Target Corp. (TGT) Shares Down 3.1%
Target Corp. (NYSE:TGT)’s share price traded down 3.1% during trading on Tuesday . The stock traded as low as $71.74 and last traded at $72.66, with a volume of 5,107,569 shares changing hands. The stock had previously closed at $75.00.
Several equities analysts have commented on the company. Vetr raised Target Corp. from a “hold” rating to a “buy” rating and set a $79.09 price objective on the stock in a research report on Monday, August 1st. Miller Tabak started 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. Zacks Investment Research raised Target Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Piper Jaffray Cos. reissued an “outperform” rating and set a $86.00 price target on shares of Target Corp. in a research report on Monday, July 25th. Finally, Argus reissued a “hold” rating on shares of Target Corp. in a research report on Thursday, July 7th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $79.05.
The company’s 50 day moving average is $72.64 and its 200 day moving average is $75.12. The firm has a market cap of $42.79 billion and a P/E ratio of 13.44.
Target Corp. (NYSE:TGT) last released its quarterly earnings data on Wednesday, May 18th. The retailer reported $1.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.10. The business had revenue of $16.20 billion for the quarter, compared to analyst estimates of $16.31 billion. The company’s revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.10 earnings per share. On average, equities research analysts anticipate that Target Corp. will post $5.13 EPS for the current year.
The firm 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. 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. This represents a $2.40 annualized dividend and a dividend yield of 3.31%.
In other news, Director Calvin Darden sold 37,105 shares of the company’s stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $67.02, for a total transaction of $2,486,777.10. Following the completion of the transaction, the director now directly owns 29,549 shares of the company’s stock, valued at approximately $1,980,373.98. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Catherine R. Smith bought 5,000 shares of Target Corp. stock in a transaction dated Friday, May 20th. The stock was purchased at an average cost of $67.82 per share, with a total value of $339,100.00. Following the completion of the acquisition, the insider now directly owns 16,868 shares in the company, valued at approximately $1,143,987.76. The disclosure for this purchase can be found here.
Several hedge funds have recently bought and sold shares of TGT. Ashfield Capital Partners LLC increased its stake in Target Corp. by 12.3% in the fourth quarter. Ashfield Capital Partners LLC now owns 16,136 shares of the retailer’s stock valued at $1,172,000 after buying an additional 1,764 shares during the last quarter. Cambria Investment Management L.P. purchased a new stake in Target Corp. during the fourth quarter valued at $1,216,000. Private Capital Management Inc. purchased a new stake in Target Corp. during the fourth quarter valued at $1,481,000. Navellier & Associates Inc increased its stake in 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 during the last quarter. Finally, Aviance Capital Partners LLC increased its stake in Target Corp. by 41.0% in the fourth quarter. Aviance Capital Partners LLC now owns 22,727 shares of the retailer’s stock valued at $1,650,000 after buying an additional 6,613 shares during 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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