Target Co. (NYSE:TGT) was the recipient of a large decline in short interest during the month of June. As of June 30th, there was short interest totalling 18,987,200 shares, a decline of 12.3% from the May 30th total of 21,652,000 shares. Currently, 3.7% of the company’s stock are sold short. Based on an average trading volume of 5,100,000 shares, the days-to-cover ratio is presently 3.7 days.
A number of brokerages recently weighed in on TGT. Sanford C. Bernstein set a €87.00 ($101.16) price target on shares of Henkel AG & Co KGaA and gave the stock a “neutral” rating in a report on Friday, May 3rd. Telsey Advisory Group reissued a “market perform” rating and issued a $64.00 price target (up from $58.00) on shares of Las Vegas Sands in a report on Thursday, April 18th. Evercore ISI began coverage on shares of Polarityte in a report on Wednesday, March 20th. They issued an “outperform” rating and a $26.00 price target on the stock. Morgan Stanley boosted their price target on shares of United Technologies from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Finally, UBS Group downgraded shares of AGL Energy to a “sell” rating in a report on Thursday, May 23rd. Twelve research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $89.83.
In related news, insider Michael Edward Mcnamara sold 11,891 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $88.79, for a total value of $1,055,801.89. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Stephanie A. Lundquist sold 8,367 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $88.01, for a total transaction of $736,379.67. The disclosure for this sale can be found here. Insiders have sold a total of 33,180 shares of company stock worth $2,854,650 over the last ninety days. Insiders own 0.19% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Altman Advisors Inc. increased its position in shares of Target by 0.6% during the second quarter. Altman Advisors Inc. now owns 30,656 shares of the retailer’s stock valued at $2,655,000 after buying an additional 189 shares during the period. Community Bank & Trust Waco Texas increased its position in shares of Target by 8.7% during the second quarter. Community Bank & Trust Waco Texas now owns 8,522 shares of the retailer’s stock valued at $738,000 after buying an additional 681 shares during the period. Diversified Trust Co increased its position in shares of Target by 189.5% during the second quarter. Diversified Trust Co now owns 18,372 shares of the retailer’s stock valued at $1,591,000 after buying an additional 12,025 shares during the period. Stock Yards Bank & Trust Co. increased its position in shares of Target by 9.2% during the second quarter. Stock Yards Bank & Trust Co. now owns 13,693 shares of the retailer’s stock valued at $1,186,000 after buying an additional 1,158 shares during the period. Finally, Ipswich Investment Management Co. Inc. increased its position in shares of Target by 9.1% during the second quarter. Ipswich Investment Management Co. Inc. now owns 11,340 shares of the retailer’s stock valued at $982,000 after buying an additional 950 shares during the period. 83.42% of the stock is currently owned by institutional investors and hedge funds.
NYSE TGT opened at $87.53 on Friday. The stock has a market capitalization of $44.84 billion, a P/E ratio of 16.24, a PEG ratio of 2.09 and a beta of 0.60. Target has a 52 week low of $60.15 and a 52 week high of $90.39. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.19 and a current ratio of 0.88. The firm’s 50-day simple moving average is $85.82.
Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, May 22nd. The retailer reported $1.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.10. The business had revenue of $17.63 billion for the quarter, compared to the consensus estimate of $17.49 billion. Target had a net margin of 3.96% and a return on equity of 26.48%. The company’s revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.32 earnings per share. As a group, equities research analysts expect that Target will post 5.92 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be issued a dividend of $0.66 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This is an increase from Target’s previous quarterly dividend of $0.64. This represents a $2.64 annualized dividend and a yield of 3.02%. Target’s dividend payout ratio is 47.50%.
Target Company Profile
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.
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