Traders Sell Target Corp. (TGT) on Strength (TGT)
Traders sold shares of Target Corp. (NYSE:TGT) on strength during trading hours on Monday. $75.43 million flowed into the stock on the tick-up and $102.77 million flowed out of the stock on the tick-down, for a money net flow of $27.34 million out of the stock. Of all stocks tracked, Target Corp. had the 19th highest net out-flow for the day. Target Corp. traded up $0.23 for the day and closed at $70.81
A number of analysts have issued reports on the company. Piper Jaffray Cos. reissued an “outperform” rating and issued a $86.00 target price on shares of Target Corp. in a research report on Monday, July 25th. Vetr raised Target Corp. from a “hold” rating to a “buy” rating and set a $75.70 target price for the company in a research report on Monday, July 4th. Zacks Investment Research downgraded Target Corp. from a “hold” rating to a “sell” rating in a research report on Friday, July 15th. Miller Tabak assumed coverage on Target Corp. in a research report on Friday, July 29th. They issued a “buy” rating and a $87.00 target price for the company. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $76.00 target price on shares of Target Corp. in a research report on Wednesday, July 6th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $78.39.
The firm has a market capitalization of $40.70 billion and a price-to-earnings ratio of 13.10. The company’s 50-day moving average price is $73.20 and its 200-day moving average price is $75.18.
Target Corp. (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 17th. The retailer reported $1.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.11. The firm had revenue of $16.20 billion for the quarter. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period last year, the firm posted $1.22 EPS. On average, equities research analysts forecast that Target Corp. will post $4.99 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, September 10th. Stockholders 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. The ex-dividend date is Monday, August 15th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.39%.
A hedge fund recently raised its stake in Target Corp. stock. Wells Fargo & Company MN boosted its position in shares of Target Corp. (NYSE:TGT) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 1.92% of Target Corp. worth $859,925,000 at the end of the most recent reporting period.
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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