Traders Sell Target Corporation (TGT) on Strength (TGT)
Investors sold shares of Target Corporation (NYSE:TGT) on strength during trading on Monday. $60.37 million flowed into the stock on the tick-up and $182.40 million flowed out of the stock on the tick-down, for a money net flow of $122.03 million out of the stock. Of all stocks tracked, Target Corporation had the 4th highest net out-flow for the day. Target Corporation traded up $0.91 for the day and closed at $56.56
A number of equities analysts have weighed in on TGT shares. Zacks Investment Research upgraded shares of Target Corporation from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a report on Tuesday, June 6th. Vetr upgraded shares of Target Corporation from a “hold” rating to a “buy” rating and set a $61.86 price target on the stock in a report on Wednesday, May 10th. BidaskClub upgraded shares of Target Corporation from a “hold” rating to a “buy” rating in a report on Sunday, August 6th. Finally, MKM Partners lifted their price target on shares of Target Corporation from $58.00 to $69.00 and gave the company a “buy” rating in a report on Thursday. Five investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $61.64.
The firm has a 50 day moving average of $54.68 and a 200-day moving average of $56.16. The company has a market capitalization of $30.89 billion, a P/E ratio of 11.43 and a beta of 0.61.
Target Corporation (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The firm had revenue of $16.43 billion during the quarter, compared to the consensus estimate of $16.30 billion. During the same period in the prior year, the firm earned $1.23 EPS. The business’s revenue was up 1.6% on a year-over-year basis. On average, analysts forecast that Target Corporation will post $4.47 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Wednesday, August 16th will be issued a $0.62 dividend. The ex-dividend date is Monday, August 14th. This is an increase from Target Corporation’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a yield of 4.38%. Target Corporation’s dividend payout ratio is 50.00%.
In other Target Corporation news, insider Robert M. Harrison sold 2,639 shares of the stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $52.05, for a total value of $137,359.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. OLD National Bancorp IN increased its stake in shares of Target Corporation by 13.8% in the first quarter. OLD National Bancorp IN now owns 62,330 shares of the retailer’s stock worth $3,440,000 after buying an additional 7,547 shares during the period. ING Groep NV increased its stake in shares of Target Corporation by 114.3% in the first quarter. ING Groep NV now owns 7,632 shares of the retailer’s stock worth $421,000 after buying an additional 4,071 shares during the period. Honeywell International Inc. increased its stake in shares of Target Corporation by 44.8% in the first quarter. Honeywell International Inc. now owns 665,100 shares of the retailer’s stock worth $36,707,000 after buying an additional 205,700 shares during the period. Cascade Investment Advisors Inc. increased its stake in shares of Target Corporation by 23.7% in the first quarter. Cascade Investment Advisors Inc. now owns 24,445 shares of the retailer’s stock worth $1,349,000 after buying an additional 4,685 shares during the period. Finally, Tufton Capital Management increased its stake in shares of Target Corporation by 10.5% in the first quarter. Tufton Capital Management now owns 159,956 shares of the retailer’s stock worth $8,828,000 after buying an additional 15,137 shares during the period. 82.59% of the stock is owned by hedge funds and other institutional investors.
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About Target Corporation
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.