the same quarter last year, the business earned $1.10 EPS. The business earned $16.20 billion during the quarter, compared to the consensus estimate of $16.31 billion. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. On average, equities research analysts expect that Target Corp. will post $5.14 EPS for the current year.
The firm 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 is a boost from Target Corp.’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Monday, August 15th. This represents a $2.40 dividend on an annualized basis and a yield of 3.29%.
In other Target Corp. news, insider Catherine R. Smith acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 20th. The stock was acquired at an average price of $67.82 per share, for a total transaction of $339,100.00. Following the acquisition, the insider now directly owns 16,868 shares in the company, valued at $1,143,987.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Calvin Darden sold 37,105 shares of the firm’s stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $67.02, for a total transaction of $2,486,777.10. Following the completion of the transaction, the director now owns 29,549 shares of the company’s stock, valued at approximately $1,980,373.98. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have modified their holdings of the stock. TrimTabs Asset Management LLC raised its position in shares of Target Corp. by 1.9% in the fourth quarter. TrimTabs Asset Management LLC now owns 28,326 shares of the retailer’s stock worth $2,057,000 after buying an additional 528 shares during the period. Affinity Investment Advisors LLC raised its position in shares of Target Corp. by 0.5% in the fourth quarter. Affinity Investment Advisors LLC now owns 253,798 shares of the retailer’s stock worth $18,428,000 after buying an additional 1,357 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Target Corp. by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,729,856 shares of the retailer’s stock worth $125,642,000 after buying an additional 72,564 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Target Corp. by 74.8% in the fourth quarter. BNP Paribas Arbitrage SA now owns 329,651 shares of the retailer’s stock worth $23,936,000 after buying an additional 141,033 shares during the period. Finally, Opus Investment Management Inc. raised its position in shares of Target Corp. by 6.9% in the fourth quarter. Opus Investment Management Inc. now owns 77,100 shares of the retailer’s stock worth $5,598,000 after buying an additional 5,000 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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