Traders Buy Large Volume of Target Corporation Call Options (TGT)
Target Corporation (NYSE:TGT) saw unusually large options trading activity on Tuesday. Stock investors purchased 43,644 call options on the stock. This is an increase of approximately 350% compared to the average daily volume of 9,688 call options.
In other news, insider Robert M. Harrison sold 2,639 shares of the stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $52.05, for a total transaction of $137,359.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of TGT. OLD National Bancorp IN raised its position in Target Corporation by 13.8% in the first quarter. OLD National Bancorp IN now owns 62,330 shares of the retailer’s stock valued at $3,440,000 after buying an additional 7,547 shares during the last quarter. ING Groep NV raised its position in Target Corporation by 114.3% in the first quarter. ING Groep NV now owns 7,632 shares of the retailer’s stock valued at $421,000 after buying an additional 4,071 shares during the last quarter. Honeywell International Inc. raised its position in Target Corporation by 44.8% in the first quarter. Honeywell International Inc. now owns 665,100 shares of the retailer’s stock valued at $36,707,000 after buying an additional 205,700 shares during the last quarter. Cascade Investment Advisors Inc. raised its position in Target Corporation by 23.7% in the first quarter. Cascade Investment Advisors Inc. now owns 24,445 shares of the retailer’s stock valued at $1,349,000 after buying an additional 4,685 shares during the last quarter. Finally, Prospera Financial Services Inc raised its position in Target Corporation by 29.6% in the first quarter. Prospera Financial Services Inc now owns 8,064 shares of the retailer’s stock valued at $442,000 after buying an additional 1,844 shares during the last quarter. Institutional investors own 82.63% of the company’s stock.
Shares of Target Corporation (NYSE:TGT) opened at 55.64 on Friday. The firm has a market cap of $30.70 billion, a PE ratio of 11.40 and a beta of 0.61. Target Corporation has a 1-year low of $48.56 and a 1-year high of $79.33. The stock’s 50 day moving average is $53.97 and its 200-day moving average is $56.53.
Target Corporation (NYSE:TGT) last posted its quarterly earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.30. The company had revenue of $16.02 billion during the quarter, compared to analyst estimates of $15.63 billion. Target Corporation had a net margin of 4.02% and a return on equity of 25.17%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.29 earnings per share. Analysts expect that Target Corporation will post $4.39 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Wednesday, August 16th will be given a dividend of $0.62 per share. The ex-dividend date is Monday, August 14th. This represents a $2.48 annualized dividend and a yield of 4.46%. This is a positive change from Target Corporation’s previous quarterly dividend of $0.60. Target Corporation’s dividend payout ratio is presently 48.98%.
TGT has been the subject of several research reports. ValuEngine downgraded shares of Target Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Jefferies Group LLC reissued a “hold” rating and set a $59.00 price objective (up previously from $56.00) on shares of Target Corporation in a research report on Friday, May 19th. Vetr raised shares of Target Corporation from a “hold” rating to a “buy” rating and set a $61.86 price objective for the company in a research report on Wednesday, May 10th. Zacks Investment Research raised shares of Target Corporation from a “sell” rating to a “hold” rating in a research report on Monday, May 15th. Finally, BidaskClub raised shares of Target Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Six analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $61.99.
About Target Corporation
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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