Traders Buy Shares of Target (TGT) on Weakness
Traders bought shares of Target Co. (NYSE:TGT) on weakness during trading on Tuesday. $91.19 million flowed into the stock on the tick-up and $53.88 million flowed out of the stock on the tick-down, for a money net flow of $37.31 million into the stock. Of all companies tracked, Target had the 22nd highest net in-flow for the day. Target traded down ($1.15) for the day and closed at $84.32
Several research analysts have weighed in on the company. Citigroup boosted their price target on Target from $76.00 to $92.00 and gave the stock a “neutral” rating in a research report on Monday, August 27th. Stifel Nicolaus boosted their price target on Target from $85.00 to $93.00 and gave the stock a “hold” rating in a research report on Thursday, August 23rd. BMO Capital Markets assumed coverage on Target in a research report on Monday, September 17th. They set a “market perform” rating and a $88.00 price target on the stock. Wolfe Research lowered Target from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 23rd. Finally, Barclays boosted their price target on Target from $70.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 23rd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $88.74.
The company has a debt-to-equity ratio of 1.09, a current ratio of 0.82 and a quick ratio of 0.17. The firm has a market capitalization of $45.76 billion, a price-to-earnings ratio of 17.90, a P/E/G ratio of 2.40 and a beta of 0.73.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Wednesday, November 21st will be issued a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Tuesday, November 20th. Target’s payout ratio is presently 54.35%.
In related news, insider Stephanie A. Lundquist sold 2,100 shares of the business’s stock in a transaction on Tuesday, October 9th. The stock was sold at an average price of $86.00, for a total value of $180,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Janna A. Potts sold 15,172 shares of the business’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $88.00, for a total value of $1,335,136.00. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd bought a new stake in Target in the 3rd quarter valued at $104,000. Sun Life Financial INC boosted its stake in Target by 739.5% in the 2nd quarter. Sun Life Financial INC now owns 1,444 shares of the retailer’s stock valued at $110,000 after purchasing an additional 1,272 shares during the period. CSat Investment Advisory L.P. bought a new stake in Target in the 2nd quarter valued at $114,000. Duncker Streett & Co. Inc. lifted its position in shares of Target by 1,435.0% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 1,535 shares of the retailer’s stock valued at $117,000 after acquiring an additional 1,435 shares during the period. Finally, Squar Milner Financial Services LLC bought a new stake in shares of Target during the 2nd quarter valued at $129,000. Institutional investors and hedge funds own 83.75% of the company’s stock.
Target Company Profile (NYSE:TGT)
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.
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