Target Sees Unusually Large Options Volume (TGT)

Target Co. (NYSE:TGT) was the recipient of some unusual options trading activity on Friday. Investors bought 4,604 put options on the company. This represents an increase of approximately 183% compared to the average daily volume of 1,624 put options.

A number of brokerages have commented on TGT. Cowen and Company reiterated a “market perform” rating and issued a $75.00 price target on shares of Target in a research note on Tuesday, February 28th. Vetr cut shares of Target from a “buy” rating to a “hold” rating and set a $59.51 price target for the company. in a research note on Tuesday, May 9th. UBS Group AG reiterated a “neutral” rating and issued a $72.00 price target on shares of Target in a research note on Tuesday, February 28th. Instinet cut their price target on shares of Target to $60.00 in a research note on Wednesday, March 1st. Finally, BMO Capital Markets reiterated a “market weight” rating and issued a $60.00 price target (down previously from $74.00) on shares of Target in a research note on Sunday, March 5th. Six investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $64.76.

Several large investors have recently made changes to their positions in the company. OLD National Bancorp IN increased its stake in shares of Target by 13.8% in the first quarter. OLD National Bancorp IN now owns 62,330 shares of the retailer’s stock worth $3,440,000 after buying an additional 7,547 shares during the last quarter. LSV Asset Management increased its stake in shares of Target by 6.4% in the third quarter. LSV Asset Management now owns 4,849,168 shares of the retailer’s stock worth $333,040,000 after buying an additional 292,180 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in shares of Target by 1.7% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 112,116 shares of the retailer’s stock worth $7,700,000 after buying an additional 1,925 shares during the last quarter. Cascade Investment Advisors Inc. increased its stake in shares of Target by 23.7% in the first quarter. Cascade Investment Advisors Inc. now owns 24,445 shares of the retailer’s stock worth $1,349,000 after buying an additional 4,685 shares during the last quarter. Finally, Aetna Inc. PA purchased a new stake in shares of Target during the fourth quarter worth about $10,470,000. 88.53% of the stock is currently owned by hedge funds and other institutional investors.

Target (NYSE TGT) opened at 54.63 on Friday. The firm has a 50-day moving average of $55.55 and a 200 day moving average of $62.76. Target has a 12-month low of $52.72 and a 12-month high of $79.33. The company has a market capitalization of $30.14 billion, a price-to-earnings ratio of 11.19 and a beta of 0.63.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.30. Target had a net margin of 4.75% and a return on equity of 25.18%. The firm had revenue of $16.02 billion for the quarter, compared to the consensus estimate of $15.63 billion. During the same period in the prior year, the firm posted $1.29 earnings per share. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. Analysts expect that Target will post $4.24 EPS for the current fiscal year.

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About Target

Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “TGT”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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