Stock Traders Purchase Large Volume of Target Call Options (NYSE:TGT)

Target Co. (NYSE:TGT) saw some unusual options trading on Friday. Traders purchased 97,780 call options on the stock. This is an increase of approximately 121% compared to the typical volume of 44,326 call options.

Insider Activity at Target

In other news, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the transaction, the chief accounting officer now owns 7,276 shares in the company, valued at approximately $1,114,173.88. This trade represents a 12.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the sale, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This represents a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,348 shares of company stock valued at $8,290,995. Company insiders own 0.15% of the company’s stock.

Institutional Trading of Target

A number of institutional investors have recently made changes to their positions in the business. Triad Wealth Partners LLC acquired a new position in shares of Target in the 2nd quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new position in Target in the 3rd quarter valued at $28,000. Slocum Gordon & Co LLP purchased a new stake in Target during the 2nd quarter valued at about $28,000. Hobbs Group Advisors LLC acquired a new position in shares of Target during the 2nd quarter worth approximately $31,000. Finally, Wolff Wiese Magana LLC increased its holdings in shares of Target by 156.5% in the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after purchasing an additional 133 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Trading Up 2.4 %

NYSE:TGT traded up $2.90 during mid-day trading on Friday, hitting $124.49. 5,988,194 shares of the stock traded hands, compared to its average volume of 4,312,788. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $57.35 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 2.03 and a beta of 1.24. Target has a 52 week low of $120.21 and a 52 week high of $181.86. The firm’s 50 day moving average is $151.79 and its two-hundred day moving average is $149.92.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.45). The firm had revenue of $25.23 billion during the quarter, compared to the consensus estimate of $25.87 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the company earned $2.10 EPS. On average, equities research analysts predict that Target will post 9.55 earnings per share for the current year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.60%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio is currently 46.28%.

Analyst Ratings Changes

A number of research firms recently issued reports on TGT. Melius Research initiated coverage on shares of Target in a research note on Monday, September 23rd. They issued a “buy” rating and a $180.00 price target for the company. UBS Group upped their price objective on shares of Target from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Telsey Advisory Group reiterated an “outperform” rating and set a $195.00 target price on shares of Target in a report on Wednesday. Sanford C. Bernstein initiated coverage on Target in a research report on Tuesday, October 22nd. They set a “market perform” rating and a $168.00 price objective for the company. Finally, Daiwa Capital Markets upgraded Target from a “neutral” rating to an “outperform” rating and set a $170.00 price target for the company in a report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.13.

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.