Investors Sell Target Corp. (TGT) on Strength (TGT)
Investors sold shares of Target Corp. (NYSE:TGT) on strength during trading hours 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 research firms have recently commented on TGT. Goldman Sachs Group Inc. reiterated a “hold” rating on shares of Target Corp. in a report on Sunday, May 22nd. Vetr cut shares of Target Corp. from a “buy” rating to a “hold” rating and set a $75.39 price target on the stock. in a report on Monday, July 11th. Telsey Advisory Group cut their price target on shares of Target Corp. from $88.00 to $82.00 and set an “outperform” rating on the stock in a report on Thursday, August 18th. Jefferies Group reiterated a “hold” rating and set a $78.00 price target on shares of Target Corp. in a report on Monday, May 16th. Finally, Zacks Investment Research cut shares of Target Corp. from a “hold” rating to a “sell” rating in a report on Friday, July 15th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $78.39.
The firm has a market cap of $40.70 billion and a PE ratio of 13.10. The firm has a 50 day moving average price of $73.20 and a 200-day moving average price of $75.18.
Target Corp. (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 17th. The retailer reported $1.23 EPS for the quarter, beating the consensus estimate of $1.12 by $0.11. The business earned $16.20 billion during the quarter. During the same quarter in the prior year, the business earned $1.22 earnings per share. Target Corp.’s revenue was down 7.2% on a year-over-year basis. Analysts anticipate that Target Corp. will post $4.98 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, September 10th. Investors of record on Wednesday, August 17th will be issued a dividend of $0.60 per share. This is a positive change from Target Corp.’s previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Monday, August 15th.
Other hedge funds have recently made changes to their positions in the company. I.G. Investment Management LTD. increased its stake in shares of Target Corp. by 64.1% in the fourth quarter. I.G. Investment Management LTD. now owns 59,515 shares of the retailer’s stock worth $4,321,000 after buying an additional 23,250 shares during the period. American International Group Inc. increased its stake in shares of Target Corp. by 2.3% in the fourth quarter. American International Group Inc. now owns 307,603 shares of the retailer’s stock worth $22,335,000 after buying an additional 6,913 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Target Corp. by 5.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 2,578,447 shares of the retailer’s stock worth $187,222,000 after buying an additional 126,334 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Target Corp. by 2.2% in the fourth quarter. Wells Fargo & Company MN now owns 11,843,075 shares of the retailer’s stock worth $859,925,000 after buying an additional 258,052 shares during the 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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