Target Corp. (TGT) To Go Ex-Dividend on November 14th
Target Corp. (NYSE:TGT) declared a quarterly dividend on Wednesday, September 21st. Investors of record on Wednesday, November 16th will be given a dividend of 0.60 per share by the retailer on Saturday, December 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend is Monday, November 14th.
Target Corp. (NYSE:TGT) opened at 71.35 on Friday. The firm has a market capitalization of $41.01 billion, a price-to-earnings ratio of 13.20 and a beta of 0.59. Target Corp. has a 1-year low of $65.50 and a 1-year high of $84.14. The company has a 50-day moving average of $68.19 and a 200-day moving average of $71.01.
Target Corp. (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 17th. The retailer reported $1.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.11. The company earned $16.20 billion during the quarter. Target Corp. had a net margin of 4.59% and a return on equity of 23.59%. The firm’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.22 EPS. On average, equities analysts predict that Target Corp. will post $4.95 earnings per share for the current year.
Several research firms have recently weighed in on TGT. Zacks Investment Research upgraded shares of Target Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, July 26th. Deutsche Bank AG upped their price target on shares of Target Corp. from $78.00 to $79.00 and gave the company a “hold” rating in a report on Monday, August 15th. MKM Partners reiterated a “neutral” rating and issued a $78.00 price target (up previously from $73.00) on shares of Target Corp. in a report on Tuesday, August 16th. Edward Jones lowered shares of Target Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 17th. Finally, Cowen and Company reissued an “outperform” rating and issued a $75.00 price objective (down previously from $81.00) on shares of Target Corp. in a research report on Wednesday, August 17th. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the company. Target Corp. presently has an average rating of “Hold” and an average target price of $74.54.
Several hedge funds and other institutional investors have recently bought and sold shares of TGT. Loomis Sayles & Co. L P raised its position in shares of 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. Banced Corp acquired a new position in shares of Target Corp. during the second quarter worth about $211,000. MEMBERS Trust Co acquired a new position in shares of Target Corp. during the second quarter worth about $250,000. Laurel Wealth Advisors Inc. raised its position in shares of Target Corp. by 9.2% in the second quarter. Laurel Wealth Advisors Inc. now owns 3,826 shares of the retailer’s stock worth $267,000 after buying an additional 322 shares during the period. Finally, First Heartland Consultants Inc. raised its position in shares of Target Corp. by 39.7% in the second quarter. First Heartland Consultants Inc. now owns 4,503 shares of the retailer’s stock worth $314,000 after buying an additional 1,280 shares during the period. 85.91% of the stock is owned by hedge funds and other institutional investors.
About Target Corp.
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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