Target Corp. (TGT) Trading Up 2.2%
Target Corp. (NYSE:TGT) shares were up 2.2% during trading on Friday . The company traded as high as $75.96 and last traded at $75.67, with a volume of 3,949,930 shares traded. The stock had previously closed at $74.01.
A number of research analysts have commented on TGT shares. Morgan Stanley reduced their price objective on Target Corp. from $72.00 to $67.00 and set an “underweight” rating on the stock in a research note on Thursday, May 19th. Sterne Agee CRT reiterated a “neutral” rating on shares of Target Corp. in a research note on Monday, May 16th. Deutsche Bank AG reiterated a “hold” rating and issued a $84.00 price target (up previously from $81.00) on shares of Target Corp. in a research note on Monday, May 16th. Argus reiterated a “hold” rating on shares of Target Corp. in a research note on Thursday, July 7th. Finally, Nomura set a $75.00 price target on Target Corp. and gave the stock a “hold” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the company’s stock. Target Corp. presently has an average rating of “Hold” and an average price target of $79.05.
The company has a market capitalization of $44.67 billion and a P/E ratio of 14.03. The company’s 50 day moving average price is $73.10 and its 200 day moving average price is $75.15.
Target Corp. (NYSE:TGT) last announced its quarterly earnings results on Wednesday, May 18th. The retailer reported $1.29 EPS for the quarter, topping analysts’ consensus estimates 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 prior year, the business earned $1.10 EPS. Analysts forecast that Target Corp. will post $5.13 earnings per share for the current fiscal year.
The firm also recently declared 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 represents a $2.40 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Monday, August 15th. This is an increase from Target Corp.’s previous quarterly dividend of $0.56.
In other news, insider Catherine R. Smith acquired 5,000 shares of the company’s 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Calvin Darden sold 37,105 shares of the firm’s stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $67.02, for a total transaction of $2,486,777.10. Following the sale, 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 hedge funds have recently bought and sold shares of TGT. Ashfield Capital Partners LLC raised its stake in Target Corp. by 12.3% in the fourth quarter. Ashfield Capital Partners LLC now owns 16,136 shares of the retailer’s stock valued at $1,172,000 after buying an additional 1,764 shares during the last quarter. Cambria Investment Management L.P. purchased a new stake in Target Corp. during the fourth quarter valued at $1,216,000. Private Capital Management Inc. purchased a new stake in Target Corp. during the fourth quarter valued at $1,481,000. Navellier & Associates Inc raised its stake in Target Corp. by 11.3% in the fourth quarter. Navellier & Associates Inc now owns 22,531 shares of the retailer’s stock valued at $1,636,000 after buying an additional 2,283 shares during the last quarter. Finally, TrimTabs Asset Management LLC raised 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 valued at $2,057,000 after buying an additional 528 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.
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