Target Co. (TGT) To Go Ex-Dividend on November 20th

Target Co. (NYSE:TGT) declared a quarterly dividend on Wednesday, September 18th,Zacks Dividends reports. Stockholders of record on Wednesday, November 20th will be given a dividend of 1.12 per share by the retailer on Tuesday, December 10th. This represents a $4.48 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Wednesday, November 20th.

Target has raised its dividend payment by an average of 17.6% per year over the last three years and has increased its dividend every year for the last 54 years. Target has a dividend payout ratio of 42.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Target to earn $10.57 per share next year, which means the company should continue to be able to cover its $4.48 annual dividend with an expected future payout ratio of 42.4%.

Target Stock Down 0.9 %

Target stock opened at $152.13 on Monday. The firm has a fifty day moving average price of $152.56 and a two-hundred day moving average price of $150.34. The firm has a market cap of $70.08 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 2.01 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. Target has a fifty-two week low of $127.19 and a fifty-two week high of $181.86.

Target (NYSE:TGT) last posted its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. The business had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.80 earnings per share. As a group, analysts forecast that Target will post 9.55 earnings per share for the current year.

Insider Activity

In other Target news, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the sale, the chief accounting officer now owns 7,276 shares in the company, valued at $1,114,173.88. The trade was a 12.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the sale, the insider now directly owns 123,551 shares of the company’s stock, valued at $19,418,510.67. This represents a 4.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,348 shares of company stock valued at $8,290,995 in the last quarter. Company insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

TGT has been the topic of several research analyst reports. TD Cowen upped their price objective on shares of Target from $165.00 to $180.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Telsey Advisory Group reiterated an “outperform” rating and set a $195.00 target price on shares of Target in a research report on Wednesday, November 13th. Truist Financial upped their target price on shares of Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Stifel Nicolaus upped their target price on shares of Target from $147.00 to $165.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Finally, Melius Research initiated coverage on shares of Target in a report on Monday, September 23rd. They issued a “buy” rating and a $180.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $179.47.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.