Traders Buy Shares of Target Corp. (TGT) on Weakness
Traders purchased shares of Target Corp. (NYSE:TGT) on weakness during trading on Tuesday. $70.23 million flowed into the stock on the tick-up and $46.10 million flowed out of the stock on the tick-down, for a money net flow of $24.13 million into the stock. Of all equities tracked, Target Corp. had the 15th highest net in-flow for the day. Target Corp. traded down ($1.62) for the day and closed at $73.89
A number of equities research analysts have recently issued reports on the company. Vetr upgraded Target Corp. from a “buy” rating to a “strong-buy” rating and set a $93.71 target price for the company in a research note on Monday, April 25th. Telsey Advisory Group lowered their target price on Target Corp. from $91.00 to $88.00 and set an “outperform” rating for the company in a research note on Thursday, May 19th. Credit Suisse Group AG reiterated a “hold” rating on shares of Target Corp. in a research note on Wednesday, May 18th. Wolfe Research lowered Target Corp. from an “outperform” rating to a “market perform” rating in a research note on Friday, April 29th. Finally, Cleveland Research lowered Target Corp. from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 11th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have issued a buy rating to the stock. Target Corp. presently has a consensus rating of “Hold” and an average target price of $79.05.
The stock has a market cap of $43.54 billion and a P/E ratio of 13.68. The stock’s 50-day moving average is $71.66 and its 200 day moving average is $74.97.
Target Corp. (NYSE:TGT) last released its earnings results on Wednesday, May 18th. The retailer reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.10. During the same period last year, the business earned $1.10 earnings per share. The firm had revenue of $16.20 billion for the quarter, compared to analyst estimates of $16.31 billion. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. On average, equities analysts predict that Target Corp. will post $5.14 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, September 10th. Investors of record on Wednesday, August 17th will be given a dividend of $0.60 per share. This is an increase from Target Corp.’s previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Monday, August 15th.
In related news, insider Catherine R. Smith acquired 5,000 shares of the firm’s stock in a transaction on Friday, May 20th. The shares were bought at an average cost of $67.82 per share, with a total value of $339,100.00. Following the completion of the acquisition, the insider now owns 16,868 shares of the company’s stock, valued at $1,143,987.76. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Calvin Darden sold 37,105 shares of Target Corp. stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $67.02, for a total value of $2,486,777.10. Following the sale, the director now directly owns 29,549 shares in the company, valued at $1,980,373.98. The disclosure for this sale can be found here.
Other large investors recently added to or reduced their stakes in the company. American International Group Inc. increased its stake in Target Corp. by 2.3% in the fourth quarter. American International Group Inc. now owns 307,603 shares of the retailer’s stock worth $22,335,000 after buying an additional 6,913 shares during the last quarter. Cambria Investment Management L.P. bought a new stake in Target Corp. during the fourth quarter worth $1,216,000. BlackRock Advisors LLC increased its stake in Target Corp. by 43.8% in the fourth quarter. BlackRock Advisors LLC now owns 1,405,574 shares of the retailer’s stock worth $102,058,000 after buying an additional 428,317 shares during the last quarter. TrimTabs Asset Management LLC increased its stake in 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 last quarter. Finally, Affinity Investment Advisors LLC increased its stake in 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 last quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.