Traders Buy Shares of Target Corporation (TGT) on Weakness

Investors purchased shares of Target Corporation (NYSE:TGT) on weakness during trading on Monday. $95.51 million flowed into the stock on the tick-up and $44.86 million flowed out of the stock on the tick-down, for a money net flow of $50.65 million into the stock. Of all stocks tracked, Target Corporation had the 12th highest net in-flow for the day. Target Corporation traded down ($0.71) for the day and closed at $59.55

Several research analysts have commented on the stock. Zacks Investment Research lowered shares of Target Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Stifel Nicolaus set a $60.00 price objective on shares of Target Corporation and gave the stock a “hold” rating in a report on Wednesday, October 18th. MKM Partners assumed coverage on shares of Target Corporation in a report on Wednesday, October 18th. They issued a “buy” rating and a $85.00 price objective for the company. TheStreet upgraded shares of Target Corporation from a “c+” rating to a “b” rating in a report on Thursday, September 28th. Finally, BMO Capital Markets restated a “market weight” rating on shares of Target Corporation in a report on Thursday, September 14th. Five equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $63.75.

The company has a market cap of $32.25 billion, a PE ratio of 11.93 and a beta of 0.62. The stock’s 50 day moving average is $59.51 and its 200-day moving average is $56.16.

Target Corporation (NYSE:TGT) last announced its earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.03. The business had revenue of $16.43 billion during the quarter, compared to the consensus estimate of $16.30 billion. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.23 EPS. On average, equities analysts expect that Target Corporation will post $4.51 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Wednesday, November 15th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.20%. The ex-dividend date is Tuesday, November 14th. Target Corporation’s payout ratio is 50.00%.

In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $59.37, for a total transaction of $277,792.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp raised its stake in Target Corporation by 1.5% in the 2nd quarter. State Street Corp now owns 51,944,505 shares of the retailer’s stock valued at $2,716,176,000 after purchasing an additional 775,265 shares during the last quarter. BlackRock Inc. raised its stake in Target Corporation by 2,069.0% in the 1st quarter. BlackRock Inc. now owns 47,046,403 shares of the retailer’s stock valued at $2,596,495,000 after purchasing an additional 44,877,391 shares during the last quarter. Vanguard Group Inc. raised its stake in Target Corporation by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 37,154,396 shares of the retailer’s stock valued at $1,942,803,000 after purchasing an additional 130,252 shares during the last quarter. Franklin Resources Inc. raised its stake in Target Corporation by 8.7% in the 2nd quarter. Franklin Resources Inc. now owns 21,112,915 shares of the retailer’s stock valued at $1,103,994,000 after purchasing an additional 1,686,774 shares during the last quarter. Finally, Dodge & Cox raised its stake in Target Corporation by 83.3% in the 2nd quarter. Dodge & Cox now owns 20,025,223 shares of the retailer’s stock valued at $1,047,119,000 after purchasing an additional 9,102,526 shares during the last quarter. 83.43% of the stock is owned by hedge funds and other institutional investors.

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About Target Corporation

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.

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