Target Corp. (TGT) Director Anne M. Mulcahy Sells 3,957 Shares
Target Corp. (NYSE:TGT) Director Anne M. Mulcahy sold 3,957 shares of the business’s stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $75.45, for a total transaction of $298,555.65. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Target Corp. (NYSE:TGT) traded up 0.42% during midday trading on Monday, reaching $76.51. The company’s stock had a trading volume of 4,477,038 shares. The company has a market capitalization of $43.98 billion, a price-to-earnings ratio of 14.16 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’s 50-day moving average price is $69.08 and its 200-day moving average price is $70.76.
Target Corp. (NYSE:TGT) last posted its quarterly earnings data on Wednesday, November 16th. The retailer reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.21. Target Corp. had a return on equity of 25.18% and a net margin of 4.75%. The company had revenue of $16.44 billion for the quarter, compared to the consensus estimate of $16.30 billion. During the same period in the previous year, the business earned $0.86 EPS. Target Corp.’s revenue for the quarter was down 6.7% compared to the same quarter last year. On average, analysts predict that Target Corp. will post $5.16 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, December 10th. Stockholders of record on Wednesday, November 16th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Monday, November 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.14%. Target Corp.’s dividend payout ratio (DPR) is 42.93%.
Several large investors have recently modified their holdings of TGT. Fulton Bank N.A. increased its stake in shares of Target Corp. by 22.4% in the second quarter. Fulton Bank N.A. now owns 3,966 shares of the retailer’s stock worth $277,000 after buying an additional 725 shares during the period. Iowa State Bank increased its stake in shares of Target Corp. by 2.6% in the second quarter. Iowa State Bank now owns 51,242 shares of the retailer’s stock worth $3,578,000 after buying an additional 1,275 shares during the period. Gardiner Nancy B increased its stake in shares of Target Corp. by 6.7% in the first quarter. Gardiner Nancy B now owns 4,205 shares of the retailer’s stock worth $346,000 after buying an additional 265 shares during the period. Lebenthal Asset Management LLC purchased a new stake in shares of Target Corp. during the first quarter worth $5,894,000. Finally, Cullinan Associates Inc. increased its stake in shares of Target Corp. by 58.1% in the first quarter. Cullinan Associates Inc. now owns 52,500 shares of the retailer’s stock worth $4,320,000 after buying an additional 19,300 shares during the period. Institutional investors and hedge funds own 84.37% of the company’s stock.
A number of research analysts have commented on the stock. Nomura reaffirmed a “hold” rating and issued a $75.00 target price on shares of Target Corp. in a research report on Thursday. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $79.00 target price on shares of Target Corp. in a research report on Thursday. Telsey Advisory Group upped their target price on shares of Target Corp. from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday. Buckingham Research upped their target price on shares of Target Corp. to $85.00 in a research report on Wednesday, November 16th. Finally, Vetr cut shares of Target Corp. from a “hold” rating to a “sell” rating and set a $68.64 target price on the stock. in a research report on Tuesday, November 15th. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $74.62.
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.
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