Brokerages expect Target Co. (NYSE:TGT) to report $16.43 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Target’s earnings. The lowest sales estimate is $16.26 billion and the highest is $16.57 billion. Target posted sales of $16.02 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 2.6%. The firm is scheduled to report its next quarterly earnings results on Wednesday, May 16th.
On average, analysts expect that Target will report full year sales of $72.20 billion for the current fiscal year, with estimates ranging from $70.92 billion to $72.76 billion. For the next financial year, analysts anticipate that the business will report sales of $73.63 billion per share, with estimates ranging from $72.08 billion to $74.49 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Target.
Target (NYSE:TGT) last posted its quarterly earnings results on Tuesday, March 6th. The retailer reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.02). Target had a return on equity of 23.04% and a net margin of 4.08%. The company had revenue of $22.77 billion for the quarter, compared to the consensus estimate of $22.56 billion. During the same quarter in the previous year, the business earned $1.45 earnings per share. Target’s revenue was up 10.0% compared to the same quarter last year.
TGT traded up $0.63 on Monday, hitting $70.95. 3,345,801 shares of the company were exchanged, compared to its average volume of 6,483,108. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.95 and a quick ratio of 0.30. Target has a 12 month low of $48.56 and a 12 month high of $78.70. The firm has a market cap of $38,224.03, a price-to-earnings ratio of 15.06, a PEG ratio of 2.96 and a beta of 0.73.
The company also recently declared a quarterly dividend, which will be paid on Sunday, June 10th. Investors of record on Wednesday, May 16th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.50%. Target’s dividend payout ratio is presently 52.65%.
In related news, insider Stephanie A. Lundquist sold 3,000 shares of Target 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 sale, the insider now directly owns 16,906 shares in the company, valued at $1,320,020.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John J. Mulligan sold 118,373 shares of Target stock in a transaction that occurred on Tuesday, April 3rd. The shares were sold at an average price of $69.37, for a total value of $8,211,535.01. Following the sale, the insider now owns 195,906 shares in the company, valued at $13,589,999.22. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital Investment Advisory Services LLC raised its stake in Target by 9.9% during the fourth quarter. Capital Investment Advisory Services LLC now owns 7,675 shares of the retailer’s stock valued at $501,000 after buying an additional 693 shares during the last quarter. Corient Capital Partners LLC raised its stake in Target by 11.1% during the fourth quarter. Corient Capital Partners LLC now owns 6,994 shares of the retailer’s stock valued at $456,000 after buying an additional 699 shares during the last quarter. White Pine Capital LLC raised its stake in Target by 2.7% during the fourth quarter. White Pine Capital LLC now owns 27,908 shares of the retailer’s stock valued at $1,821,000 after buying an additional 725 shares during the last quarter. Haverford Trust Co. raised its stake in Target by 4.0% during the fourth quarter. Haverford Trust Co. now owns 20,290 shares of the retailer’s stock valued at $1,324,000 after buying an additional 775 shares during the last quarter. Finally, Heritage Trust Co raised its stake in Target by 49.4% during the fourth quarter. Heritage Trust Co now owns 2,645 shares of the retailer’s stock valued at $173,000 after buying an additional 874 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.
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Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.
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