Target Corporation (TGT) Upgraded to Buy at Vetr Inc


Aveo Capital Partners LLC bought a new stake in Target Corp. during the fourth quarter worth about $280,000.

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Target Corp. has a 52-week low of $65.06 and a 52-week high of $84.14. Target Corporation's revenue was up 1.6% on a year-over-year basis. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.26. It also sees fourth quarter comps to be flat to up 2%, versus estimates for 0.7% growth.

Target Corporation (NYSE:TGT) last posted its earnings results on Wednesday, August 16th.

The Minneapolis-based retailer reported this morning that comparable sales in the third quarter rose 0.9 percent, driven mostly by a 24 percent increase in online sales.

But as it's investing $7 billion over the next few years in various initiatives to revive its sputtering business, and is taking a hit to margins this year as it has rolled back prices as part of its "priced right daily" campaign to better compete with Walmart on everyday prices, its overall profits dropped 21 percent to $480 million, or 88 cents a share, compared to $608 million, or $1.07 a share in the same period a year ago.

The company expects full-year earnings in the range of $4.40 to $4.60 per share.

"While we expect the fourth-quarter environment to be highly competitive, we are very confident in our holiday season plans", said Brian Cornell, CEO of Target in a company release.

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 is Tuesday, November 14th. This represents a $2.48 annualized dividend and a yield of 4.11%. Target Corporation's dividend payout ratio is presently 50.00%.

A number of brokerages have weighed in on TGT. BidaskClub upgraded Target Corporation from a "sell" rating to a "hold" rating in a report on Monday, July 31st. The stock's current RSI reading is at 47.22. Looking back over the last month, shares have performed -0.74%. Five investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have issued a buy rating to the company.

Net income fell to $480 million, or 88 cents per share, in the third quarter ended October 28, from $608 million, or $1.06 per share, a year earlier, on higher selling and general expenses. The stock was sold at an average price of $75.45, for a total transaction of $298,555.65. The sale was disclosed in a legal filing with the SEC, which is available through this link. The biggest holder now is Mr. Gregg W. Steinhafel who owns 174,323 shares (0.03% of those outstanding), whilst Mr. Douglas A. Scovanner holds 118,988 (0.02% of shares outstanding) and Brian C. Cornell holds 118,856 (0.02% of shares outstanding).

Target Corporation offers everyday essentials and merchandise to its customers.