Target (NYSE:TGT) Stock Price Up 1.3% Following Dividend Announcement

Target Co. (NYSE:TGT) rose 1.3% during trading on Thursday after the company announced a dividend. The stock traded as high as $156.89 and last traded at $155.64. Approximately 1,058,681 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 4,001,758 shares. The stock had previously closed at $153.60.

The newly announced dividend which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Wednesday, November 20th. Target’s payout ratio is 50.28%.

Analysts Set New Price Targets

TGT has been the subject of a number of research reports. Bank of America increased their target price on Target from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Roth Mkm increased their price objective on shares of Target from $153.00 to $157.00 and gave the company a “neutral” rating in a research report on Thursday, August 22nd. Jefferies Financial Group boosted their target price on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. TD Cowen increased their price target on shares of Target from $165.00 to $180.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Finally, Royal Bank of Canada boosted their price objective on Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $179.68.

Target Stock Down 1.1 %

The firm has a market capitalization of $71.59 billion, a PE ratio of 17.37, a PEG ratio of 1.90 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. The company has a fifty day simple moving average of $148.48 and a two-hundred day simple moving average of $155.08.

Target (NYSE:TGT) last issued its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.39. Target had a net margin of 4.18% and a return on equity of 33.10%. The company had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. During the same period in the prior year, the business earned $1.80 EPS. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. Analysts forecast that Target Co. will post 9.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the sale, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the transaction, the chief accounting officer now directly owns 7,276 shares in the company, valued at $1,114,173.88. The disclosure for this sale can be found here. 0.23% of the stock is owned by company insiders.

Institutional Investors Weigh In On Target

A number of large investors have recently modified their holdings of the business. Triad Wealth Partners LLC purchased a new stake in Target during the 2nd quarter worth approximately $25,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Target during the fourth quarter valued at $28,000. Slocum Gordon & Co LLP acquired a new position in shares of Target in the 2nd quarter valued at $28,000. Scarborough Advisors LLC purchased a new position in Target in the 4th quarter worth $29,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Target during the 2nd quarter worth about $31,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.