Target Co. (NYSE:TGT) – Equities research analysts at Jefferies Group boosted their FY2018 EPS estimates for Target in a note issued to investors on Tuesday. Jefferies Group analyst D. Binder now expects that the retailer will post earnings of $4.74 per share for the year, up from their prior estimate of $4.60. Jefferies Group also issued estimates for Target’s Q4 2018 earnings at $1.40 EPS, Q1 2019 earnings at $1.32 EPS, Q3 2019 earnings at $1.01 EPS, Q4 2019 earnings at $1.53 EPS, FY2019 earnings at $5.17 EPS, FY2020 earnings at $5.25 EPS, FY2021 earnings at $5.48 EPS and FY2022 earnings at $5.79 EPS.
Several other research analysts have also recently commented on TGT. Deutsche Bank raised Target from a “neutral” rating to a “positive” rating and raised their target price for the stock from $57.00 to $70.00 in a research report on Wednesday. Vetr cut Target from a “hold” rating to a “sell” rating and set a $70.45 target price for the company. in a research report on Thursday. Stifel Nicolaus reaffirmed a “hold” rating and issued a $75.00 target price on shares of Target in a research report on Thursday. MKM Partners set a $93.00 target price on Target and gave the stock a “buy” rating in a research report on Friday. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $75.00 target price (up from $65.00) on shares of Target in a research report on Wednesday. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $66.15.
Target (NYSE:TGT) last issued its earnings results on Wednesday, November 15th. The retailer reported $0.91 EPS for the quarter, topping the consensus estimate of $0.86 by $0.05. The firm had revenue of $16.67 billion during the quarter, compared to analysts’ expectations of $16.61 billion. Target had a return on equity of 24.09% and a net margin of 3.80%. Target’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the business earned $1.04 earnings per share.
Several institutional investors have recently added to or reduced their stakes in the stock. Heritage Trust Co increased its position in Target by 129.7% in 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. SevenBridge Financial Group LLC increased its position in Target by 2,200.0% in 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. Parallel Advisors LLC increased its position in Target by 23.8% in the second quarter. Parallel Advisors LLC now owns 2,072 shares of the retailer’s stock worth $117,000 after purchasing an additional 399 shares during the period. Jacobi Capital Management LLC increased its position in Target by 109.8% in the third quarter. Jacobi Capital Management LLC now owns 2,503 shares of the retailer’s stock worth $141,000 after purchasing an additional 1,310 shares during the period. Finally, Sandy Spring Bank increased its position in Target by 6.7% in the second quarter. Sandy Spring Bank now owns 2,959 shares of the retailer’s stock worth $155,000 after purchasing an additional 185 shares during the period. 87.42% of the stock is owned by institutional investors and hedge funds.
In related news, Director Roxanne S. Austin sold 4,705 shares of Target stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $62.61, for a total value of $294,580.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.25% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Shareholders of record on Wednesday, February 21st will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.23%. Target’s payout ratio is presently 52.10%.
Target 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.
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