Target Co. (NYSE:TGT – Get Rating) – Equities researchers at KeyCorp dropped their Q2 2024 earnings per share (EPS) estimates for shares of Target in a research report issued to clients and investors on Wednesday, May 17th. KeyCorp analyst B. Thomas now forecasts that the retailer will post earnings of $1.55 per share for the quarter, down from their previous forecast of $2.22. The consensus estimate for Target’s current full-year earnings is $8.26 per share.
Target (NYSE:TGT – Get Rating) last announced its quarterly earnings data on Wednesday, May 17th. The retailer reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.29. The firm had revenue of $24.95 billion during the quarter, compared to analysts’ expectations of $25.28 billion. Target had a return on equity of 24.49% and a net margin of 2.49%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.19 EPS.
Target Price Performance
Target stock opened at $152.28 on Monday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.22 and a current ratio of 0.88. Target has a 52 week low of $137.16 and a 52 week high of $183.89. The stock has a market capitalization of $70.28 billion, a P/E ratio of 25.94, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02. The stock has a fifty day moving average of $160.08 and a 200-day moving average of $160.92.
Target Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Saturday, June 10th. Shareholders of record on Wednesday, May 17th will be issued a $1.08 dividend. The ex-dividend date is Tuesday, May 16th. This represents a $4.32 annualized dividend and a yield of 2.84%. Target’s payout ratio is currently 73.59%.
Insiders Place Their Bets
In other Target news, insider Brian C. Cornell sold 35,000 shares of the stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $158.98, for a total value of $5,564,300.00. Following the transaction, the insider now owns 191,272 shares in the company, valued at $30,408,422.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.29% of the company’s stock.
Institutional Trading of Target
Institutional investors and hedge funds have recently modified their holdings of the stock. Global Wealth Strategies & Associates purchased a new stake in shares of Target in the fourth quarter worth approximately $27,000. Bell Investment Advisors Inc lifted its holdings in Target by 122.1% during the third quarter. Bell Investment Advisors Inc now owns 191 shares of the retailer’s stock worth $28,000 after acquiring an additional 105 shares during the period. Financial Connections Group Inc. bought a new stake in Target during the fourth quarter worth $28,000. MADDEN SECURITIES Corp bought a new stake in Target during the fourth quarter worth $30,000. Finally, Glassy Mountain Advisors Inc. bought a new stake in shares of Target in the fourth quarter valued at $32,000. 78.86% of the stock is owned by hedge funds and other institutional investors.
Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.
- Get a free copy of the StockNews.com research report on Target (TGT)
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