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Target Corporation (NYSE: TGT) In 2023: Reward Or Shame To Investors?

In the last trading session, 4.36 million shares of the Target Corporation (NYSE:TGT) were traded, and its beta was 1.03. Most recently the company’s share price was $147.16, and it changed around -$4.75 or -3.13% from the last close, which brings the market valuation of the company to $68.77B. TGT currently trades at a discount to its 52-week high of $183.89, offering almost -24.96% off that amount. The share price’s 52-week low was $137.16, which indicates that the current value has risen by an impressive 6.8% since then. We note from Target Corporation’s average daily trading volume that its 10-day average is 4.77 million shares, with the 3-month average coming to 3.31 million.

Target Corporation stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.20. If we narrow it down even further, the data shows that 0 out of 35 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 15 recommended TGT as a Hold, whereas 17 deemed it a Buy, and 0 rated it as Underweight. Target Corporation is expected to report earnings per share of $1.62 for the current quarter.

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Target Corporation (NYSE:TGT) trade information

Instantly TGT has showed a red trend with a performance of -3.13% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 162.84 on Tuesday, 05/23/23 increased the stock’s daily price by 9.63%. The company’s shares are currently down -1.26% year-to-date, but still down -6.21% over the last five days. On the other hand, Target Corporation (NYSE:TGT) is -10.24% down in the 30-day period. We can see from the shorts that 10.13 million shares have been sold at a short interest cover period of 3.66 day(s).

The consensus price target as assigned by Wall Street analysts is $178.87, which translates to bulls needing to increase their stock price by 17.73% from its current value. Analyst projections state that TGT is forecast to be at a low of $156.00 and a high of $220.00. In order for the stock price to hit the forecast high, the stock would need to plunge -49.5% from its current level, while the stock would need to crash -6.01% from its current level to reach the projected low.

Target Corporation (TGT) estimates and forecasts

Target Corporation share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -9.65 percent over the past six months and at a 37.71% annual growth rate that is well above the industry average of 15.30%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 315.40% in revenue this quarter, and will report an increase of 33.80% in the next quarter. The year-over-year growth rate is expected to be 1.40%, up from the previous year.

Consensus estimates provided by 25 financial analysts predict the company will bring in an average of $25.77 billion in revenue for the current quarter. 25 analysts expect Target Corporation to make $26.58 billion in revenue for the quarter ending Oct 2023. The company’s sales for the same quarters a year ago were $26.04 billion and $26.52 billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -1.00%. Forecasts for the next quarter put sales growth at 0.20%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 5.10%. Target Corporation earnings are expected to increase by -57.60% in 2023, but the outlook is negative -7.51% per year for the next five years.

TGT Dividends

Target Corporation’s next quarterly earnings report is expected to be released around August 15 and August 21. The annual dividend yield of the stock is 2.94 percent and its annual dividend per share was 4.32. It is important to note, however, that the 2.94% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

Target Corporation (NYSE:TGT)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.20% of Target Corporation shares, and 81.70% of them are in the hands of institutional investors. The stock currently has a share float of 81.86%. Target Corporation stock is held by 2,470 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2023, it held 9.16% of the shares, which is about 42.27 million shares worth $7.0 billion.

Capital World Investors, with 7.82% or 36.09 million shares worth $5.98 billion as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund were the top two Mutual Funds as of Dec 30, 2022. The former held 13.99 million shares worth $2.09 billion, making up 3.04% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 10.64 million shares worth around $1.59 billion, which represents about 2.31% of the total shares outstanding.

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