Investors Buy Shares of Target (TGT) on Weakness

Traders purchased shares of Target Co. (NYSE:TGT) on weakness during trading hours on Thursday. $205.61 million flowed into the stock on the tick-up and $147.52 million flowed out of the stock on the tick-down, for a money net flow of $58.09 million into the stock. Of all stocks tracked, Target had the 24th highest net in-flow for the day. Target traded down ($1.78) for the day and closed at $59.90

TGT has been the subject of a number of recent research reports. TheStreet upgraded Target from a “c+” rating to a “b” rating in a research note on Thursday, September 28th. MKM Partners boosted their price objective on Target from $58.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday, August 17th. Vetr upgraded Target from a “hold” rating to a “buy” rating and set a $59.67 price objective for the company in a research note on Monday, August 14th. BidaskClub upgraded Target from a “hold” rating to a “buy” rating in a research note on Sunday, August 6th. Finally, Zacks Investment Research upgraded Target from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research note on Tuesday, October 10th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $63.25.

The company has a debt-to-equity ratio of 1.01, a current ratio of 0.96 and a quick ratio of 0.27. The stock has a market capitalization of $32,560.01, a price-to-earnings ratio of 12.48, a P/E/G ratio of 7.41 and a beta of 0.64.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, November 15th. The retailer reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $16.61 billion. During the same period in the previous year, the firm earned $1.04 EPS. The firm’s revenue was up 1.4% compared to the same quarter last year. research analysts forecast that Target Co. will post 4.54 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Wednesday, November 15th will be issued a $0.62 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $2.48 dividend on an annualized basis and a yield of 4.17%. Target’s dividend payout ratio is presently 51.88%.

In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $59.37, for a total transaction of $277,792.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Shelton Capital Management raised its holdings in shares of Target by 5.1% during the 3rd quarter. Shelton Capital Management now owns 52,224 shares of the retailer’s stock worth $3,082,000 after acquiring an additional 2,553 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Target during the 3rd quarter valued at $2,180,000. Optimum Investment Advisors purchased a new stake in Target during the 3rd quarter valued at $204,000. Public Employees Retirement System of Ohio raised its holdings in Target by 0.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 382,859 shares of the retailer’s stock valued at $22,593,000 after buying an additional 1,455 shares during the period. Finally, Cambridge Financial Group Inc. raised its holdings in Target by 6.9% during the 3rd quarter. Cambridge Financial Group Inc. now owns 108,279 shares of the retailer’s stock valued at $6,390,000 after buying an additional 7,035 shares during the period. 87.26% of the stock is currently owned by institutional investors and hedge funds.

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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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