Target Corporation Sees Unusually High Options Volume (TGT)
Target Corporation (NYSE:TGT) was the recipient of unusually large options trading on Thursday. Stock investors acquired 27,938 put options on the company. This is an increase of approximately 146% compared to the typical daily volume of 11,363 put options.
A number of equities analysts recently weighed in on TGT shares. ValuEngine cut Target Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Jefferies Group LLC reissued a “hold” rating and issued a $59.00 price target (up previously from $56.00) on shares of Target Corporation in a research note on Friday, May 19th. Vetr raised Target Corporation from a “hold” rating to a “buy” rating and set a $61.86 price target on the stock in a research note on Wednesday, May 10th. Zacks Investment Research raised Target Corporation from a “sell” rating to a “hold” rating in a research note on Monday, May 15th. Finally, BidaskClub raised Target Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Five analysts have rated the stock with a sell rating, nineteen have given a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $61.64.
Shares of Target Corporation (NYSE:TGT) opened at 54.44 on Tuesday. The firm has a market capitalization of $29.74 billion, a price-to-earnings ratio of 11.00 and a beta of 0.61. Target Corporation has a 12-month low of $48.56 and a 12-month high of $79.33. The company has a 50-day moving average price of $55.11 and a 200 day moving average price of $55.88.
Target Corporation (NYSE:TGT) last released its earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.03. The company had revenue of $16.43 billion during the quarter, compared to analyst estimates of $16.30 billion. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%. Target Corporation’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.23 earnings per share. Equities research analysts expect that Target Corporation will post $4.51 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th will be issued a $0.62 dividend. The ex-dividend date is Monday, August 14th. This is a positive change from Target Corporation’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a dividend yield of 4.56%. Target Corporation’s dividend payout ratio is currently 50.00%.
In related news, insider Robert M. Harrison sold 2,639 shares of Target Corporation stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total value of $137,359.95. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.20% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC increased its position in Target Corporation by 23.8% in the second quarter. Parallel Advisors LLC now owns 2,072 shares of the retailer’s stock valued at $117,000 after buying an additional 399 shares during the last quarter. Penserra Capital Management LLC increased its position in Target Corporation by 9.5% in the first quarter. Penserra Capital Management LLC now owns 2,346 shares of the retailer’s stock valued at $129,000 after buying an additional 204 shares during the last quarter. Feltz Wealth PLAN Inc. purchased a new position in Target Corporation during the first quarter valued at approximately $138,000. Davidson Investment Advisors increased its position in Target Corporation by 18.5% in the first quarter. Davidson Investment Advisors now owns 2,559 shares of the retailer’s stock valued at $141,000 after buying an additional 400 shares during the last quarter. Finally, Kistler Tiffany Companies LLC increased its position in Target Corporation by 19.1% in the second quarter. Kistler Tiffany Companies LLC now owns 2,775 shares of the retailer’s stock valued at $145,000 after buying an additional 445 shares during the last quarter. Institutional investors and hedge funds own 83.30% of the company’s stock.
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About Target Corporation
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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