Published: Fri, March 09, 2018
Money | By Wilma Wheeler

Target Corporation (NASDAQ:TGT) To Release Earnings

Target Corporation (NASDAQ:TGT) To Release Earnings

Capital Investment Advisory Services LLC grew its position in Target by 9.9% in the fourth quarter. Principal Financial Group Inc. boosted its position in shares of Target by 15.5% in the 3rd quarter. Security Asset Management purchased a new stake in shares of Target in the fourth quarter worth $115,000. First Mercantile Trust Co. purchased a new stake in shares of Target in the fourth quarter worth about $124,000. Also, insider Stephanie A. Lundquist sold 3,000 shares of Target stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $76.74, for a total value of $656,664.18.

The company's stock is now moving with a +ve distance from the 200 day SMA of approximately 17.82%, and has a solid year to date (YTD) performance of 10.02% which means that the stock is constantly adding to its value from the previous fiscal year end price. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

In other Target news, insider Robert M. Harrison sold 8,557 shares of the stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $62.61, for a total value of $294,580.05. The disclosure for this sale can be found here. American Century Companies Inc. now owns 5,238,106 shares of the retailer's stock worth $309,101,000 after purchasing an additional 1,629,222 shares in the last quarter. The stock volatility for week was 2.96% while for month was 3.24%.Beta factor, which measures the riskiness of the security, was observed as 0.67.

Shares of Target Corp., which had fallen close to 5 percent before the opening bell, were down more than 3 percent in late morning trading, to $72.84. (NYSE TGT) opened at $71.79 on Wednesday.

The company now has an insider ownership of 0.12 Percent and Institutional ownership of 89.6 Percent.

Target Co. has a twelve month low of $48.56 and a twelve month high of $78.70.

For the second year running, Target Corp (NYSE:TGT) missed expectations with its fourth-quarter earnings, sending the stock down more than 4% in pre-market trading.

On a GAAP basis, TGT reported net income of $ 1.10 billion or $ 2.02 per share, compared with income of $ 0.82 billion or $ 1.45 per share, a year ago period.

Add to that Target's pledge to raise its internal minimum wage to $15 by 2020 (it'll be $12 this spring), and the ramping up f store remodels this year to 300 locations, and you have enormous pressure on Target's margins, a big reason the company's shares fell about 6% during the executives presentations. During the same period in the previous year, the firm posted $1.45 earnings per share. equities analysts anticipate that Target will post 4.72 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 10th. Shareholders of record on Wednesday, February 21st will be issued a $0.62 dividend. The ex-dividend date is Tuesday, February 20th. Target's payout ratio is presently 51.88%.

A number of other hedge funds have also recently made changes to their positions in TGT. Finally, Morgan Stanley dropped their price objective on shares of Target from $52.00 to $50.00 and set an "underweight" rating for the company in a research note on Thursday, November 16th. The stock of Target Corporation (NYSE:TGT) has "Hold" rating given on Friday, January 20 by Stifel Nicolaus. Barclays set a $45.00 price objective on Target and gave the stock a sell rating in a research report on Wednesday, November 15th. Rating Scale; where 1.0 rating mean Strong Buy, 2.0 rating signifies Buy, 3.0 recommendation reveals Hold, 4.0 rating score shows Sell and 5.0 displays Strong Sell signal. Target now has a consensus rating of "Hold" and an average price target of $72.93.

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