Traders Buy Shares of Target (TGT) on Weakness

Investors purchased shares of Target Co. (NYSE:TGT) on weakness during trading hours on Monday. $109.72 million flowed into the stock on the tick-up and $55.98 million flowed out of the stock on the tick-down, for a money net flow of $53.74 million into the stock. Of all stocks tracked, Target had the 5th highest net in-flow for the day. Target traded down ($0.57) for the day and closed at $71.88

A number of analysts recently weighed in on the stock. Vetr raised shares of Target from a “sell” rating to a “hold” rating and set a $72.52 target price on the stock in a research note on Monday, February 5th. Cowen set a $80.00 price objective on shares of Target and gave the stock a “hold” rating in a research note on Thursday. Stifel Nicolaus set a $60.00 price objective on shares of Target and gave the stock a “hold” rating in a research note on Wednesday, October 18th. Robert W. Baird reaffirmed a “hold” rating and set a $70.00 price objective on shares of Target in a research note on Wednesday, January 3rd. Finally, Barclays raised shares of Target from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $45.00 to $70.00 in a research note on Friday, January 5th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $67.64.

The company has a market capitalization of $39,070.00, a PE ratio of 15.10, a PEG ratio of 3.42 and a beta of 0.75. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.96 and a quick ratio of 0.27.

Target (NYSE:TGT) last announced its earnings results on Wednesday, November 15th. The retailer reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.05. Target had a net margin of 3.80% and a return on equity of 24.09%. The company had revenue of $16.67 billion for the quarter, compared to analyst estimates of $16.61 billion. During the same period in the prior year, the business earned $1.04 earnings per share. Target’s quarterly revenue was up 1.4% on a year-over-year basis. analysts expect that Target Co. will post 4.72 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Wednesday, February 21st will be issued a $0.62 dividend. The ex-dividend date is Tuesday, February 20th. This represents a $2.48 annualized dividend and a yield of 3.45%. Target’s dividend payout ratio is currently 52.10%.

In related news, Director Roxanne S. Austin sold 4,705 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $62.61, for a total value of $294,580.05. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Stephanie A. Lundquist sold 3,000 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $78.08, for a total transaction of $234,240.00. Following the completion of the transaction, the insider now owns 16,906 shares in the company, valued at $1,320,020.48. The disclosure for this sale can be found here. Insiders sold 16,262 shares of company stock worth $1,185,484 over the last 90 days. 0.20% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Security National Bank of Sioux City Iowa IA lifted its holdings 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 buying an additional 102 shares during the period. Rowland & Co. Investment Counsel ADV lifted its holdings in Target by 4.7% in the second quarter. Rowland & Co. Investment Counsel ADV now owns 2,956 shares of the retailer’s stock valued at $155,000 after buying an additional 132 shares during the period. Security National Bank of SO Dak lifted its holdings in Target by 2.0% in the second quarter. Security National Bank of SO Dak now owns 10,333 shares of the retailer’s stock valued at $540,000 after buying an additional 207 shares during the period. Quadrant Capital Group LLC lifted its holdings in Target by 3.3% in the second quarter. Quadrant Capital Group LLC now owns 10,910 shares of the retailer’s stock valued at $556,000 after buying an additional 352 shares during the period. Finally, Roberts Glore & Co. Inc. IL lifted its holdings in Target by 10.6% in the second quarter. Roberts Glore & Co. Inc. IL now owns 5,755 shares of the retailer’s stock valued at $301,000 after buying an additional 550 shares during the period. Institutional investors and hedge funds own 87.85% of the company’s stock.

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About Target

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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