Target Co. (NYSE:TGT) Short Interest Up 25.3% in March

Target Co. (NYSE:TGT) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 14,430,000 shares, an increase of 25.3% from the February 28th total of 11,520,000 shares. Based on an average trading volume of 6,410,000 shares, the short-interest ratio is currently 2.3 days. Currently, 3.2% of the shares of the company are sold short.

Target Price Performance

Shares of TGT traded up $0.01 during trading hours on Tuesday, hitting $104.37. 6,236,425 shares of the stock were exchanged, compared to its average volume of 5,208,813. The stock’s 50-day moving average price is $122.37 and its two-hundred day moving average price is $136.08. Target has a 12-month low of $100.50 and a 12-month high of $181.86. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The company has a market cap of $47.55 billion, a price-to-earnings ratio of 11.07, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18.

Target (NYSE:TGT) last released its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. The business had revenue of $30.92 billion during the quarter, compared to analyst estimates of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Research analysts expect that Target will post 8.69 earnings per share for the current year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s dividend payout ratio is currently 50.56%.

Institutional Investors Weigh In On Target

Large investors have recently made changes to their positions in the stock. Legacy Investment Solutions LLC purchased a new stake in Target in the 3rd quarter valued at $28,000. Hopwood Financial Services Inc. acquired a new position in shares of Target during the 4th quarter valued at about $29,000. Bernard Wealth Management Corp. purchased a new stake in shares of Target in the fourth quarter valued at about $29,000. MCF Advisors LLC increased its position in Target by 175.3% during the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after purchasing an additional 163 shares during the last quarter. Finally, Raleigh Capital Management Inc. raised its stake in Target by 110.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after purchasing an additional 135 shares during the period. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TGT has been the topic of several research analyst reports. Citigroup dropped their price target on Target from $133.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. Jefferies Financial Group dropped their target price on Target from $165.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. DA Davidson decreased their price objective on shares of Target from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. UBS Group cut their price objective on shares of Target from $170.00 to $155.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Finally, Gordon Haskett downgraded shares of Target from a “buy” rating to a “hold” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $142.90.

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.