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Target slides after disappointing holiday guidance

15 November 2017

For the current quarter ending in January, Target expects its per-share earnings to range from $1.05 to $1.25, which is shy of Wall Street projections for $1.27. (NYSE:TGT) by 4.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. Jacobi Capital Management LLC now owns 2,503 shares of the retailer's stock valued at $141,000 after purchasing an additional 1,310 shares during the period.

Receive Target Corporation News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target Corporation with MarketBeat.com's FREE daily email newsletter. 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). Looking back over the last month, shares have performed -0.74%. Prospera Financial Services Inc boosted its position in Target Corp.by 4.6% in the second quarter.

Stock: Shares dropped 5% to 5710 early in the stock market today after closing up 0.5% to 60.09 Tuesday. Dodge & Cox now owns 20,025,223 shares of the retailer's stock worth $1,047,119,000 after purchasing an additional 9,102,526 shares during the period.

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Shares of Target Corp. The firm has "Neutral" rating given on Friday, September 16 by Credit Suisse. Target Corporation has a 12 month low of $48.56 and a 12 month high of $79.33. The stock's 50 day moving average price is $74.51 and its 200-day moving average price is $71.99. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%. (NYSE:TGT) last released its earnings results on Wednesday, November 16th.

Target ( TGT ) sees a "highly competitive" holiday quarter and gave weak earnings guidance, after topping third-quarter expectations Wednesday. Its sales rose 1.4% to $16.67 billion, above analyst predictions of $16.61 billion.

Excluding items, the company earned a profit of 91 cents per share in the quarter ended October 28, beating the average analyst estimate of 86 cents. The firm's revenue was down 6.7% on a year-over-year basis.

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As Target sticks closely to its "signature" categories in the home, apparel, baby and wellness space, much of its success has been found in its private label brands, including kids apparel line Cat & Jack, which raked in $2 billion in its first year on the market. Stockholders of record on Wednesday, November 15th will be paid a $0.62 dividend. The ex-dividend date is Tuesday, November 14th. Target Corporation's dividend payout ratio is now 50.00%.

TGT has been the topic of a number of recent research reports. BidaskClub upgraded shares of Target Corporation from a "hold" rating to a "buy" rating in a research note on Sunday, August 6th. Vetr has "Strong-Buy" rating and $86.04 target. The company presently has an average rating of "Hold" and an average price target of $64.06. The shares were sold at an average price of $59.37, for a total value of $277,792.23. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Target Corporation 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.

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

Target slides after disappointing holiday guidance