Investors Buy Target (TGT) on Weakness

Investors bought shares of Target Co. (NYSE:TGT) on weakness during trading hours on Tuesday. $65.94 million flowed into the stock on the tick-up and $36.36 million flowed out of the stock on the tick-down, for a money net flow of $29.58 million into the stock. Of all companies tracked, Target had the 28th highest net in-flow for the day. Target traded down ($0.51) for the day and closed at $76.33

Several research analysts recently commented on the stock. Credit Suisse Group set a $86.00 target price on shares of Target and gave the stock a “buy” rating in a report on Monday, May 14th. ValuEngine upgraded shares of Target from a “hold” rating to a “buy” rating in a report on Monday, May 14th. MKM Partners set a $91.00 target price on shares of Target and gave the stock a “buy” rating in a report on Thursday, May 24th. Susquehanna Bancshares reiterated a “positive” rating and issued a $84.00 target price on shares of Target in a report on Thursday, June 7th. Finally, Vetr upgraded shares of Target from a “buy” rating to a “strong-buy” rating and set a $80.00 target price on the stock in a report on Wednesday, March 21st. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $75.47.

The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.18 and a current ratio of 0.90. The firm has a market capitalization of $40.69 billion, a PE ratio of 16.32, a PEG ratio of 2.41 and a beta of 0.72.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, May 23rd. The retailer reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.06). Target had a return on equity of 23.34% and a net margin of 4.09%. The company had revenue of $16.78 billion for the quarter, compared to the consensus estimate of $16.58 billion. During the same quarter in the previous year, the firm posted $1.21 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. equities analysts forecast that Target Co. will post 5.28 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Wednesday, August 15th will be given a dividend of $0.64 per share. This is a positive change from Target’s previous quarterly dividend of $0.62. This represents a $2.56 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Tuesday, August 14th. Target’s payout ratio is 52.65%.

In other news, insider John J. Mulligan sold 118,373 shares of Target stock in a transaction dated Tuesday, April 3rd. The shares were sold at an average price of $69.37, for a total transaction of $8,211,535.01. Following the sale, the insider now directly owns 195,906 shares in the company, valued at approximately $13,589,999.22. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Don H. Liu sold 2,735 shares of Target stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $75.00, for a total transaction of $205,125.00. Following the sale, the insider now owns 62,210 shares in the company, valued at $4,665,750. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 170,186 shares of company stock worth $12,287,710. 0.19% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of the company. LSV Asset Management boosted its position in shares of Target by 9.0% during the 1st quarter. LSV Asset Management now owns 7,405,839 shares of the retailer’s stock valued at $514,187,000 after acquiring an additional 610,674 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Target by 17.1% during the 1st quarter. American Century Companies Inc. now owns 7,098,208 shares of the retailer’s stock valued at $492,829,000 after acquiring an additional 1,038,937 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Target by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 6,161,995 shares of the retailer’s stock valued at $401,296,000 after acquiring an additional 109,029 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Target by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,160,156 shares of the retailer’s stock valued at $288,826,000 after acquiring an additional 72,185 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Target by 13.2% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 3,874,432 shares of the retailer’s stock valued at $269,002,000 after acquiring an additional 452,349 shares in the last quarter. Institutional investors and hedge funds own 85.42% of the company’s stock.

About Target

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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