Target Co. (NYSE:TGT) to Issue Quarterly Dividend of $0.64

Target Co. (NYSE:TGT) declared a quarterly dividend on Wednesday, June 13th, RTT News reports. Investors of record on Wednesday, August 15th will be given a dividend of 0.64 per share by the retailer on Monday, September 10th. This represents a $2.56 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Tuesday, August 14th. This is a positive change from Target’s previous quarterly dividend of $0.62.

Target has raised its dividend payment by an average of 8.7% annually over the last three years and has increased its dividend every year for the last 50 years. Target has a dividend payout ratio of 47.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Target to earn $5.62 per share next year, which means the company should continue to be able to cover its $2.56 annual dividend with an expected future payout ratio of 45.6%.

TGT traded up $0.19 during trading on Friday, reaching $87.50. The stock had a trading volume of 3,448,700 shares, compared to its average volume of 5,569,334. The company has a quick ratio of 0.17, a current ratio of 0.82 and a debt-to-equity ratio of 1.09. Target has a one year low of $54.04 and a one year high of $88.89. The stock has a market cap of $45.63 billion, a PE ratio of 18.49, a P/E/G ratio of 2.40 and a beta of 0.74.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 22nd. The retailer reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.07. Target had a net margin of 4.19% and a return on equity of 24.29%. The business had revenue of $17.78 billion during the quarter, compared to analyst estimates of $17.33 billion. During the same period in the prior year, the business posted $1.23 earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. equities analysts anticipate that Target will post 5.37 earnings per share for the current year.

In related news, insider Laysha Ward sold 43,926 shares of the firm’s stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $79.33, for a total transaction of $3,484,649.58. Following the completion of the sale, the insider now owns 90,460 shares of the company’s stock, valued at $7,176,191.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Janna A. Potts sold 5,152 shares of the firm’s stock in a transaction that occurred on Monday, June 4th. The shares were sold at an average price of $75.00, for a total transaction of $386,400.00. Following the sale, the insider now directly owns 22,304 shares of the company’s stock, valued at approximately $1,672,800. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.

TGT has been the subject of a number of analyst reports. Wolfe Research upgraded shares of Target from a “market perform” rating to an “outperform” rating in a report on Wednesday, May 16th. ValuEngine lowered shares of Target from a “buy” rating to a “hold” rating in a report on Saturday, June 2nd. Credit Suisse Group set a $86.00 target price on shares of Target and gave the stock a “buy” rating in a report on Monday, June 4th. Gordon Haskett upgraded shares of Target from a “hold” rating to an “accumulate” rating in a report on Wednesday, July 25th. Finally, Zacks Investment Research upgraded shares of Target from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a report on Tuesday, May 22nd. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Target currently has a consensus rating of “Hold” and a consensus price target of $87.67.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.

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Dividend History for Target (NYSE:TGT)

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