Target (NYSE:TGT) Announces Quarterly Earnings Results

Target (NYSE:TGT) announced its earnings results on Wednesday. The retailer reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02), RTT News reports. Target had a net margin of 3.85% and a return on equity of 33.41%. The business had revenue of $24.14 billion for the quarter, compared to the consensus estimate of $24.52 billion. During the same quarter in the prior year, the company earned $2.05 EPS. Target’s revenue was down 3.2% compared to the same quarter last year.

Target Stock Down 0.6 %

TGT stock opened at $155.73 on Wednesday. Target has a twelve month low of $102.93 and a twelve month high of $181.86. The company has a quick ratio of 0.29, a current ratio of 0.91 and a debt-to-equity ratio of 1.11. The stock has a market cap of $72.05 billion, a P/E ratio of 17.44, a PEG ratio of 1.46 and a beta of 1.16. The business’s 50-day moving average price is $166.17 and its 200-day moving average price is $149.43.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.83%. Target’s payout ratio is currently 49.27%.

Insider Activity

In other news, insider Melissa K. Kremer sold 3,000 shares of Target stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $165.05, for a total transaction of $495,150.00. Following the transaction, the insider now directly owns 30,527 shares of the company’s stock, valued at approximately $5,038,481.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Target news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $167.52, for a total value of $7,538,400.00. Following the sale, the insider now owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Melissa K. Kremer sold 3,000 shares of Target stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $165.05, for a total value of $495,150.00. Following the completion of the sale, the insider now directly owns 30,527 shares in the company, valued at approximately $5,038,481.35. The disclosure for this sale can be found here. Insiders have sold a total of 52,600 shares of company stock valued at $8,819,598 in the last ninety days. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Roth Mkm raised their price target on Target from $140.00 to $153.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. HSBC raised Target from a “hold” rating to a “buy” rating and raised their price target for the stock from $140.00 to $195.00 in a research note on Wednesday, March 6th. Truist Financial raised their price objective on Target from $142.00 to $160.00 and gave the company a “hold” rating in a research report on Wednesday, March 6th. Citigroup raised Target from a “neutral” rating to a “buy” rating and set a $180.00 price objective for the company in a research report on Tuesday, May 7th. Finally, StockNews.com raised Target from a “buy” rating to a “strong-buy” rating in a research report on Monday, May 13th. Ten equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Target currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.96.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.