Investors Buy High Volume of Put Options on Target Corp. (TGT)
Shares of Target Corp. (NYSE:TGT) was the target of unusually large options trading activity on Wednesday. Stock traders bought 14,094 put options on the company, American Banking and Market News reports. This is an increase of approximately 610% compared to the typical volume of 1,984 put options.
In other Target Corp. news, Insider Kathryn Tesija unloaded 206,793 shares of the stock on the open market in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $63.75, for a total value of $13,183,053.75. Following the completion of the transaction, the insider now directly owns 242,271 shares in the company, valued at approximately $15,444,776. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on TGT shares. Analysts at Zacks upgraded shares of Target Corp. (NYSE:TGT) from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, September 11th. They now have a $68.00 price target on the stock. Separately, analysts at Goldman Sachs Group Inc. initiated coverage on shares of Target Corp. (NYSE:TGT) in a research note to investors on Monday, September 9th. They set a “neutral” rating on the stock. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Target Corp. (NYSE:TGT) in a research note to investors on Thursday, September 5th. They now have a $72.00 price target on the stock, down previously from $75.00.
Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Target Corp. currently has a consensus rating of “Hold” and an average target price of $71.90.
Shares of Target Corp. (NYSE:TGT) traded down 1.05% during mid-day trading on Wednesday, hitting $63.24. 6,336,676 shares of the company’s stock traded hands. Target Corp. has a 52-week low of $58.01 and a 52-week high of $73.50. The stock’s 50-day moving average is $65.91 and its 200-day moving average is $68.82. The company has a market cap of $39.912 billion and a P/E ratio of 15.40.
Target Corp. (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.23. The company had revenue of $17.12 billion for the quarter, compared to the consensus estimate of $17.26 billion. During the same quarter in the previous year, the company posted $1.06 earnings per share. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. Analysts expect that Target Corp. will post $3.97 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend is Monday, November 18th.
Target Corporation (NYSE:TGT) operates in three segments: U.
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