Target Sees Unusually Large Options Volume (NYSE:TGT)

Target Co. (NYSE:TGT) was the target of unusually large options trading on Monday. Investors acquired 74,141 call options on the stock. This represents an increase of 35% compared to the average daily volume of 54,941 call options.

Target Stock Down 0.1 %

TGT stock opened at $135.09 on Wednesday. The stock’s 50 day moving average is $145.97 and its 200-day moving average is $147.52. Target has a twelve month low of $120.21 and a twelve month high of $181.86. The firm has a market capitalization of $61.90 billion, a PE ratio of 14.32, a P/E/G ratio of 2.17 and a beta of 1.17. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The firm had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Target’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.10 earnings per share. Sell-side analysts expect that Target will post 8.6 EPS for the current fiscal year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th were given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend was Wednesday, November 20th. Target’s payout ratio is 47.51%.

Wall Street Analyst Weigh In

Several research firms recently commented on TGT. Jefferies Financial Group lifted their target price on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. UBS Group boosted their price objective on shares of Target from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. TD Cowen lowered their target price on Target from $165.00 to $145.00 and set a “hold” rating for the company in a research report on Thursday, November 21st. Sanford C. Bernstein started coverage on Target in a report on Tuesday, October 22nd. They set a “market perform” rating and a $168.00 target price on the stock. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $195.00 price target on shares of Target in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $160.57.

Insider Activity at Target

In other news, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 123,551 shares in the company, valued at approximately $19,418,510.67. This represents a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.15% of the stock is currently owned by insiders.

Institutional Trading of Target

Hedge funds have recently bought and sold shares of the business. State Street Corp raised its stake in shares of Target by 8.3% during the 3rd quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock worth $5,530,576,000 after purchasing an additional 2,732,801 shares during the period. International Assets Investment Management LLC increased its holdings in Target by 9,940.6% during the third quarter. International Assets Investment Management LLC now owns 2,001,391 shares of the retailer’s stock worth $311,937,000 after buying an additional 1,981,458 shares during the last quarter. Two Sigma Advisers LP raised its position in Target by 173.2% in the third quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock worth $369,295,000 after acquiring an additional 1,502,200 shares during the period. FMR LLC boosted its stake in Target by 11.7% in the third quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock valued at $1,555,542,000 after acquiring an additional 1,046,044 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Target by 711.2% during the 2nd quarter. AQR Capital Management LLC now owns 876,531 shares of the retailer’s stock valued at $129,762,000 after acquiring an additional 768,479 shares during the period. 79.73% of the stock is currently owned by institutional investors.

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.