Targets Posts Lower Profit, Forecasts Moderate Holiday Sales Growth

Lloyd Doyle
November 15, 2017

"While we expect the fourth-quarter environment to be highly competitive, we are very confident in our holiday season plans", he said.

The stock increased or $0 during the last trading session, hitting $. BlackRock Inc. boosted its holdings in shares of Target Corporation by 2,069.0% during the first quarter. The firm now has $67.50 target price on the retailer's stock. NN Investment Partners Holdings N.V. now owns 115,107 shares of the retailer's stock worth $8,314,000 after buying an additional 4,261 shares during the 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. Franklin Resources Inc. now owns 21,112,915 shares of the retailer's stock worth $1,103,994,000 after purchasing an additional 1,686,774 shares during the period. Zacks Investment Research cut Target Corporation from a "buy" rating to a "hold" rating in a research report on Monday, October 23rd. GA ADV now owns 9,847 shares of the retailer's stock valued at $515,000 after buying an additional 74 shares in the last quarter.

A number of brokerages have weighed in on TGT. BMO Capital Markets restated a "market weight" rating on shares of Target Corporation in a research note on Thursday, September 14th.

Target reported a third-quarter profit of $480 million, or 88 cents per share, for the period ended October 28. The company's stock had a trading volume of 3,550,344 shares, compared to its average volume of 7,166,543. Citigroup Inc. reissued a "buy" rating and set a $80.00 price target on shares of Target a research note on Wednesday, December 28th.

At the moment 26 analysts are watching Target Corporation (NASDAQ:TGT), 2 rate it "Buy", 2 "Outperform", 18 "Underperform", 3 "Sell", while 1 "Hold". They set a "buy" rating and a $85.00 target price for the company. The stock was sold at an average price of $59.37, for a total value of $277,792.23. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company's stock.

Target's (tgt) return to growth is proving to be a bit expensive for many investors, and shares fell sharply on Wednesday on the retailer's underwhelming holiday quarter profit forecast. Target Corporation has a 12-month low of $48.56 and a 12-month high of $79.33. The company has a current ratio of 0.91, a quick ratio of 0.26 and a debt-to-equity ratio of 0.98. The stock has a market cap of $32,992.40, a PE ratio of 12.25, a price-to-earnings-growth ratio of 2.84 and a beta of 0.63.

Target Corporation (NYSE:TGT) last issued its earnings results on Wednesday, August 16th.

The discount retailer reported good news on the sales front, with comparable sales rising 0.9% in the third quarter, beating the average analyst estimate of 0.4%, according to Consensus Metrix. The business had revenue of $16.44 billion for the quarter, compared to analyst estimates of $16.30 billion. And Target has also been expanding its online services including now shipping online orders from 1,400 of its 1,800 stores for faster delivery.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 10th. Shareholders of record on Wednesday, November 15th will be issued a dividend of $0.62 per share. The ex-dividend date is Monday, February 13th. This represents a $2.48 annualized dividend and a yield of 4.11%. Target Corporation's payout ratio is 50.00%. Parallel Advisors LLC increased its position in shares of Target Corporation by 23.8% during the 2nd quarter. If you are viewing this report on another website, it was copied illegally and republished in violation of United States and global copyright law.

The Company sells a range of general merchandise and food through its store and digital channels.

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