The Target (TGT) Releases Q1 Earnings Guidance

Mar 09, 2018, 07:53
The Target (TGT) Releases Q1 Earnings Guidance

The Manufacturers Life Insurance Company trimmed its stake in Target Co. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The institutional investor owned 86,827 shares of the retailer's stock after selling 10,521 shares during the period. If the $78.90 price target is reached, the company will be worth $2.04B more.

Clifford Swan Investment Counsel LLC trimmed its position in Target Co. American Trust Investment Advisors LLC now owns 19,055 shares of the retailer's stock worth $1,243,000 after purchasing an additional 960 shares during the last quarter. Bank of New York Mellon Corp now owns 10,654,835 shares of the retailer's stock worth $695,229,000 after buying an additional 916,178 shares during the last quarter. NY acquired a new position in Target in the 3rd quarter valued at about $65,948,000. Hamlin Capital Management LLC bought a new position in shares of Target in the 4th quarter worth $60,860,000. Jacobi Capital Management LLC now owns 2,503 shares of the retailer's stock worth $141,000 after buying an additional 1,310 shares during the period. The stock has "Hold" rating by Jefferies on Tuesday, January 9. Insiders sold 16,262 shares of company stock worth $1,185,484 in the last 90 days.

In other Target news, insider Robert M. Harrison sold 8,557 shares of the stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $78.08, for a total transaction of $234,240.00. The disclosure for this sale can be found here.

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For the first quarter 2018, Target expects a low-single digit increase in comparable sales, and both GAAP earnings per share from continuing operations and adjusted earnings per share of $1.25 to $1.45. And, after a successful 2017 launch of Target Restock, the company will expand the next-day home delivery service of essentials to more than 30 new cities, serving almost three-fourths of the US population by the end of 2018.

Liberty Mutual Group Asset Management Inc. reduced its stake in Target Co. (TGT) opened at $71.79 on Wednesday. The company has a quick ratio of 0.27, a current ratio of 0.96 and a debt-to-equity ratio of 1.01. The company has a market cap of $40,844.05, a P/E ratio of 15.02, a PEG ratio of 3.54 and a beta of 0.71.

Target Corp. reports financial results on Tuesday, March 6, 2018.

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Net income for the fourth quarter, which included an extra week than in 2016, totaled US$1.1bn, or US$2.02 a share, compared with US$817mln, or US$1.45 per share, a year earlier. The company had revenue of $22.77 billion for the quarter, compared to analyst estimates of $22.56 billion.

Add to that Target's pledge to raise its internal minimum wage to $15 by 2020 (it'll be $12 this spring), and the ramping up f store remodels this year to 300 locations, and you have enormous pressure on Target's margins, a big reason the company's shares fell about 6% during the executives presentations. Target's quarterly revenue was up 10.0% compared to the same quarter last year. analysts predict that Target Co. will post 4.72 EPS for the current year. The initiative is part of Target's multi-year $7 billion plan announced last year that aimed to fully integrate stores and e-commerce and use its 1,800 stores to speed up delivery. Shareholders of record on Wednesday, February 21st will be paid a $0.62 dividend. That value represents a market adjusting for revenues that have been growing by 1.37 % on a quarterly year/year basis as of the company's last quarterly report. The ex-dividend date is Tuesday, February 20th. Target's dividend payout ratio is now 51.88%. Stifel Nicolaus maintained Target Corporation (NYSE:TGT) rating on Monday, September 18. Barclays set a $45.00 price target on shares of Target and gave the stock a "sell" rating in a report on Wednesday, November 15th. MKM Partners set a $77.00 price objective on shares of Target and gave the company a "buy" rating in a report on Thursday, December 14th. Target presently has a consensus rating of "Hold" and a consensus target price of $73.97. "(NYSE:TGT) Shares Sold by Pinnacle Associates Ltd." was originally reported by Enterprise Leader and is the sole property of of Enterprise Leader. If you are accessing this news story on another publication, it was illegally copied and reposted in violation of U.S. and worldwide trademark and copyright law. The legal version of this article can be viewed at https://www.dispatchtribunal.com/2018/03/07/moors-cabot-inc-has-731000-stake-in-target-co-tgt.html.

Traffic grew 3.2 percent in the fourth quarter, reflecting healthy increases in both stores and digital channels. It offers household essentials, including pharmacy, beauty, personal care, baby care, cleaning, and paper products; dry grocery, dairy, frozen food, beverages, candy, snacks, deli, bakery, meat, produce, and pet supplies; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.

Google accused of excluding Asians, whites for some positions
Ever since, it has faced mounting pressure to improve diversity at workplace, and leave Asian and White male candidates behind. When Lee filed a complaint with H.R.at the company's urging, she said that Google declined to investigate.

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