Equities analysts expect Target Co. (NYSE:TGT) to post $16.48 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Target’s earnings. The highest sales estimate is $16.57 billion and the lowest is $16.37 billion. Target reported sales of $16.02 billion during the same quarter last year, which would suggest a positive year over year growth rate of 2.9%. The business is expected to report its next quarterly earnings results before the market opens on Wednesday, May 23rd.
According to Zacks, analysts expect that Target will report full year sales of $72.42 billion for the current fiscal year, with estimates ranging from $71.60 billion to $72.76 billion. For the next fiscal year, analysts anticipate that the company will post sales of $73.89 billion per share, with estimates ranging from $72.59 billion to $74.49 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Target.
Target (NYSE:TGT) last issued its quarterly earnings results on Tuesday, March 6th. The retailer reported $1.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.39 by ($0.02). The business had revenue of $22.77 billion during the quarter, compared to the consensus estimate of $22.56 billion. Target had a return on equity of 23.04% and a net margin of 4.08%. The firm’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.45 earnings per share.
Several research analysts recently issued reports on the stock. Vetr lowered shares of Target from a “hold” rating to a “sell” rating and set a $73.66 price target for the company. in a research note on Tuesday, February 27th. Citigroup restated a “neutral” rating and set a $80.00 price objective (down from $86.00) on shares of Target in a research note on Friday, February 16th. Credit Suisse Group initiated coverage on shares of Target in a research note on Monday, February 26th. They set an “outperform” rating and a $86.00 price objective for the company. MKM Partners set a $93.00 price objective on shares of Target and gave the company a “buy” rating in a research note on Wednesday, May 16th. Finally, Wolfe Research upgraded shares of Target from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $74.37.
Shares of Target stock opened at $75.94 on Monday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.95 and a quick ratio of 0.30. The stock has a market capitalization of $40.70 billion, a P/E ratio of 16.12, a price-to-earnings-growth ratio of 2.74 and a beta of 0.71. Target has a 1 year low of $48.56 and a 1 year high of $78.70.
The business also recently declared a quarterly dividend, which will be paid on Sunday, June 10th. Stockholders of record on Wednesday, May 16th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Tuesday, May 15th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.27%. Target’s dividend payout ratio is presently 52.65%.
In other news, insider John J. Mulligan sold 118,373 shares of Target stock in a transaction that occurred on Tuesday, April 3rd. The shares were sold at an average price of $69.37, for a total value of $8,211,535.01. Following the completion of the sale, the insider now directly owns 195,906 shares in the company, valued at $13,589,999.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Don H. Liu sold 2,735 shares of Target stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $75.00, for a total transaction of $205,125.00. Following the completion of the sale, the insider now owns 62,210 shares of the company’s stock, valued at $4,665,750. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.
Several hedge funds have recently made changes to their positions in TGT. Schwab Charles Investment Management Inc. grew its stake in shares of Target by 6.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,422,083 shares of the retailer’s stock worth $223,291,000 after acquiring an additional 218,318 shares during the period. Fox Run Management L.L.C. purchased a new position in shares of Target in the fourth quarter worth approximately $331,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Target by 19.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 44,114 shares of the retailer’s stock worth $2,878,000 after buying an additional 7,170 shares during the last quarter. Patten & Patten Inc. TN boosted its holdings in shares of Target by 57.9% in the fourth quarter. Patten & Patten Inc. TN now owns 6,750 shares of the retailer’s stock worth $440,000 after buying an additional 2,475 shares during the last quarter. Finally, Regentatlantic Capital LLC boosted its holdings in shares of Target by 1.5% in the fourth quarter. Regentatlantic Capital LLC now owns 61,549 shares of the retailer’s stock worth $4,016,000 after buying an additional 905 shares during the last quarter. Hedge funds and other institutional investors own 88.98% of the company’s stock.
Target Company Profile
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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