Target Corp. Declares Quarterly Dividend of $0.60 (TGT)
Target Corp. (NYSE:TGT) declared a quarterly dividend on Wednesday, September 21st. Shareholders of record on Wednesday, November 16th will be given a dividend of 0.60 per share by the retailer on Saturday, December 10th. This represents a $2.40 annualized dividend and a yield of 3.45%.
Target Corp. (NYSE:TGT) opened at 69.47 on Thursday. The company has a 50-day moving average price of $71.25 and a 200 day moving average price of $74.54. Target Corp. has a 1-year low of $65.50 and a 1-year high of $84.14. The firm has a market capitalization of $39.93 billion, a price-to-earnings ratio of 12.86 and a beta of 0.68.
Target Corp. (NYSE:TGT) last announced its earnings results on Wednesday, August 17th. The retailer reported $1.23 earnings per share for the quarter, topping the Zacks’ 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%. Target Corp.’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.22 earnings per share. Equities analysts anticipate that Target Corp. will post $4.96 earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in the company. Banced Corp acquired a new position in Target Corp. during the second quarter worth approximately $211,000. American Century Companies Inc. increased its position in Target Corp. by 25.1% in the second quarter. American Century Companies Inc. now owns 3,421,175 shares of the retailer’s stock worth $238,866,000 after buying an additional 686,125 shares in the last quarter. Argent Trust Co increased its position in Target Corp. by 1.5% in the second quarter. Argent Trust Co now owns 5,370 shares of the retailer’s stock worth $375,000 after buying an additional 77 shares in the last quarter. Bank of Nova Scotia increased its position in Target Corp. by 4.4% in the second quarter. Bank of Nova Scotia now owns 12,036 shares of the retailer’s stock worth $840,000 after buying an additional 510 shares in the last quarter. Finally, Ironwood Investment Counsel LLC increased its position in Target Corp. by 0.9% in the second quarter. Ironwood Investment Counsel LLC now owns 10,344 shares of the retailer’s stock worth $722,000 after buying an additional 96 shares in the last quarter. 86.19% of the stock is owned by hedge funds and other institutional investors.
TGT has been the topic of several research analyst reports. Vetr lowered Target Corp. from a “strong-buy” rating to a “buy” rating and set a $75.66 price target on the stock. in a research report on Tuesday, May 31st. Miller Tabak initiated coverage on Target Corp. in a research report on Friday, July 29th. They set a “buy” rating and a $87.00 price target on the stock. Citigroup Inc. reaffirmed a “buy” rating and set a $80.00 price target on shares of Target Corp. in a research report on Thursday, August 18th. Zacks Investment Research raised Target Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Finally, Argus reaffirmed a “hold” rating on shares of Target Corp. in a research report on Thursday, July 7th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $77.12.
About Target Corp.
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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