Target (NYSE:TGT) Trading Up 2.9% – Here’s Why

Target Co. (NYSE:TGT)’s stock price rose 2.9% on Friday . The company traded as high as $96.46 and last traded at $96.19. Approximately 1,722,836 shares changed hands during trading, a decline of 71% from the average daily volume of 6,020,670 shares. The stock had previously closed at $93.52.

Analyst Ratings Changes

TGT has been the subject of several analyst reports. Gordon Haskett lowered shares of Target from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. lifted their target price on shares of Target from $105.00 to $109.00 and gave the stock a “neutral” rating in a research note on Thursday, May 22nd. Guggenheim dropped their target price on shares of Target from $155.00 to $115.00 and set a “buy” rating on the stock in a report on Tuesday, May 27th. Cfra Research cut shares of Target from a “moderate buy” rating to a “hold” rating in a research report on Thursday, April 17th. Finally, Sanford C. Bernstein lowered Target from a “market perform” rating to an “underperform” rating and lowered their price objective for the stock from $97.00 to $82.00 in a research report on Monday, May 12th. One research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $116.70.

Target Trading Up 4.1%

The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The firm has a fifty day simple moving average of $95.24 and a two-hundred day simple moving average of $116.12. The firm has a market capitalization of $44.22 billion, a P/E ratio of 10.32, a price-to-earnings-growth ratio of 1.94 and a beta of 1.22.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $24.20 billion for the quarter, compared to analysts’ expectations of $24.54 billion. During the same period in the prior year, the company earned $2.03 EPS. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. On average, equities research analysts anticipate that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th were given a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 4.60%. The ex-dividend date of this dividend was Wednesday, May 14th. Target’s dividend payout ratio (DPR) is currently 49.23%.

Insider Activity at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the sale, the insider now owns 246,453 shares in the company, valued at $23,703,849.54. This represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is currently owned by corporate insiders.

Institutional Trading of Target

Several institutional investors and hedge funds have recently bought and sold shares of TGT. Hopwood Financial Services Inc. purchased a new stake in shares of Target in the fourth quarter worth $29,000. Bernard Wealth Management Corp. bought a new position in Target in the 4th quarter worth about $29,000. WPG Advisers LLC purchased a new stake in shares of Target in the 1st quarter valued at about $32,000. Legacy Investment Solutions LLC grew its holdings in shares of Target by 47.5% during the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock worth $35,000 after purchasing an additional 85 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new position in Target in the 4th quarter worth approximately $36,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.