Investors Buy High Volume of Put Options on Target Corporation (TGT)
Target Corporation (NYSE:TGT) was the target of unusually large options trading activity on Monday. Investors purchased 10,752 put options on the company. This represents an increase of 126% compared to the typical daily volume of 4,756 put options.
A number of brokerages have recently issued reports on TGT. UBS AG restated a “neutral” rating and set a $56.00 target price (down from $60.00) on shares of Target Corporation in a research report on Tuesday, June 20th. BidaskClub lowered shares of Target Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. TheStreet upgraded shares of Target Corporation from a “c+” rating to a “b” rating in a research report on Thursday, September 28th. Vetr lowered shares of Target Corporation from a “buy” rating to a “hold” rating and set a $59.67 target price on the stock. in a research report on Monday, August 7th. Finally, Stifel Nicolaus restated a “hold” rating and set a $60.00 target price (up from $58.00) on shares of Target Corporation in a research report on Friday, August 18th. Five research analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $61.62.
In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $59.37, for a total transaction of $277,792.23. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Boston Private Wealth LLC boosted its stake in Target Corporation by 4.5% during the second quarter. Boston Private Wealth LLC now owns 53,455 shares of the retailer’s stock valued at $2,795,000 after buying an additional 2,285 shares in the last quarter. Conning Inc. boosted its stake in Target Corporation by 2.1% during the second quarter. Conning Inc. now owns 522,523 shares of the retailer’s stock valued at $27,323,000 after buying an additional 10,966 shares in the last quarter. First Trust Advisors LP boosted its stake in Target Corporation by 33.8% during the first quarter. First Trust Advisors LP now owns 804,427 shares of the retailer’s stock valued at $44,396,000 after buying an additional 203,248 shares in the last quarter. Boston Partners bought a new position in Target Corporation during the first quarter valued at about $392,000. Finally, Patten & Patten Inc. TN bought a new position in Target Corporation during the second quarter valued at about $234,000. 83.22% of the stock is owned by institutional investors and hedge funds.
Target Corporation (NYSE TGT) opened at 58.66 on Thursday. The stock’s 50 day moving average price is $57.46 and its 200 day moving average price is $55.30. The firm has a market cap of $32.04 billion, a P/E ratio of 11.85 and a beta of 0.62. Target Corporation has a 1-year low of $48.56 and a 1-year high of $79.33.
Target Corporation (NYSE:TGT) last announced its earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.03. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%. The business had revenue of $16.43 billion during the quarter, compared to analysts’ expectations of $16.30 billion. During the same quarter last year, the business posted $1.23 earnings per share. The company’s quarterly revenue was up 1.6% on a year-over-year basis. Equities research analysts predict that Target Corporation will post $4.51 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Wednesday, November 15th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $2.48 annualized dividend and a yield of 4.23%. Target Corporation’s dividend payout ratio is currently 50.00%.
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Target Corporation Company Profile
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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