Target sees highly competitive holiday on the way

15 November, 2017, 16:52 | Author: Regina Silva
  • Target CEO Brian Cornell did an¬†interview with CNBC Wednesday after stocks fell 8 percent

The Minneapolis-based retailer reported this morning that comparable sales in the third quarter rose 0.9 percent, driven mostly by a 24 percent increase in online sales.

Confidence does have its limits however as revealed by Target's guidance for fourth quarter same store sales which envisions a range of possibilities from flat to 2% growth.

A number of brokerages have weighed in on TGT. Accern also gave headlines about the retailer an impact score of 45.8763683242649 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company's share price in the immediate future. Finally, BMO Capital Markets reaffirmed a "market perform" rating and set a $67.00 price target (up from $62.00) on shares of Target Corporation in a research report on Friday, August 18th. Buckingham Research's target price would suggest a potential upside of 17.76% from the stock's previous close.

TRADEMARK VIOLATION WARNING: "Target Corporation (TGT) Shares Bought by First Quadrant L P CA" was first reported by Week Herald and is owned by of Week Herald.

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But as it's investing $7 billion over the next few years in various initiatives to revive its sputtering business, and is taking a hit to margins this year as it has rolled back prices as part of its "priced right daily" campaign to better compete with Walmart on everyday prices, its overall profits dropped 21 percent to $480 million, or 88 cents a share, compared to $608 million, or $1.07 a share in the same period a year ago. Vetr raised Target Corp. from a "hold" rating to a "buy" rating and set a $69.34 price target on the stock in a research note on Thursday, November 3rd. BidaskClub upgraded shares of Target Corporation from a "hold" rating to a "buy" rating in a research note on Sunday, August 6th. After a recent check, company stock has been trading near the $59.21 mark.

That suggests that Target's efforts at better integration between stores and e-commerce, better product presentation and customer service, and new house brands like Cat & Jack are getting people to turn up at its physical stores. Target Corporation has a 12-month low of $48.56 and a 12-month high of $79.33. The stock now has an average rating of "Hold" and a consensus target price of $64.06.

It was also the second consecutive quarter of same-store gains. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. During the same quarter past year, the firm earned $1.23 EPS. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.11%. Target Corp.'s dividend payout ratio is presently 42.93%. If you are viewing this story on another site, it was copied illegally and republished in violation of USA and global trademark & copyright legislation. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online. The Company's general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items.



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