Target Co. (NYSE:TGT) – Analysts at Jefferies Group boosted their Q2 2019 earnings estimates for shares of Target in a report issued on Tuesday. Jefferies Group analyst D. Binder now expects that the retailer will earn $1.31 per share for the quarter, up from their previous estimate of $1.12.
Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, November 15th. The retailer reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. Target had a return on equity of 24.09% and a net margin of 3.80%. The company had revenue of $16.67 billion during the quarter, compared to analyst estimates of $16.61 billion. During the same period in the previous year, the company earned $1.04 earnings per share. The company’s quarterly revenue was up 1.4% compared to the same quarter last year.
A number of other research analysts have also commented on TGT. BMO Capital Markets reiterated a “market weight” rating on shares of Target in a report on Thursday, September 14th. TheStreet upgraded Target from a “c+” rating to a “b” rating in a report on Thursday, September 28th. Zacks Investment Research upgraded Target from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Tuesday, October 10th. MKM Partners started coverage on Target in a research note on Wednesday, October 18th. They issued a “buy” rating and a $85.00 target price for the company. Finally, Stifel Nicolaus set a $60.00 target price on Target and gave the company a “hold” rating in a research note on Wednesday, October 18th. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $66.15.
Shares of Target (TGT) traded up $2.77 during mid-day trading on Thursday, hitting $76.80. The stock had a trading volume of 14,850,000 shares, compared to its average volume of 7,690,000. Target has a one year low of $48.56 and a one year high of $77.00. The firm has a market capitalization of $41,750.00, a price-to-earnings ratio of 16.13, a PEG ratio of 8.18 and a beta of 0.63. The company has a current ratio of 0.96, a quick ratio of 0.27 and a debt-to-equity ratio of 1.01.
The business also recently declared a quarterly dividend, which will be paid on Saturday, March 10th. Shareholders of record on Wednesday, February 21st will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Tuesday, February 20th. Target’s dividend payout ratio (DPR) is 52.10%.
In other Target news, Director Roxanne S. Austin sold 4,705 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $62.61, for a total value of $294,580.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Fiera Capital Corp grew its position in Target by 0.4% in the second quarter. Fiera Capital Corp now owns 4,888 shares of the retailer’s stock valued at $256,000 after acquiring an additional 19 shares during the period. WealthTrust Fairport LLC grew its position in Target by 1.6% in the second quarter. WealthTrust Fairport LLC now owns 6,051 shares of the retailer’s stock valued at $316,000 after acquiring an additional 93 shares during the period. Security National Bank of Sioux City Iowa IA grew its position in Target by 0.8% in the second quarter. Security National Bank of Sioux City Iowa IA now owns 13,341 shares of the retailer’s stock valued at $698,000 after acquiring an additional 102 shares during the period. Hugh Johnson Advisors LLC grew its position in Target by 2.0% in the second quarter. Hugh Johnson Advisors LLC now owns 5,673 shares of the retailer’s stock valued at $297,000 after acquiring an additional 109 shares during the period. Finally, Cheviot Value Management LLC grew its position in Target by 1.5% in the second quarter. Cheviot Value Management LLC now owns 8,483 shares of the retailer’s stock valued at $444,000 after acquiring an additional 126 shares during the period. Hedge funds and other institutional investors own 87.42% of the company’s stock.
Target Company Profile
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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