Short Interest in Target Co. (NYSE:TGT) Expands By 25.3%

Target Co. (NYSE:TGT) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 14,430,000 shares, a growth of 25.3% from the February 28th total of 11,520,000 shares. Approximately 3.2% of the company’s shares are short sold. Based on an average daily volume of 6,410,000 shares, the short-interest ratio is currently 2.3 days.

Target Trading Up 1.4 %

Shares of Target stock opened at $105.84 on Thursday. The company has a market cap of $48.22 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 1.94 and a beta of 1.18. Target has a 1 year low of $99.67 and a 1 year high of $177.23. The company’s fifty day simple moving average is $121.12 and its 200-day simple moving average is $135.54. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last posted its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.17. Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $30.92 billion for the quarter, compared to the consensus estimate of $30.83 billion. As a group, sell-side analysts expect that Target will post 8.69 EPS for the current year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be paid a $1.12 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.23%. Target’s payout ratio is 50.56%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Jefferies Financial Group reduced their target price on Target from $165.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Bank of America reduced their price objective on Target from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Gordon Haskett cut Target from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. Roth Mkm reissued a “neutral” rating and issued a $122.00 price target (down from $131.00) on shares of Target in a research report on Wednesday, March 5th. Finally, DA Davidson decreased their price target on shares of Target from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $142.90.

Institutional Investors Weigh In On Target

Institutional investors have recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB lifted its stake in Target by 15.7% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 27,066 shares of the retailer’s stock worth $2,825,000 after purchasing an additional 3,670 shares during the period. Wellington Management Group LLP lifted its position in shares of Target by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 56,384 shares of the retailer’s stock worth $7,622,000 after buying an additional 6,253 shares during the period. Mascagni Wealth Management Inc. acquired a new stake in Target in the 4th quarter valued at $49,000. DSG Capital Advisors LLC acquired a new stake in Target in the 4th quarter valued at $18,238,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in Target by 6.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 166,086 shares of the retailer’s stock valued at $22,451,000 after acquiring an additional 10,356 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Company Profile

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.