Target Corporation (NYSE: TGT) stock fell -0.81% on Friday to $166.56 against a previous-day closing price of $167.92. With 3.15 million shares changed hands, the volume of the stock remained lighter than its average volume of 6.28 million shares. During the session, the Discount Stores company that operates in wider Consumer Defensive sector, reached to the highest price of $168.50 whereas the lowest price it dropped to was $165.73. The 52-week range on TGT shows that it touched its highest point at $268.98 and its lowest point at $137.16 during that stretch. It currently has a 1-year price target of $187.24. With its current market cap of 73.08 billion, TGT has annualized dividend of $4.32 while the current yield stands at 2.59%. Beta for the stock currently stands at 1.02.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TGT was up-trending over the past week, with a rise of 4.48%, but this was up by 15.02% over a month. Three-month performance dropped to -29.85% while six-month performance fell -23.46%. The stock lost -36.07% in the past year, while it has lost -28.03% so far this year. A look at the trailing 12-month EPS for TGT yields 12.06 with Next year EPS estimates of 12.24. For the next quarter, that number is 0.73. This implies an EPS growth rate of 63.10% for this year and 41.49% for next year. EPS is expected to grow by 19.59% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 25.20%.
Float and Shares Shorts:
At present, 464.00 million TGT shares are outstanding with a float of 462.72 million shares on hand for trading. On Jul 14, 2022, short shares totaled 7.14 million, which was 1.54% higher than short shares on Jun 14, 2022. In addition to Mr. Brian C. Cornell as the firm’s Chairman & CEO, Mr. Michael J. Fiddelke serves as its Exec. VP & CFO.
Through their ownership of 80.26% of TGT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 41.51% of TGT, in contrast to 38.96% held by mutual funds. Shares owned by individuals account for 1.00%. As the largest shareholder in TGT with 8.92% of the stake, The Vanguard Group, Inc. holds 41,341,510 shares worth 41,341,510. A second-largest stockholder of TGT, SSgA Funds Management, Inc., holds 35,757,060 shares, controlling over 7.71% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in TGT, holding 25,882,832 shares or 5.58% stake. With a 2.95% stake in TGT, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 13,672,402 shares are owned by the mutual fund manager. The Vanguard 500 Index Fund, which owns about 2.21% of TGT stock, is the second-largest Mutual Fund holder. It holds 10,233,767 shares valued at 1.45 billion. Fidelity 500 Index Fund holds 1.09% of the stake in TGT, owning 5,051,406 shares worth 713.41 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TGT since 31 analysts follow the stock currently. There are 17 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 11 believe that the stock is worth HOLDING, 3 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With TGT analysts setting a high price target of $231.00 and a low target of $150.00, the average target price over the next 12 months is $184.52. Based on these targets, TGT could surge 38.69% to reach the target high and fall by -9.94% to reach the target low. Reaching the average price target will result in a growth of 10.78% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. TGT will report FY 2023 earnings on 02/28/2023. Analysts have provided yearly estimates in a range of $11.69 being high and $7.00 being low. For TGT, this leads to a yearly average estimate of $8.58. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Target Corporation surprised analysts by -$0.88 when it reported $2.19 EPS against a consensus estimate of $3.07. The surprise factor in the prior quarter was $0.34. Based on analyst estimates, the high estimate for the next quarter is $2.80 and the low estimate is $0.61. The average estimate for the next quarter is thus $0.80.
Summary of Insider Activity:
Insiders traded TGT stock several times over the past three months with 0 Buys and 5 Sells. In these transactions, 0 shares were bought while 45,913 shares were sold. The number of buy transactions has increased to 56 while that of sell transactions has risen to 110 over the past year. The total number of shares bought during that period was 866,291 while 901,837 shares were sold.