Traders Buy Target (TGT) on Weakness

Traders purchased shares of Target Co. (NYSE:TGT) on weakness during trading on Tuesday. $160.56 million flowed into the stock on the tick-up and $74.17 million flowed out of the stock on the tick-down, for a money net flow of $86.39 million into the stock. Of all stocks tracked, Target had the 10th highest net in-flow for the day. Target traded down ($1.40) for the day and closed at $75.47

TGT has been the subject of a number of analyst reports. Wolfe Research raised shares of Target from an “underperform” rating to a “market perform” rating in a research report on Monday, April 16th. Robert W. Baird raised shares of Target from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $75.00 to $85.00 in a research report on Wednesday, February 14th. Cowen set a $80.00 price objective on shares of Target and gave the company a “hold” rating in a research report on Thursday, February 8th. Vetr cut shares of Target from a “hold” rating to a “sell” rating and set a $73.66 price objective for the company. in a research report on Thursday, February 15th. Finally, Citigroup reissued a “neutral” rating and issued a $80.00 price objective (down from $86.00) on shares of Target in a research report on Friday, February 16th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Target currently has a consensus rating of “Hold” and an average target price of $74.26.

The company has a market capitalization of $40.70 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 2.74 and a beta of 0.71. The company has a current ratio of 0.95, a quick ratio of 0.30 and a debt-to-equity ratio of 0.97.

Target (NYSE:TGT) last released its quarterly earnings data on Tuesday, March 6th. The retailer reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.02). The business had revenue of $22.77 billion for the quarter, compared to analyst estimates of $22.56 billion. Target had a return on equity of 23.04% and a net margin of 4.08%. Target’s revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.45 EPS. research analysts expect that Target Co. will post 5.29 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 10th. Shareholders of record on Wednesday, May 16th will be paid a $0.62 dividend. The ex-dividend date is Tuesday, May 15th. This represents a $2.48 annualized dividend and a dividend yield of 3.29%. Target’s payout ratio is currently 52.65%.

In other Target news, insider Don H. Liu sold 2,735 shares of the firm’s stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $75.00, for a total value of $205,125.00. Following the sale, the insider now owns 62,210 shares in the company, valued at $4,665,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John J. Mulligan sold 118,373 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 195,906 shares in the company, valued at approximately $13,589,999.22. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the business. TIAA CREF Investment Management LLC increased its stake in shares of Target by 85.0% during the fourth quarter. TIAA CREF Investment Management LLC now owns 3,299,194 shares of the retailer’s stock valued at $215,272,000 after acquiring an additional 1,515,618 shares during the period. American Century Companies Inc. increased its stake in shares of Target by 17.1% during the first 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 during the period. Teachers Advisors LLC increased its stake in shares of Target by 101.8% during the fourth quarter. Teachers Advisors LLC now owns 1,879,844 shares of the retailer’s stock valued at $122,660,000 after acquiring an additional 948,075 shares during the period. Hamlin Capital Management LLC acquired a new position in shares of Target during the fourth quarter valued at approximately $60,860,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Target by 9.4% during the fourth quarter. Bank of New York Mellon Corp now owns 10,654,835 shares of the retailer’s stock valued at $695,229,000 after acquiring an additional 916,178 shares during the period. Institutional investors own 84.88% 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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