Traders Buy Shares of Target Corporation (TGT) on Weakness
Traders bought shares of Target Corporation (NYSE:TGT) on weakness during trading on Tuesday. $42.48 million flowed into the stock on the tick-up and $30.94 million flowed out of the stock on the tick-down, for a money net flow of $11.54 million into the stock. Of all stocks tracked, Target Corporation had the 29th highest net in-flow for the day. Target Corporation traded down ($0.31) for the day and closed at $58.58
Several analysts have commented on TGT shares. BidaskClub upgraded shares of Target Corporation from a “hold” rating to a “buy” rating in a report on Sunday, August 6th. Vetr downgraded Target Corporation from a “buy” rating to a “hold” rating and set a $59.67 target price on the stock. in a report on Monday, August 7th. Zacks Investment Research downgraded Target Corporation from a “buy” rating to a “hold” rating in a report on Monday, August 21st. Jefferies Group LLC reissued a “hold” rating on shares of Target Corporation in a research report on Friday, August 25th. Finally, BMO Capital Markets reissued a “market weight” rating on shares of Target Corporation in a research report on Thursday, September 14th. Five investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $61.64.
The firm’s 50-day moving average is $57.26 and its 200-day moving average is $55.24. The stock has a market cap of $32.00 billion, a PE ratio of 11.84 and a beta of 0.62. Target Corporation also was the recipient of unusually large options trading on Monday. Traders bought 10,752 put options on the stock. This is an increase of 126% compared to the average volume of 4,756 put options.
Target Corporation (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share for the quarter, beating the 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 company had revenue of $16.43 billion during the quarter, compared to analysts’ expectations of $16.30 billion. During the same period last year, the business earned $1.23 earnings per share. Target Corporation’s quarterly revenue was up 1.6% on a year-over-year basis. Equities analysts predict that Target Corporation will post $4.51 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Wednesday, November 15th will be given a $0.62 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $2.48 annualized dividend and a yield of 4.23%. Target Corporation’s dividend payout ratio is presently 50.00%.
In other news, insider Robert M. Harrison sold 2,639 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total transaction of $137,359.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Hourigan Rice Jacqueline sold 4,679 shares of the firm’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 disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC boosted its position 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 purchasing an additional 399 shares in the last quarter. Penserra Capital Management LLC grew its holdings 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 purchasing an additional 204 shares during the period. Davidson Investment Advisors grew its holdings 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 purchasing an additional 400 shares during the period. Kistler Tiffany Companies LLC grew its holdings 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 purchasing an additional 445 shares during the period. Finally, Sandy Spring Bank grew its holdings in Target Corporation by 6.7% in the second quarter. Sandy Spring Bank now owns 2,959 shares of the retailer’s stock valued at $155,000 after purchasing an additional 185 shares during the period. Hedge funds and other institutional investors own 83.22% 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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