Target Co. (NYSE:TGT – Get Rating) – Equities research analysts at Telsey Advisory Group lowered their Q2 2023 EPS estimates for shares of Target in a research report issued to clients and investors on Tuesday, June 7th. Telsey Advisory Group analyst J. Feldman now expects that the retailer will post earnings of $0.82 per share for the quarter, down from their prior estimate of $2.38. Telsey Advisory Group has a “Outperform” rating and a $185.00 price target on the stock. Telsey Advisory Group also issued estimates for Target’s Q3 2023 earnings at $2.68 EPS, FY2023 earnings at $8.95 EPS, Q1 2024 earnings at $3.46 EPS, Q2 2024 earnings at $3.17 EPS, Q3 2024 earnings at $3.13 EPS, Q4 2024 earnings at $3.75 EPS and FY2024 earnings at $13.51 EPS.
Target (NYSE:TGT – Get Rating) last issued its earnings results on Wednesday, May 18th. The retailer reported $2.19 earnings per share for the quarter, missing the consensus estimate of $3.07 by ($0.88). Target had a return on equity of 44.75% and a net margin of 5.48%. The firm had revenue of $24.83 billion during the quarter, compared to analyst estimates of $24.48 billion. During the same period in the previous year, the company earned $3.69 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis.
Shares of TGT stock opened at $154.55 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.87 and a quick ratio of 0.14. Target has a fifty-two week low of $145.51 and a fifty-two week high of $268.98. The stock’s 50-day moving average is $205.29 and its two-hundred day moving average is $216.50. The firm has a market cap of $71.66 billion, a P/E ratio of 12.82, a PEG ratio of 1.09 and a beta of 0.96.
Institutional investors and hedge funds have recently modified their holdings of the business. Landmark Wealth Management LLC acquired a new stake in shares of Target in the 1st quarter valued at $25,000. Blume Capital Management Inc. acquired a new stake in shares of Target in the 1st quarter valued at $25,000. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Target in the 4th quarter valued at $27,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Target in the 4th quarter valued at $28,000. Finally, Founders Capital Management acquired a new stake in shares of Target in the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 81.83% of the company’s stock.
In other Target news, insider Don H. Liu sold 8,500 shares of Target stock in a transaction on Monday, April 18th. The stock was sold at an average price of $240.00, for a total value of $2,040,000.00. Following the completion of the transaction, the insider now owns 51,759 shares in the company, valued at approximately $12,422,160. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Cara A. Sylvester sold 2,030 shares of Target stock in a transaction on Wednesday, April 20th. The shares were sold at an average price of $250.00, for a total value of $507,500.00. Following the completion of the transaction, the insider now owns 7,891 shares of the company’s stock, valued at approximately $1,972,750. The disclosure for this sale can be found here. Insiders sold a total of 99,363 shares of company stock valued at $21,970,253 in the last quarter. Corporate insiders own 0.29% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, September 10th. Shareholders of record on Wednesday, August 17th will be given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.80%. This is an increase from Target’s previous quarterly dividend of $0.90. Target’s dividend payout ratio (DPR) is currently 29.85%.
About Target (Get Rating)
Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.
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