Target Corp. (NYSE:TGT) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 46,044,537 shares, an increase of 15.4% from the August 31st total of 39,914,460 shares. Based on an average trading volume of 7,129,825 shares, the short-interest ratio is currently 6.5 days. Approximately 8.0% of the shares of the stock are sold short.
Target Corp. (NYSE:TGT) opened at 68.68 on Friday. Target Corp. has a 1-year low of $65.50 and a 1-year high of $84.14. The firm has a market cap of $39.48 billion, a P/E ratio of 12.71 and a beta of 0.68. The firm’s 50-day moving average price is $70.09 and its 200-day moving average price is $73.93.
Target Corp. (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 17th. The retailer reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.11. Target Corp. had a net margin of 4.59% and a return on equity of 23.59%. The business earned $16.20 billion during the quarter. During the same quarter in the previous year, the company earned $1.22 earnings per share. The business’s quarterly revenue was down 7.2% on a year-over-year basis. Equities research analysts anticipate that Target Corp. will post $4.96 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Stockholders of record on Wednesday, November 16th will be issued a dividend of $0.60 per share. The ex-dividend date is Monday, November 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.49%. Target Corp.’s dividend payout ratio is currently 44.44%.
Several hedge funds have recently bought and sold shares of the company. Ropes Wealth Advisors LLC raised its stake in Target Corp. by 9.1% in the second quarter. Ropes Wealth Advisors LLC now owns 1,527 shares of the retailer’s stock worth $107,000 after buying an additional 127 shares in the last quarter. Arcadia Investment Management Corp MI raised its stake in Target Corp. by 41.7% in the second quarter. Arcadia Investment Management Corp MI now owns 1,700 shares of the retailer’s stock worth $119,000 after buying an additional 500 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in Target Corp. by 1.9% in the second quarter. Loomis Sayles & Co. L P now owns 2,201 shares of the retailer’s stock worth $154,000 after buying an additional 42 shares in the last quarter. Acrospire Investment Management LLC purchased a new stake in Target Corp. during the first quarter worth $165,000. Finally, Duncker Streett & Co. Inc. raised its stake in Target Corp. by 4.4% in the second quarter. Duncker Streett & Co. Inc. now owns 2,370 shares of the retailer’s stock worth $165,000 after buying an additional 100 shares in the last quarter. Institutional investors own 86.19% of the company’s stock.
A number of research firms have commented on TGT. Cowen and Company restated an “outperform” rating and set a $75.00 price objective (down previously from $81.00) on shares of Target Corp. in a research note on Wednesday, August 17th. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $72.00 target price on shares of Target Corp. in a report on Sunday, August 21st. Zacks Investment Research raised Target Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, July 26th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $76.00 target price on shares of Target Corp. in a report on Wednesday, July 6th. Finally, Vetr raised Target Corp. from a “hold” rating to a “buy” rating and set a $75.70 target price on the stock in a report on Monday, July 4th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $77.12.
About Target Corp.
Target Corporation offers everyday essentials and merchandise to its customers. The Company sells a range of general merchandise and food through its store and digital channels. The Company’s general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items.
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