Wall Street analysts forecast that Target Co. (NYSE:TGT) will report sales of $16.45 billion for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Target’s earnings, with estimates ranging from $16.26 billion to $16.67 billion. Target reported sales of $16.02 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 2.7%. The company is scheduled to report its next earnings report on Wednesday, May 16th.
According to Zacks, analysts expect that Target will report full-year sales of $16.45 billion for the current year, with estimates ranging from $70.92 billion to $72.70 billion. For the next year, analysts expect that the company will post sales of $73.26 billion per share, with estimates ranging from $72.08 billion to $74.49 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Target.
Target (NYSE:TGT) last posted its earnings results on Tuesday, March 6th. The retailer reported $1.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.39 by ($0.02). The company had revenue of $22.77 billion for the quarter, compared to the consensus estimate of $22.56 billion. Target had a return on equity of 23.04% and a net margin of 4.08%. Target’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.45 EPS.
In other news, insider Stephanie A. Lundquist sold 3,000 shares of the business’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $78.08, for a total transaction of $234,240.00. Following the completion of the sale, the insider now owns 16,906 shares in the company, valued at $1,320,020.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert M. Harrison sold 8,557 shares of the business’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $76.74, for a total value of $656,664.18. Following the sale, the insider now owns 13,288 shares of the company’s stock, valued at approximately $1,019,721.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,262 shares of company stock valued at $1,185,484. 0.20% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in TGT. Heritage Trust Co grew its stake in shares of Target by 129.7% during the third quarter. Heritage Trust Co now owns 1,771 shares of the retailer’s stock worth $105,000 after purchasing an additional 1,000 shares during the period. Westside Investment Management Inc. grew its stake in shares of Target by 128.6% during the fourth quarter. Westside Investment Management Inc. now owns 1,600 shares of the retailer’s stock worth $107,000 after purchasing an additional 900 shares during the period. SevenBridge Financial Group LLC grew its stake in shares of Target by 2,200.0% during the third quarter. SevenBridge Financial Group LLC now owns 1,909 shares of the retailer’s stock worth $113,000 after purchasing an additional 1,826 shares during the period. Security Asset Management acquired a new stake in shares of Target during the fourth quarter worth $115,000. Finally, First Mercantile Trust Co. acquired a new stake in shares of Target during the fourth quarter worth $124,000. 87.02% of the stock is owned by institutional investors and hedge funds.
Target (NYSE TGT) opened at $70.67 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.30 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $38,410.00, a P/E ratio of 15.10, a P/E/G ratio of 3.14 and a beta of 0.71. Target has a 52-week low of $48.56 and a 52-week high of $78.70.
The company also recently announced a quarterly dividend, which was paid on Saturday, March 10th. Stockholders of record on Wednesday, February 21st were given a dividend of $0.62 per share. The ex-dividend date was Tuesday, February 20th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.51%. Target’s payout ratio is currently 52.99%.
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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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