Target Corp. (NYSE:TGT) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $5.00-5.10 for the period, compared to the Thomson Reuters consensus estimate of $5.20. Target Corp. also updated its Q4 guidance to $1.45-1.55 EPS.
Shares of Target Corp. (NYSE:TGT) opened at 65.39 on Friday. The firm’s 50-day moving average is $74.51 and its 200-day moving average is $71.99. Target Corp. has a 1-year low of $65.06 and a 1-year high of $84.14. The company has a market capitalization of $36.73 billion, a price-to-earnings ratio of 11.64 and a beta of 0.62.
Target Corp. (NYSE:TGT) last announced its quarterly earnings results on Wednesday, November 16th. The retailer reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.21. The business had revenue of $16.44 billion for the quarter, compared to analysts’ expectations of $16.30 billion. Target Corp. had a return on equity of 25.18% and a net margin of 4.75%. The business’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 EPS. Analysts forecast that Target Corp. will post $5.12 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 10th. Investors of record on Wednesday, February 15th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.67%. The ex-dividend date is Monday, February 13th. Target Corp.’s dividend payout ratio is currently 42.93%.
TGT has been the topic of several analyst reports. Zacks Investment Research cut Target Corp. from a hold rating to a sell rating in a research report on Tuesday, October 18th. Buckingham Research restated a buy rating and issued a $85.00 target price (up from $79.00) on shares of Target Corp. in a research report on Sunday, December 4th. Vetr upgraded Target Corp. from a buy rating to a strong-buy rating and set a $81.98 target price on the stock in a research report on Monday, January 9th. Barclays PLC restated an underweight rating and issued a $60.00 target price on shares of Target Corp. in a research report on Friday, September 23rd. Finally, Brean Capital restated a buy rating and issued a $28.00 target price on shares of Target Corp. in a research report on Saturday, October 8th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $74.25.
In related news, Director Roxanne S. Austin sold 3,957 shares of Target Corp. stock in a transaction dated Friday, December 2nd. The stock was sold at an average price of $77.87, for a total transaction of $308,131.59. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.25% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P increased its stake in Target Corp. by 1.9% in the second quarter. Loomis Sayles & Co. L P now owns 2,201 shares of the retailer’s stock worth $154,000 after buying an additional 42 shares during the period. Mycio Wealth Partners LLC increased its stake in Target Corp. by 1.1% in the second quarter. Mycio Wealth Partners LLC now owns 5,695 shares of the retailer’s stock worth $398,000 after buying an additional 60 shares during the period. Sunbelt Securities Inc. increased its stake in Target Corp. by 0.8% in the second quarter. Sunbelt Securities Inc. now owns 9,177 shares of the retailer’s stock worth $641,000 after buying an additional 74 shares during the period. Argent Trust Co increased its stake 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 during the period. Finally, Ironwood Investment Counsel LLC increased its stake 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 during the period. 86.63% of the stock is currently owned by institutional investors and hedge funds.
Target Corp. Company Profile
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.