Target Co. (NYSE:TGT – Get Rating) – Research analysts at Telsey Advisory Group lowered their Q2 2023 EPS estimates for shares of Target in a report released on Thursday, May 19th. Telsey Advisory Group analyst J. Feldman now anticipates that the retailer will post earnings of $2.38 per share for the quarter, down from their previous forecast of $4.03. Telsey Advisory Group currently has a “Outperform” rating and a $200.00 target price on the stock. Telsey Advisory Group also issued estimates for Target’s Q3 2023 earnings at $3.30 EPS, Q4 2023 earnings at $3.62 EPS, FY2023 earnings at $11.46 EPS, Q1 2024 earnings at $3.43 EPS, Q2 2024 earnings at $3.87 EPS, Q3 2024 earnings at $3.83 EPS and FY2024 earnings at $15.24 EPS.
Target (NYSE:TGT – Get Rating) last issued its quarterly earnings results on Wednesday, May 18th. The retailer reported $2.19 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.88). Target had a net margin of 5.48% and a return on equity of 44.75%. The firm had revenue of $24.83 billion for the quarter, compared to analysts’ expectations of $24.48 billion. During the same period in the prior year, the company earned $3.69 EPS. The firm’s quarterly revenue was up 4.0% on a year-over-year basis.
Shares of NYSE TGT opened at $155.36 on Monday. Target has a one year low of $150.89 and a one year high of $268.98. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.87 and a quick ratio of 0.35. The business’s fifty day moving average price is $222.35 and its 200-day moving average price is $225.51. The stock has a market capitalization of $72.04 billion, a PE ratio of 12.88, a P/E/G ratio of 0.65 and a beta of 0.94.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Stockholders of record on Wednesday, May 18th will be given a $0.90 dividend. The ex-dividend date is Tuesday, May 17th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.32%. Target’s dividend payout ratio is currently 29.85%.
In other news, insider Cara A. Sylvester sold 2,030 shares of the firm’s stock in a transaction that occurred on Wednesday, April 20th. The stock was sold at an average price of $250.00, for a total value of $507,500.00. Following the completion of the transaction, the insider now owns 7,891 shares in the company, valued at approximately $1,972,750. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brian C. Cornell sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $216.35, for a total value of $6,490,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 99,363 shares of company stock worth $21,970,253. Corporate insiders own 0.29% of the company’s stock.
Large investors have recently made changes to their positions in the business. FDx Advisors Inc. increased its holdings in shares of Target by 12.9% in the 4th quarter. FDx Advisors Inc. now owns 22,374 shares of the retailer’s stock worth $5,178,000 after purchasing an additional 2,549 shares in the last quarter. Dana Investment Advisors Inc. increased its holdings in shares of Target by 46.7% in the 3rd quarter. Dana Investment Advisors Inc. now owns 128,564 shares of the retailer’s stock worth $29,412,000 after purchasing an additional 40,953 shares in the last quarter. Wealthspire Advisors LLC increased its holdings in shares of Target by 59.9% in the 3rd quarter. Wealthspire Advisors LLC now owns 13,562 shares of the retailer’s stock worth $3,103,000 after purchasing an additional 5,078 shares in the last quarter. London Co. of Virginia increased its holdings in shares of Target by 2.6% in the 3rd quarter. London Co. of Virginia now owns 1,694,201 shares of the retailer’s stock worth $387,582,000 after purchasing an additional 42,365 shares in the last quarter. Finally, Strategy Asset Managers LLC increased its holdings in shares of Target by 10.5% in the 3rd quarter. Strategy Asset Managers LLC now owns 34,259 shares of the retailer’s stock worth $7,838,000 after purchasing an additional 3,244 shares in the last quarter. Institutional investors and hedge funds own 81.83% of the company’s stock.
Target Company Profile (Get Rating)
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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