Target Corporation Stock Hit By Ho-Hum Holiday Outlook

Isaac Cain
November 16, 2017

Target Corporation says that it will be providing a post-holiday financial update on January 9, 2018.

As Target sticks closely to its "signature" categories in the home, apparel, baby and wellness space, much of its success has been found in its private label brands, including kids apparel line Cat & Jack, which raked in $2 billion in its first year on the market. Wedbush maintained the shares of NCR in report on Thursday, February 4 with "Neutral" rating. Parallel Advisors LLC raised its holdings in Target Corporation by 23.8% during the 2nd quarter. The Clearbridge Investments Llc holds 27,198 shares with $1.42M value, down from 244,414 last quarter. Vanguard Group Inc is the second biggest holder with 37 million shares now valued at 1.94 B million whilst Franklin Advisers Inc has 21 million shares valued at 1.10 B million.

Other hedge funds also recently bought and sold shares of the company.

Several brokerages have weighed in on TGT.

A number of brokerages have issued reports on TGT. Vetr lowered shares of Target Corporation from a "buy" rating to a "hold" rating and set a $57.89 price objective on the a research note on Thursday, August 17th.

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WARNING: "Target Corporation (TGT) Updates Q4 Earnings Guidance" was published by StockNewsTimes and is owned by of StockNewsTimes. The stock was sold at an average price of $75.45, for a total transaction of $298,555.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Institutional investors own 86.63% of the company's stock.

In related news, insider Hourigan Rice Jacqueline sold 4,679 shares of Target Corporation stock in a transaction on Friday, September 15th. The stock had a trading volume of 8,014,200 shares, compared to its average volume of 7,170,398. Target Corporation has a twelve month low of $48.56 and a twelve month high of $79.33. The firm has a market cap of $29,970.00, a price-to-earnings ratio of 12.25, a PEG ratio of 2.84 and a beta of 0.63.

Now insiders hold 2,360,453 shares in the business which makes up 0.43% of shares.

A cautious outlook on the crucial holiday season overshadowed progress Target made in bringing more customers to its stores, pulling its shares down sharply.

Target Corp. had a return on equity of 25.18% and a net margin of 4.75%. Flat would be a huge disappointment and even a 2% gain seems less impressive considering same store sales declined 1.5% during the fourth quarter of 2016. During the same quarter in the previous year, the company posted $1.04 earnings per share.

Third quarter sales increased 1.4% to $16.7 billion, up from $16.4 billion last year, but segment profits fell 17.8% to $869 million, from $1,057 billion last year. Investors of record on Wednesday, November 15th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.54%. The ex-dividend date of this dividend is Tuesday, November 14th.

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