Investors Purchase High Volume of Put Options on Target Corporation (TGT)
Target Corporation (NYSE:TGT) saw some unusual options trading activity on Monday. Stock traders purchased 11,895 put options on the company. This represents an increase of 113% compared to the typical daily volume of 5,575 put options.
TGT has been the subject of a number of recent analyst reports. Vetr cut Target Corporation from a “strong-buy” rating to a “buy” rating and set a $58.97 price target for the company. in a research note on Friday, July 14th. Zacks Investment Research raised Target Corporation from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research note on Tuesday, June 6th. BidaskClub raised Target Corporation from a “hold” rating to a “buy” rating in a research note on Sunday, August 6th. MKM Partners upped their price target on Target Corporation from $58.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday, August 17th. Finally, ValuEngine cut Target Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Five investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $61.64.
In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $59.37, for a total value of $277,792.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert M. Harrison sold 2,639 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $52.05, for a total value of $137,359.95. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.
A number of institutional investors have recently made changes to their positions in TGT. Parallel Advisors LLC grew its holdings in Target Corporation by 23.8% during the second quarter. Parallel Advisors LLC now owns 2,072 shares of the retailer’s stock worth $117,000 after buying an additional 399 shares in the last quarter. Penserra Capital Management LLC grew its holdings in Target Corporation by 9.5% during the first quarter. Penserra Capital Management LLC now owns 2,346 shares of the retailer’s stock worth $129,000 after buying an additional 204 shares in the last quarter. Davidson Investment Advisors grew its holdings in Target Corporation by 18.5% during the first quarter. Davidson Investment Advisors now owns 2,559 shares of the retailer’s stock worth $141,000 after buying an additional 400 shares in the last quarter. Kistler Tiffany Companies LLC grew its holdings in Target Corporation by 19.1% during the second quarter. Kistler Tiffany Companies LLC now owns 2,775 shares of the retailer’s stock worth $145,000 after buying an additional 445 shares in the last quarter. Finally, Sandy Spring Bank grew its holdings in Target Corporation by 6.7% during the second quarter. Sandy Spring Bank now owns 2,959 shares of the retailer’s stock worth $155,000 after buying an additional 185 shares in the last quarter. Institutional investors and hedge funds own 83.22% of the company’s stock.
Shares of Target Corporation (NYSE:TGT) opened at 58.99 on Friday. The firm has a market cap of $32.22 billion, a P/E ratio of 11.92 and a beta of 0.60. Target Corporation has a 12-month low of $48.56 and a 12-month high of $79.33. The stock has a 50 day moving average price of $56.82 and a 200 day moving average price of $55.00.
Target Corporation (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.03. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%. The business had revenue of $16.43 billion during the quarter, compared to the consensus estimate of $16.30 billion. During the same quarter in the prior year, the company posted $1.23 earnings per share. Target Corporation’s revenue was up 1.6% compared to the same quarter last year. On average, equities analysts expect that Target Corporation will post $4.51 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Wednesday, November 15th will be issued a dividend of $0.62 per share. The ex-dividend date is Tuesday, November 14th. This represents a $2.48 annualized dividend and a yield of 4.20%. Target Corporation’s dividend payout ratio (DPR) is currently 50.00%.
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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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