Target Corp. (TGT) Shares Down 5.5%
Shares of Target Corp. (NYSE:TGT) were down 5.5% during trading on Wednesday . The company traded as low as $69.90 and last traded at $71.35, with a volume of 13,934,896 shares. The stock had previously closed at $75.48.
A number of analysts have commented on TGT shares. Morgan Stanley decreased their price objective on Target Corp. from $72.00 to $67.00 and set an “underweight” rating for the company in a report on Thursday, May 19th. Jefferies Group reissued a “hold” rating and set a $72.00 price objective on shares of Target Corp. in a report on Thursday. Sterne Agee CRT reissued a “neutral” rating on shares of Target Corp. in a report on Monday, May 16th. Deutsche Bank AG reissued a “hold” rating and set a $84.00 price objective (up from $81.00) on shares of Target Corp. in a report on Monday, May 16th. Finally, Argus reissued a “hold” rating on shares of Target Corp. in a report on Thursday, July 7th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $77.54.
The stock’s 50-day moving average price is $73.48 and its 200 day moving average price is $75.20. The company has a market cap of $41.46 billion and a PE ratio of 13.02.
Target Corp. (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 17th. The retailer reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.11. During the same quarter in the previous year, the company earned $1.22 EPS. The business had revenue of $16.20 billion for the quarter. Target Corp.’s revenue was down 7.2% on a year-over-year basis. Equities analysts anticipate that Target Corp. will post $5.04 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, September 10th. Stockholders of record on Wednesday, August 17th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Monday, August 15th. This is a positive change from Target Corp.’s previous quarterly dividend of $0.56.
Other hedge funds and institutional investors have modified their holdings of the company. Cambria Investment Management L.P. acquired a new position in shares of Target Corp. during the fourth quarter valued at $1,216,000. Private Capital Management Inc. acquired a new position in shares of Target Corp. during the fourth quarter valued at $1,481,000. Navellier & Associates Inc boosted its position in shares of 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 in the last quarter. TrimTabs Asset Management LLC boosted 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 valued at $2,057,000 after buying an additional 528 shares in the last quarter. Finally, Strategic Global Advisors LLC boosted its position in shares of Target Corp. by 5.3% in the fourth quarter. Strategic Global Advisors LLC now owns 29,289 shares of the retailer’s stock valued at $2,127,000 after buying an additional 1,462 shares in 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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