Target Co. Announces Quarterly Dividend of $0.62 (TGT)

Target Co. (NYSE:TGT) announced a quarterly dividend on Thursday, January 11th, RTT News reports. Shareholders of record on Wednesday, February 21st will be given a dividend of 0.62 per share by the retailer on Saturday, March 10th. This represents a $2.48 annualized dividend and a yield of 3.28%. The ex-dividend date is Tuesday, February 20th.

Target has increased its dividend by an average of 8.7% annually over the last three years and has increased its dividend every year for the last 50 years. Target has a dividend payout ratio of 52.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Target to earn $5.28 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 47.0%.

Shares of Target (TGT) opened at $75.70 on Monday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.27 and a current ratio of 0.96. The firm has a market capitalization of $41,148.45, a PE ratio of 15.77, a price-to-earnings-growth ratio of 3.57 and a beta of 0.76. Target has a one year low of $48.56 and a one year high of $78.70.

In other Target news, insider Stephanie A. Lundquist sold 3,000 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $78.08, for a total transaction of $234,240.00. Following the transaction, the insider now owns 16,906 shares in the company, valued at $1,320,020.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roxanne S. Austin sold 4,705 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $62.61, for a total value of $294,580.05. The disclosure for this sale can be found here. Insiders have sold 16,262 shares of company stock worth $1,185,484 in the last quarter. 0.20% of the stock is currently owned by company insiders.

TGT has been the topic of several research analyst reports. Vetr downgraded Target from a “strong-buy” rating to a “buy” rating and set a $64.00 price target on the stock. in a research note on Monday, November 20th. Deutsche Bank upgraded Target from a “neutral” rating to a “positive” rating and boosted their price target for the company from $57.00 to $70.00 in a research note on Wednesday, January 10th. Zacks Investment Research downgraded Target from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. Morgan Stanley dropped their price target on Target from $52.00 to $50.00 and set an “underweight” rating on the stock in a research note on Thursday, November 16th. Finally, Barclays set a $45.00 price target on Target and gave the company a “sell” rating in a research note on Wednesday, November 15th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $69.56.

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Target Company Profile

Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.

Dividend History for Target (NYSE:TGT)

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