Target Co. (NYSE:TGT) Expected to Post Quarterly Sales of $21.47 Billion

Wall Street brokerages expect Target Co. (NYSE:TGT) to report sales of $21.47 billion for the current quarter, according to Zacks. Seven analysts have issued estimates for Target’s earnings, with the highest sales estimate coming in at $22.95 billion and the lowest estimate coming in at $20.72 billion. Target reported sales of $19.62 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.4%. The business is scheduled to report its next quarterly earnings results before the market opens on Wednesday, May 19th.

On average, analysts expect that Target will report full year sales of $92.13 billion for the current financial year, with estimates ranging from $89.70 billion to $95.16 billion. For the next fiscal year, analysts forecast that the company will post sales of $95.71 billion, with estimates ranging from $92.66 billion to $97.95 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Target.

Target (NYSE:TGT) last posted its earnings results on Monday, March 1st. The retailer reported $2.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.54 by $0.13. The business had revenue of $28 billion for the quarter, compared to analyst estimates of $27.42 billion. Target had a net margin of 4.31% and a return on equity of 34.94%. Target’s revenue was up 21.0% compared to the same quarter last year. During the same period last year, the business posted $1.69 EPS.

A number of analysts have issued reports on TGT shares. Jefferies Financial Group lowered their target price on Target from $205.00 to $188.00 and set a “hold” rating on the stock in a report on Tuesday, March 9th. Morgan Stanley increased their target price on shares of Target from $180.00 to $195.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 20th. JPMorgan Chase & Co. boosted their price target on Target from $210.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, April 26th. Deutsche Bank Aktiengesellschaft raised their price objective on Target from $194.00 to $211.00 and gave the stock a “buy” rating in a research report on Thursday, January 14th. Finally, Cowen raised their target price on Target from $190.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, January 14th. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $186.35.

In related news, insider Michael Edward Mcnamara sold 31,423 shares of the business’s stock in a transaction that occurred on Tuesday, April 13th. The shares were sold at an average price of $204.32, for a total value of $6,420,347.36. Following the completion of the transaction, the insider now owns 139,768 shares in the company, valued at approximately $28,557,397.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christina Hennington sold 1,852 shares of the company’s stock in a transaction on Friday, March 19th. The stock was sold at an average price of $183.00, for a total value of $338,916.00. Following the transaction, the insider now directly owns 25,249 shares in the company, valued at approximately $4,620,567. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,510 shares of company stock valued at $8,002,521. 0.52% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wealth Alliance bought a new position in shares of Target in the 3rd quarter valued at about $200,000. OLD Mission Capital LLC bought a new stake in shares of Target during the 3rd quarter valued at $200,000. Kingsview Wealth Management LLC boosted its position in shares of Target by 18.4% in the 3rd quarter. Kingsview Wealth Management LLC now owns 10,120 shares of the retailer’s stock worth $1,593,000 after purchasing an additional 1,575 shares during the last quarter. Jeppson Wealth Management LLC acquired a new stake in shares of Target during the third quarter worth $103,000. Finally, Paces Ferry Wealth Advisors LLC bought a new stake in Target in the third quarter valued at about $239,000. 79.17% of the stock is owned by institutional investors.

Shares of Target stock traded up $0.33 during trading on Thursday, reaching $211.61. The company’s stock had a trading volume of 2,093,152 shares, compared to its average volume of 3,676,783. Target has a one year low of $110.47 and a one year high of $212.82. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.39 and a current ratio of 1.05. The firm has a market cap of $105.29 billion, a price-to-earnings ratio of 27.86, a price-to-earnings-growth ratio of 2.64 and a beta of 0.97. The business’s fifty day moving average price is $199.83 and its 200-day moving average price is $182.75.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 10th. Stockholders of record on Wednesday, May 19th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Tuesday, May 18th. Target’s payout ratio is presently 42.57%.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

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Earnings History and Estimates for Target (NYSE:TGT)

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