Equities research analysts expect Target Co. (NYSE:TGT) to announce earnings of $2.47 per share for the current quarter, according to Zacks. Seven analysts have made estimates for Target’s earnings. The lowest EPS estimate is $1.85 and the highest is $2.75. Target posted earnings per share of $1.69 during the same quarter last year, which would suggest a positive year-over-year growth rate of 46.2%. The company is scheduled to announce its next earnings report before the market opens on Tuesday, March 2nd.
On average, analysts expect that Target will report full-year earnings of $9.20 per share for the current financial year, with EPS estimates ranging from $8.28 to $9.50. For the next financial year, analysts anticipate that the firm will report earnings of $8.70 per share, with EPS estimates ranging from $7.50 to $9.36. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Target.
Several research firms have weighed in on TGT. Cowen boosted their price objective on Target from $190.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, January 14th. Telsey Advisory Group boosted their target price on Target from $190.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 14th. Deutsche Bank Aktiengesellschaft boosted their target price on Target from $194.00 to $211.00 and gave the company a “buy” rating in a research note on Thursday, January 14th. Raymond James boosted their target price on Target from $180.00 to $200.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 19th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $200.00 target price on shares of Target in a research note on Tuesday, February 16th. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $165.29.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 10th. Stockholders of record on Wednesday, February 17th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Tuesday, February 16th. Target’s payout ratio is currently 42.57%.
In other news, insider Stephanie A. Lundquist sold 16,894 shares of the company’s stock in a transaction dated Thursday, January 14th. The stock was sold at an average price of $198.34, for a total value of $3,350,755.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.52% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of TGT. BlackRock Inc. boosted its holdings in shares of Target by 7.1% in the 4th quarter. BlackRock Inc. now owns 37,134,621 shares of the retailer’s stock worth $6,555,375,000 after purchasing an additional 2,462,178 shares in the last quarter. D1 Capital Partners L.P. boosted its holdings in Target by 55.8% during the 4th quarter. D1 Capital Partners L.P. now owns 3,595,477 shares of the retailer’s stock valued at $634,710,000 after acquiring an additional 1,288,000 shares during the period. FMR LLC boosted its holdings in Target by 23.6% during the 4th quarter. FMR LLC now owns 5,493,847 shares of the retailer’s stock valued at $969,830,000 after acquiring an additional 1,049,440 shares during the period. Candlestick Capital Management LP boosted its holdings in Target by 154.7% during the 3rd quarter. Candlestick Capital Management LP now owns 328,437 shares of the retailer’s stock valued at $51,703,000 after acquiring an additional 928,437 shares during the period. Finally, Brandywine Global Investment Management LLC purchased a new stake in Target during the 4th quarter valued at about $83,833,000. Hedge funds and other institutional investors own 79.17% of the company’s stock.
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 dÃ©cor products, electronics, toys, seasonal offerings, and other merchandise; beauty and household essentials; The company also provides in-store amenities, such as Target CafÃ©, Target Optical, Starbucks, and other food service offerings.
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