Target (NYSE:TGT) Sees Large Volume Increase

Target Co. (NYSE:TGTGet Rating) saw strong trading volume on Wednesday . 185,183 shares traded hands during mid-day trading, a decline of 95% from the previous session’s volume of 3,446,460 shares.The stock last traded at $176.30 and had previously closed at $180.19.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. UBS Group reduced their target price on Target from $225.00 to $205.00 and set a “buy” rating for the company in a report on Wednesday, June 8th. Jefferies Financial Group cut their price objective on Target from $252.00 to $168.00 and set a “hold” rating for the company in a report on Thursday, May 19th. Cowen cut their price objective on Target from $265.00 to $190.00 and set an “outperform” rating for the company in a report on Thursday, May 19th. Tigress Financial cut their price objective on Target from $320.00 to $215.00 and set a “buy” rating for the company in a report on Friday, July 29th. Finally, Piper Sandler began coverage on Target in a report on Friday, July 22nd. They set a “neutral” rating and a $190.00 price objective for the company. Nine analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Target currently has a consensus rating of “Moderate Buy” and a consensus price target of $189.15.

Target Trading Down 2.9 %

The firm has a market capitalization of $81.15 billion, a P/E ratio of 14.46, a PEG ratio of 2.01 and a beta of 1.03. The company has a quick ratio of 0.14, a current ratio of 0.87 and a debt-to-equity ratio of 1.24. The business has a 50-day moving average price of $153.39 and a 200-day moving average price of $190.37.

Target (NYSE:TGTGet Rating) last released its quarterly earnings data on Wednesday, August 17th. The retailer reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.32). The firm had revenue of $26.04 billion for the quarter, compared to the consensus estimate of $26.07 billion. Target had a net margin of 5.48% and a return on equity of 44.75%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.64 earnings per share. Analysts anticipate that Target Co. will post 8.43 earnings per share for the current year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, September 10th. Stockholders of record on Wednesday, August 17th will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Tuesday, August 16th. This is a boost from Target’s previous quarterly dividend of $0.90. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.47%. Target’s payout ratio is currently 29.85%.

Insider Activity

In related news, insider John J. Mulligan sold 45,490 shares of the business’s stock in a transaction on Friday, June 17th. The stock was sold at an average price of $139.98, for a total value of $6,367,690.20. Following the sale, the insider now owns 157,333 shares of the company’s stock, valued at approximately $22,023,473.34. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.29% of the stock is currently owned by company insiders.

Institutional Trading of Target

Several institutional investors have recently bought and sold shares of the stock. Measured Wealth Private Client Group LLC boosted its stake in Target by 3.4% in the first quarter. Measured Wealth Private Client Group LLC now owns 1,322 shares of the retailer’s stock worth $281,000 after purchasing an additional 43 shares in the last quarter. J2 Capital Management Inc boosted its stake in Target by 3.1% in the first quarter. J2 Capital Management Inc now owns 1,524 shares of the retailer’s stock worth $323,000 after purchasing an additional 46 shares in the last quarter. Tortoise Investment Management LLC boosted its stake in Target by 18.5% in the fourth quarter. Tortoise Investment Management LLC now owns 301 shares of the retailer’s stock worth $70,000 after purchasing an additional 47 shares in the last quarter. Cypress Capital LLC boosted its stake in Target by 0.8% in the fourth quarter. Cypress Capital LLC now owns 5,807 shares of the retailer’s stock worth $1,344,000 after purchasing an additional 47 shares in the last quarter. Finally, Carolinas Wealth Consulting LLC boosted its stake in Target by 5.4% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 944 shares of the retailer’s stock worth $218,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 81.83% of the company’s stock.

About Target

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Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

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