Target Corporation (NYSE: TGT) stock fell -1.64% on Thursday to $140.75 against a previous-day closing price of $143.10. With 7.4 million shares changed hands, the volume of the stock remained heavier than its average volume of 3.4 million shares. During the session, the Discount Stores company that operates in wider Consumer Defensive sector, reached to the highest price of $142.20 whereas the lowest price it dropped to was $138.65. The 52-week range on TGT shows that it touched its highest point at $183.89 and its lowest point at $137.16 during that stretch. It currently has a 1-year price target of $179.34. With its current market cap of 65.77 billion, TGT has annualized dividend of $4.32 while the current yield stands at 3.07%. Beta for the stock currently stands at 1.03.
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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 down-trending over the past week, with a drop of -8.71%, but this was down by -9.46% over a month. Three-month performance dropped to -15.70% while six-month performance fell -10.84%. The stock lost -6.14% in the past year, while it has lost -5.56% so far this year. A look at the trailing 12-month EPS for TGT yields 5.98 with Next year EPS estimates of 10.40. For the next quarter, that number is 1.62. This implies an EPS growth rate of -57.60% for this year and 24.21% for next year. EPS is expected to decline by -7.51% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 5.10%.
Float and Shares Shorts:
At present, 460.60 million TGT shares are outstanding with a float of 459.38 million shares on hand for trading. On Apr 27, 2023, short shares totaled 10.13 million, which was 2.19% higher than short shares on Mar 30, 2023. 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 81.70% of TGT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 44.00% of TGT, in contrast to 38.79% held by mutual funds. Shares owned by individuals account for 1.07%. As the largest shareholder in TGT with 8.76% of the stake, The Vanguard Group, Inc. holds 40,327,479 shares worth 40,327,479. A second-largest stockholder of TGT, Capital Research & Management Co, holds 36,087,765 shares, controlling over 7.84% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in TGT, holding 34,570,634 shares or 7.51% stake. With a 3.11% stake in TGT, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 14,309,701 shares are owned by the mutual fund manager. The Vanguard 500 Index Fund, which owns about 2.35% of TGT stock, is the second-largest Mutual Fund holder. It holds 10,804,119 shares valued at 1.7 billion. American Balanced Fund holds 2.14% of the stake in TGT, owning 9,838,429 shares worth 1.55 billion.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Apr 28, 2023, TGT reported revenue of $25.17B and operating income of $1.35B. The EBITDA in the recently reported quarter was $2.04B and diluted EPS was $2.16.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TGT since 0 analysts follow the stock currently. 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 $220.00 and a low target of $156.00, the average target price over the next 12 months is $178.87. Based on these targets, TGT could surge 56.31% to reach the target high and rise by 10.83% to reach the target low. Reaching the average price target will result in a growth of 27.08% 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.
Summary of Insider Activity:
Insiders traded TGT stock several times over the past three months with 48 Buys and 59 Sells. In these transactions, 488,274 shares were bought while 254,238 shares were sold. The number of buy transactions has increased to 51 while that of sell transactions has risen to 76 over the past year. The total number of shares bought during that period was 654,123 while 536,186 shares were sold.