Target Sees Unusually Large Options Volume (NYSE:TGT)

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

Target Stock Performance

Shares of Target stock opened at $125.01 on Friday. Target has a 12 month low of $120.21 and a 12 month high of $181.86. 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 cap of $57.59 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 2.03 and a beta of 1.24. The business has a fifty day simple moving average of $151.27 and a 200-day simple moving average of $149.69.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a return on equity of 33.10% and a net margin of 4.18%. The company had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. During the same quarter in the prior year, the business posted $2.10 earnings per share. The business’s revenue for the quarter was up .9% compared to the same quarter last year. On average, sell-side analysts anticipate that Target will post 9.55 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.58%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio is 46.28%.

Insider Buying and Selling at Target

In other news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the transaction, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. This trade represents a 4.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the sale, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. This trade represents a 12.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,348 shares of company stock worth $8,290,995 in the last 90 days. 0.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On Target

Several hedge funds have recently bought and sold shares of the business. TAP Consulting LLC bought a new position in Target in the 3rd quarter worth $2,403,000. Olstein Capital Management L.P. increased its stake in shares of Target by 8.7% in the third quarter. Olstein Capital Management L.P. now owns 50,000 shares of the retailer’s stock worth $7,793,000 after purchasing an additional 4,000 shares during the period. Smead Capital Management Inc. increased its stake in shares of Target by 3.4% in the third quarter. Smead Capital Management Inc. now owns 1,243,928 shares of the retailer’s stock worth $193,879,000 after purchasing an additional 41,394 shares during the period. Janus Henderson Group PLC lifted its position in shares of Target by 20.5% during the 1st quarter. Janus Henderson Group PLC now owns 217,214 shares of the retailer’s stock worth $38,484,000 after purchasing an additional 36,941 shares during the last quarter. Finally, Eagle Rock Investment Company LLC grew its holdings in Target by 166.3% in the 3rd quarter. Eagle Rock Investment Company LLC now owns 16,179 shares of the retailer’s stock valued at $2,522,000 after buying an additional 10,103 shares during the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TGT has been the topic of a number of recent analyst reports. Sanford C. Bernstein initiated coverage on shares of Target in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $168.00 price objective on the stock. Daiwa Capital Markets raised Target from a “neutral” rating to an “outperform” rating and set a $170.00 target price on the stock in a research report on Monday, August 26th. Jefferies Financial Group increased their price target on Target from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Evercore ISI reduced their target price on Target from $165.00 to $130.00 and set an “in-line” rating for the company in a research note on Thursday. Finally, Bank of America cut their price target on shares of Target from $195.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.