Target Corp. (TGT) Shares Gap Up to $73.05
Target Corp. (NYSE:TGT) gapped up before the market opened on Thursday . The stock had previously closed at $72.90, but opened at $73.05. Target Corp. shares last traded at $73.99, with a volume of 4,150,298 shares.
A number of brokerages have commented on TGT. Vetr downgraded shares of Target Corp. from a “strong-buy” rating to a “buy” rating and set a $87.25 price objective on the stock. in a research report on Wednesday, April 27th. Bank of America Corp. reissued a “buy” rating and issued a $95.00 price objective on shares of Target Corp. in a research report on Friday, April 15th. Wolfe Research downgraded shares of Target Corp. from an “outperform” rating to a “market perform” rating in a research report on Friday, April 29th. Zacks Investment Research downgraded shares of Target Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, May 3rd. Finally, Cleveland Research downgraded shares of Target Corp. from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 11th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $79.05.
The firm has a market capitalization of $44.67 billion and a PE ratio of 14.03. The firm’s 50-day moving average is $73.10 and its 200-day moving average is $75.15.
Target Corp. (NYSE:TGT) last released its earnings results on Wednesday, May 18th. The retailer reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.10. The business had revenue of $16.20 billion for 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 quarter in the previous year, the firm earned $1.10 EPS. Analysts anticipate that Target Corp. will post $5.13 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, September 10th. Shareholders of record on Wednesday, August 17th will be paid a dividend of $0.60 per share. 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 annualized dividend and a yield of 3.17%.
In other news, insider Catherine R. Smith purchased 5,000 shares of Target Corp. stock in a transaction dated Friday, May 20th. The stock was bought at an average price 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 in the company, valued at approximately $1,143,987.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Calvin Darden sold 37,105 shares of the business’s stock in a transaction 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 transaction, the director now directly 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.
Several institutional investors have recently made changes to their positions in the stock. Calvert Investment Management Inc. increased its position in shares of Target Corp. by 539.8% in the fourth quarter. Calvert Investment Management Inc. now owns 436,087 shares of the retailer’s stock valued at $31,664,000 after buying an additional 367,926 shares during the period. Bridgewater Associates LP increased its position in shares of Target Corp. by 23.9% in the fourth quarter. Bridgewater Associates LP now owns 132,717 shares of the retailer’s stock valued at $9,637,000 after buying an additional 25,602 shares during the period. Private Capital Management Inc. purchased a new position in shares of Target Corp. during the fourth quarter valued at about $1,481,000. American International Group Inc. increased its position in shares of Target Corp. by 2.3% in the fourth quarter. American International Group Inc. now owns 307,603 shares of the retailer’s stock valued at $22,335,000 after buying an additional 6,913 shares during the period. Finally, Cambria Investment Management L.P. purchased a new position in shares of Target Corp. during the fourth quarter valued at about $1,216,000.
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.