Friday, 21 July, 2017

Target Raises Earnings Guidance On Higher Same-Store Sales

Target's Moving Bullseye Updated Guidance New Brands And CEO Confidence Boost Stock Target says sales are up after a year-long slump
Freda Brock | 15 July, 2017, 02:27

Target previously said it expected a decline. Vetr lowered Target Corporation from a strong-buy rating to a buy rating and set a $58.97 price target for the company.in a research report on Friday. The stock presently has a consensus rating of Hold and an average price target of $63.76.

Shares of Target Corporation (NYSE TGT) opened at 53.31 on Friday. The same analysts are predicting that the company shares will trade to $57.99 within the next 12-18 months. The company has a market cap of $29.41 billion, a PE ratio of 10.92 and a beta of 0.60. With interest rates still pretty low, Target thus looks compelling for income focused investors - those will benefit from improving fundamentals at Target as well, through a higher dividend growth rate going forward (after Target's rise this year has been rather small at 3%).

United States of America based company, Target Corporation (TGT)'s latest closing price distance was at -15.11% from the average-price of 200 days while it maintained a distance from the 50 Day Moving Average at -1.83% and 2.60% compared with the 20 Day Moving Average. And then on the other side of the spectrum one analyst entrenched in the bullish camp has a target as high as $77. This is an increase of 296% compared to the typical daily volume of 9,682 call options.

Target Corporation (NYSE:TGT) last issued its earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.30.

This news comes after previous predictions from the retailer that same-store sales would be negative, following the trend of its previous four consecutive quarters. The firm's revenue was down 1.1% compared to the same quarter previous year.

Target Corporation (NYSE:TGT) yearly performance is -27.14% and net profit margin is 4.00%.

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ILLEGAL ACTIVITY NOTICE: "Wills Financial Group Inc". If you are accessing this article on another website, it was copied illegally and reposted in violation of United States and global copyright and trademark law. Envestnet Asset Management Inc.'s holdings in Target Corporation were worth $7,088,000 at the end of the most recent quarter.

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. This represents a $2.48 annualized dividend and a yield of 4.65%. The ex-dividend date of this dividend is Monday, August 14th.

Target boosted its guidance for the second quarter after its campaign to revitalize the brand pushed sales higher and boosted customer traffic. The lowest 12-month price target for the shares is $44.00, which would be decrease of about -17% of its current value. The shares were sold at an average price of $52.05, for a total transaction of $137,359.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

When investors engage in short selling or "shorting a stock", they actually borrow shares from an existing owner, sell the borrowed shares at market price, and take the cash.

A number of hedge funds have recently added to or reduced their stakes in TGT. Discount retailer Dollar Tree's shares rose 1.7 percent and Costco's stock was up 1 percent. Linscomb & Williams Inc. boosted its position in shares of Target Corporation by 0.7% in the fourth quarter. The Intact Investment Management Inc holds 100,500 shares with $7.26M value, down from 110,200 last quarter.

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