Target (NYSE:TGT) Trading 1.4% Higher - Here's Why

Target Corporation (NYSE:TGT - Get Free Report)'s share price traded up 1.4% during mid-day trading on Tuesday . The stock traded as high as $97.75 and last traded at $97.92. 991,853 shares traded hands during trading, a decline of 84% from the average session volume of 6,170,999 shares. The stock had previously closed at $96.53.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Roth Mkm reaffirmed a "neutral" rating and set a $122.00 price target (down previously from $131.00) on shares of Target in a research note on Wednesday, March 5th. Oppenheimer decreased their price objective on shares of Target from $165.00 to $150.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. BMO Capital Markets decreased their price objective on shares of Target from $100.00 to $95.00 and set a "market perform" rating for the company in a report on Thursday, May 22nd. Wall Street Zen lowered shares of Target from a "buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Finally, The Goldman Sachs Group decreased their price objective on shares of Target from $101.00 to $90.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $116.70.

Target Trading Up 0.9%

The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.25 and a current ratio of 0.94. The business's 50 day moving average price is $95.72 and its two-hundred day moving average price is $113.55. The company has a market capitalization of $44.27 billion, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 2.75 and a beta of 1.22.

Target (NYSE:TGT - Get Free Report) last released its earnings results on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing analysts' consensus estimates of $1.65 by ($0.35). Target had a return on equity of 25.59% and a net margin of 3.95%. The business had revenue of $24.20 billion during the quarter, compared to the consensus estimate of $24.54 billion. During the same quarter in the previous year, the firm earned $2.03 earnings per share. The firm's revenue for the quarter was down 2.8% compared to the same quarter last year. Equities analysts forecast that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be given a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 annualized dividend and a dividend yield of 4.60%. Target's dividend payout ratio (DPR) is presently 50.11%.

Insider Activity at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the firm's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the transaction, the insider now owns 246,453 shares in the company, valued at approximately $23,703,849.54. This trade represents a 15.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bernard Wealth Management Corp. bought a new position in Target in the 4th quarter worth $30,000. Hopwood Financial Services Inc. bought a new position in Target in the 4th quarter worth $29,000. Legacy Investment Solutions LLC raised its holdings in Target by 47.5% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock worth $35,000 after acquiring an additional 85 shares during the period. OFI Invest Asset Management bought a new position in Target in the 4th quarter worth $36,000. Finally, Heck Capital Advisors LLC bought a new position in Target in the 4th quarter worth $40,000. Institutional investors own 79.73% of the company's stock.

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.

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