Target Corporation (NYSE:TGT) Sees Significant Growth in Short Interest
Target Corporation (NYSE:TGT) was the target of a significant increase in short interest during the month of June. As of June 30th, there was short interest totalling 44,327,206 shares, an increase of 28.8% from the June 15th total of 34,427,515 shares. Based on an average daily volume of 11,211,796 shares, the short-interest ratio is currently 4.0 days. Approximately 8.0% of the shares of the company are sold short.
Target Corporation (NYSE:TGT) opened at 53.22 on Monday. The company has a market capitalization of $29.36 billion, a price-to-earnings ratio of 10.91 and a beta of 0.60. Target Corporation has a 12 month low of $48.56 and a 12 month high of $79.33. The stock’s 50 day moving average price is $54.35 and its 200 day moving average price is $60.17.
Target Corporation (NYSE:TGT) last announced its quarterly earnings data on Wednesday, May 17th. The retailer reported $1.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.30. Target Corporation had a return on equity of 25.17% and a net margin of 4.02%. The business had revenue of $16.02 billion for the quarter, compared to the consensus estimate of $15.63 billion. During the same period in the previous year, the business earned $1.29 earnings per share. The business’s revenue was down 1.1% on a year-over-year basis. Equities research analysts anticipate that Target Corporation will post $4.34 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Wednesday, August 16th will be given a $0.62 dividend. This is an increase from Target Corporation’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date of this dividend is Monday, August 14th. Target Corporation’s payout ratio is currently 48.98%.
In other Target Corporation news, insider Robert M. Harrison sold 2,639 shares of the business’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total value of $137,359.95. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the company. Cribstone Capital Management LLC increased its stake in Target Corporation by 114.2% in the first quarter. Cribstone Capital Management LLC now owns 1,906 shares of the retailer’s stock worth $101,000 after buying an additional 1,016 shares in the last quarter. Reilly Financial Advisors LLC increased its stake in Target Corporation by 77.6% in the first quarter. Reilly Financial Advisors LLC now owns 2,000 shares of the retailer’s stock worth $110,000 after buying an additional 874 shares in the last quarter. Pinnacle Bank purchased a new stake in Target Corporation during the first quarter worth approximately $123,000. Peoples Financial Services CORP. increased its stake in Target Corporation by 116.7% in the first quarter. Peoples Financial Services CORP. now owns 2,275 shares of the retailer’s stock worth $125,000 after buying an additional 1,225 shares in the last quarter. Finally, Penserra Capital Management LLC increased its stake in Target Corporation by 9.5% in the first quarter. Penserra Capital Management LLC now owns 2,346 shares of the retailer’s stock worth $129,000 after buying an additional 204 shares in the last quarter. Institutional investors own 83.01% of the company’s stock.
Several research analysts have weighed in on the company. Vetr cut Target Corporation from a “buy” rating to a “hold” rating and set a $59.51 price objective on the stock. in a research report on Tuesday, May 9th. ValuEngine cut Target Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Robert W. Baird reissued a “neutral” rating and issued a $55.00 price objective on shares of Target Corporation in a research report on Friday. TheStreet cut Target Corporation from a “b-” rating to a “c+” rating in a research report on Monday, March 27th. Finally, Cowen and Company reaffirmed a “market perform” rating and set a $64.00 price target on shares of Target Corporation in a research report on Friday. Seven investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $62.93.
Target Corporation Company Profile
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.
Receive News & Ratings for Target Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target Corporation and related companies with MarketBeat.com's FREE daily email newsletter.