Target Corporation (NYSE:TGT) to Issue Quarterly Dividend of $1.14

Key Points

• Target Corporation has raised its quarterly dividend to $1.14 per share, marking a 1.8% increase from the previous dividend of $1.12.
• Target has a payout ratio of 54.8%, indicating that the dividend is well-covered by earnings, with expected future earnings supporting the company's annual dividend of $4.48.
• The company's stock opened at $89.67, reflecting an increase of 1.3% on the announcement day, and it has a market capitalization of $40.75 billion.

Target Corporation (NYSE:TGT - Get Free Report) declared a quarterly dividend on Wednesday, September 17th, RTT News reports. Investors of record on Wednesday, November 12th will be paid a dividend of 1.14 per share by the retailer on Monday, December 1st. This represents a c) annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Wednesday, November 12th. This is a 1.8% increase from Target's previous quarterly dividend of $1.12.

Target has a dividend payout ratio of 54.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Target to earn $9.32 per share next year, which means the company should continue to be able to cover its $4.48 annual dividend with an expected future payout ratio of 48.1%.

Target Stock Performance

Shares of TGT stock traded down $1.30 during trading hours on Friday, reaching $88.12. The company had a trading volume of 13,274,029 shares, compared to its average volume of 7,472,747. The business has a fifty day moving average price of $99.42 and a 200-day moving average price of $99.21. Target has a one year low of $87.35 and a one year high of $161.50. The firm has a market cap of $40.04 billion, a PE ratio of 10.27, a price-to-earnings-growth ratio of 2.58 and a beta of 1.16. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99.

Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, topping analysts' consensus estimates of $2.04 by $0.01. The business had revenue of $24.99 billion during the quarter, compared to analyst estimates of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. The company's revenue was down .9% on a year-over-year basis. During the same period in the prior year, the business posted $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Sell-side analysts predict that Target will post 8.69 earnings per share for the current fiscal year.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.