The Investors Buy Target Corporation (TGT) on Weakness

The Investors Buy Target Corporation (TGT) on Weakness

Investors purchased shares of Target Corporation (NYSE:TGT) on weakness during trading hours on Wednesday. $94.85 million flowed into the stock on the tick-up and $44.49 million flowed out of the stock on the tick-down, for a money net flow of $50.36 million into the stock. Of all equities tracked, Target Corporation had the 18th highest net in-flow for the day. Target Corporation traded down ($1.01) for the day and closed at $61.92

A number of analysts recently commented on the stock. BidaskClub upgraded shares of Target Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Robert W. Baird restated a “neutral” rating and set a $55.00 price target on shares of Target Corporation in a research note on Friday, July 14th. Vetr cut shares of Target Corporation from a “buy” rating to a “hold” rating and set a $57.89 price target on the stock. in a research note on Thursday, August 17th. MKM Partners upped their price target on shares of Target Corporation from $58.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday, August 17th. Finally, Cowen and Company restated a “market perform” rating and set a $64.00 price target on shares of Target Corporation in a research note on Friday, July 14th. Five research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and four have assigned a buy rating to the company. Target Corporation presently has a consensus rating of “Hold” and an average price target of $63.75.

The company has a 50 day moving average of $59.23 and a 200-day moving average of $55.96. The company has a market capitalization of $33.82 billion, a PE ratio of 12.51 and a beta of 0.62.

Target Corporation (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.03. The firm had revenue of $16.43 billion for the quarter, compared to analysts’ expectations of $16.30 billion. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.23 earnings per share. Equities analysts predict that Target Corporation will post $4.51 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Wednesday, November 15th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend is Tuesday, November 14th. Target Corporation’s dividend payout ratio (DPR) is presently 50.00%.

In related news, insider Hourigan Rice Jacqueline sold 4,679 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $59.37, for a total value of $277,792.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the business. Calamos Advisors LLC lifted its position in shares of Target Corporation by 3.7% during the third quarter. Calamos Advisors LLC now owns 85,453 shares of the retailer’s stock valued at $5,043,000 after buying an additional 3,035 shares during the last quarter. Rehmann Capital Advisory Group lifted its position in shares of Target Corporation by 16.4% during the third quarter. Rehmann Capital Advisory Group now owns 12,392 shares of the retailer’s stock valued at $731,000 after buying an additional 1,748 shares during the last quarter. First Midwest Bank Trust Division lifted its position in shares of Target Corporation by 22.6% during the third quarter. First Midwest Bank Trust Division now owns 37,320 shares of the retailer’s stock valued at $2,202,000 after buying an additional 6,878 shares during the last quarter. First Quadrant L P CA lifted its position in shares of Target Corporation by 2.7% during the third quarter. First Quadrant L P CA now owns 350,881 shares of the retailer’s stock valued at $20,705,000 after buying an additional 9,201 shares during the last quarter. Finally, Bennicas & Associates Inc. purchased a new stake in shares of Target Corporation during the third quarter valued at about $1,326,000. 83.40% of the stock is owned by institutional investors and hedge funds.

Target Corporation Company Profile

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.

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