Target Heads Into Holidays With Q3 Sales Gain

Target Heads Into Holidays With Q3 Sales Gain

Palisade Asset Management LLC's holdings in Target Corporation were worth $11,605,000 at the end of the most recent quarter. BlackRock Inc. now owns 47,046,403 shares of the retailer's stock worth $2,596,495,000 after buying an additional 44,877,391 shares during the last quarter. Gamble Jones Investment Counsel lifted its position in shares of Target Corporation by 0.4% during the 2nd quarter. The fund owned 210,105 shares of the retailer's stock after acquiring an additional 19,392 shares during the quarter. Over the past few months, we have undertaken extensive analysis on Target's reinvention process, visiting new and refurbished stores, analyzing sales patterns, surveying shoppers, and talking to staff.

A number of analysts have weighed in on the company. Wells Fargo & Company initiated coverage on shares of Target Corporation in a research note on Friday, November 3rd. The brokerage issued a market perform rating and a $62.00 target price on the retailer's stock. Vetr has "Strong-Buy" rating and $86.04 target. MKM Partners restated a "neutral" rating on shares of Target Corporation in a report on Tuesday, August 15th. They presently have a $77.00 price objective on the retailer's stock, down from their previous price objective of $85.00.

At the moment 26 analysts are watching Target Corporation (NASDAQ:TGT), 2 rate it "Buy", 2 "Outperform", 18 "Underperform", 3 "Sell", while 1 "Hold". The company now has a consensus rating of "Hold" and an average price target of $64.06.

As Target sticks closely to its "signature" categories in the home, apparel, baby and wellness space, much of its success has been found in its private label brands, including kids apparel line Cat & Jack, which raked in $2 billion in its first year on the market. The stock was sold at an average price of $75.45, for a total transaction of $298,555.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.20% of the company's stock.

Shares of Target Corporation (NYSE:TGT) traded down $0.31 on Wednesday, reaching $60.09. The stock had a trading volume of 16,123,828 shares, compared to its average volume of 7,170,398. The company has market cap of $32.99 billion. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.26.

Target Heads Into Holidays With Q3 Sales Gain

Target Corp. has a 52-week low of $65.06 and a 52-week high of $84.14.

Target Corporation (NYSE:TGT) last posted its earnings results on Wednesday, August 16th. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.27. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%.

Target on Wednesday reported that third quarter sales rose 1.4% to $16.7 billion from $16.4 billion a year ago, besting the Zacks consensus estimate of $16.6 billion. For full-year 2017, the company said it now expects EPS of $4.38 to $4.58 and adjusted EPS of $4.40 to $4.60, compared with prior guidance of $4.35 to $4.55 and $4.34 to $4.54 respectively. After having $1.23 EPS previously, Target Corporation's analysts see -30.89 % EPS growth.

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Wednesday, November 15th will be given a $0.62 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $2.48 annualized dividend and a yield of 4.13%. Target Corporation's dividend payout ratio (DPR) is now 50.10%.

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