Investors Sell Shares of Target Corp. (TGT) on Strength (TGT)
Traders sold shares of Target Corp. (NYSE:TGT) on strength during trading on Friday. $41.60 million flowed into the stock on the tick-up and $122.68 million flowed out of the stock on the tick-down, for a money net flow of $81.08 million out of the stock. Of all equities tracked, Target Corp. had the 0th highest net out-flow for the day. Target Corp. traded up $0.39 for the day and closed at $70.58
A number of brokerages have recently issued reports on TGT. Goldman Sachs Group Inc. restated a “hold” rating on shares of Target Corp. in a research report on Sunday, May 22nd. Vetr downgraded Target Corp. from a “buy” rating to a “hold” rating and set a $75.39 price objective for the company. in a research report on Monday, July 11th. Telsey Advisory Group lowered their price objective on Target Corp. from $88.00 to $82.00 and set an “outperform” rating for the company in a research report on Thursday, August 18th. Jefferies Group restated a “hold” rating and set a $78.00 price objective on shares of Target Corp. in a research report on Monday, May 16th. Finally, Zacks Investment Research downgraded Target Corp. from a “hold” rating to a “sell” rating in a research report on Friday, July 15th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $78.39.
The firm has a 50-day moving average of $73.20 and a 200-day moving average of $75.18. The firm has a market cap of $40.70 billion and a price-to-earnings ratio of 13.10.
Target Corp. (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 17th. The retailer reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.11. The business had revenue of $16.20 billion for the quarter. Target Corp.’s revenue was down 7.2% compared to the same quarter last year. During the same period last year, the firm earned $1.22 earnings per share. Equities analysts expect that Target Corp. will post $4.99 EPS for the current 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 given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.39%. This is a boost from Target Corp.’s previous quarterly dividend of $0.56. The ex-dividend date is Monday, August 15th.
An institutional investor recently raised its position in Target Corp. stock. Wells Fargo & Company MN boosted its stake in Target Corp. (NYSE:TGT) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,843,075 shares of the retailer’s stock after buying an additional 258,052 shares during the period. Wells Fargo & Company MN owned approximately 1.92% of Target Corp. worth $859,925,000 as of its most recent filing with the SEC.
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.