Traders Buy Shares of Target Corp. (TGT) on Weakness
Investors bought shares of Target Corp. (NYSE:TGT) on weakness during trading on Monday. $134.33 million flowed into the stock on the tick-up and $30.05 million flowed out of the stock on the tick-down, for a money net flow of $104.28 million into the stock. Of all stocks tracked, Target Corp. had the 2nd highest net in-flow for the day. Target Corp. traded down ($0.34) for the day and closed at $68.89
Several equities research analysts have recently weighed in on the stock. Vetr downgraded shares of Target Corp. from a “strong-buy” rating to a “buy” rating and set a $75.66 target price for the company. in a research report on Tuesday, May 31st. Credit Suisse Group AG assumed coverage on shares of Target Corp. in a research report on Friday. They issued a “neutral” rating and a $65.00 target price for the company. MKM Partners reissued a “neutral” rating and issued a $78.00 target price (up previously from $73.00) on shares of Target Corp. in a research report on Tuesday, August 16th. Nomura set a $75.00 target price on shares of Target Corp. and gave the stock a “hold” rating in a research report on Thursday, August 18th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and issued a $86.00 target price on shares of Target Corp. in a research report on Wednesday, August 17th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the stock. Target Corp. has an average rating of “Hold” and an average price target of $77.12.
The stock’s 50 day moving average price is $71.57 and its 200-day moving average price is $74.67. The stock has a market cap of $39.60 billion, a price-to-earnings ratio of 12.75 and a beta of 0.68.
Target Corp. (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 17th. The retailer reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.11. The firm earned $16.20 billion during the quarter. Target Corp. had a net margin of 4.59% and a return on equity of 23.59%. The company’s revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.22 EPS. Equities research analysts forecast that Target Corp. will post $4.96 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Ropes Wealth Advisors LLC boosted its stake in Target Corp. by 9.1% in the second quarter. Ropes Wealth Advisors LLC now owns 1,527 shares of the retailer’s stock valued at $107,000 after buying an additional 127 shares during the last quarter. Arcadia Investment Management Corp MI boosted its stake in Target Corp. by 41.7% in the second quarter. Arcadia Investment Management Corp MI now owns 1,700 shares of the retailer’s stock valued at $119,000 after buying an additional 500 shares during the last quarter. Acrospire Investment Management LLC bought a new stake in Target Corp. during the first quarter valued at $165,000. Loomis Sayles & Co. L P boosted its stake in Target Corp. by 58.5% in the first quarter. Loomis Sayles & Co. L P now owns 2,159 shares of the retailer’s stock valued at $178,000 after buying an additional 797 shares during the last quarter. Finally, Duncker Streett & Co. Inc. boosted its stake in Target Corp. by 4.4% in the second quarter. Duncker Streett & Co. Inc. now owns 2,370 shares of the retailer’s stock valued at $165,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.
Target Corp. Company Profile
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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