Earnings on the Doorstep For Target Corporation

Earnings on the Doorstep For Target Corporation

The fund owned 1,867,373 shares of the retailer's stock after selling 90,156 shares during the period.

"We're very pleased with Target's third quarter performance, including traffic and sales growth that demonstrate we're building on the progress we saw in the first half of the year", said Brian Cornell, chairman and chief executive officer of Target Corporation.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TGT.

The company said sales at stores open at least a year increased 0.9% in the quarter ended October 28, compared with a 0.2% decline in the same period last year. Davidson Investment Advisors now owns 2,559 shares of the retailer's stock valued at $141,000 after purchasing an additional 400 shares during the period. BlackRock Inc. now owns 47,046,403 shares of the retailer's stock worth $2,596,495,000 after purchasing an additional 44,877,391 shares during the period. Candriam Luxembourg S.C.A. boosted its position in Target Corp.by 58.3% in the second quarter. For the past 5 days of trading, the stock has seen a move of 1.87%. Cullen Frost Bankers Inc. boosted its position in Target Corp.by 9.2% in the second quarter. That compares with $608 million, or $1.06 per share, in the year-ago period.

TGT has been the topic of a number of recent research reports. Buckingham Research restated a "buy" rating and set a $85.00 price target (up from $79.00) on shares of Target Corp.in a report on Sunday, December 4th. MKM Partners assumed coverage on shares of Target Corporation in a research note on Wednesday, October 18th. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Vetr upgraded Target Corp. from a "sell" rating to a "hold" rating and set a $77.48 price target on the stock in a report on Monday, November 28th.

ILLEGAL ACTIVITY NOTICE: "Somewhat Favorable News Coverage Somewhat Unlikely to Affect Target Corporation (NYSE:TGT) Share Price" was published by TrueBlueTribune and is the property of of TrueBlueTribune. The stock was sold at an average price of $75.45, for a total transaction of $298,555.65. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The company has a market cap of $36.73 billion, a P/E ratio of 11.64 and a beta of 0.62. 6,608,700 shares of the company were exchanged, compared to its average volume of 7,166,543. Target Corporation's revenue was up 1.6% on a year-over-year basis. The relative volume (ratio between current volume and 3-month average) is presently sitting at 0.91.

Target Corporation (NYSE:TGT) last announced its quarterly 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. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%.

For the fourth quarter, the company expects flat to 2 percent growth in comps, rendering the full year comps at flat to 1 percent growth. The company had revenue of $16.43 billion during the quarter, compared to analysts' expectations of $16.30 billion. It was also the second consecutive quarter of same-store gains. Stockholders of record on Wednesday, November 15th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Monday, February 13th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.16%. Target Corporation's payout ratio is 50.00%.

Target Corporation (TGT) opened at $60.09 on Wednesday. If you are viewing this report on another website, it was copied illegally and republished in violation of United States and worldwide copyright law.

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