Retailers rally after Target gives surprisingly strong forecast

Target's Moving Bullseye Updated Guidance New Brands And CEO Confidence Boost Stock

Ladenburg Thalmann Financial Services Inc. boosted its stake in Target Corporation by 34.0% in the fourth quarter. GSA Capital Partners LLP now owns 39,022 shares of the retailer's stock worth $2,819,000 after buying an additional 17,048 shares during the period. BlackRock Inc. increased its position in shares of Target Corporation by 2,069.0% in the first quarter. OR now owns 8,962 shares of the retailer's stock worth $647,000 after buying an additional 2,907 shares during the period. Guyasuta Investment Advisors Inc. raised its stake in Target Corporation by 33.9% in the first quarter. 5,801,634 shares of the stock were exchanged. Focused Wealth Management Inc acquired a new stake in Target Corporation during the fourth quarter worth $166,000. Mn Services Vermogensbeheer B.V. now owns 14,231 shares of the retailer's stock valued at $734,000 after buying an additional 94 shares in the last quarter.

The tide seems to have turned in favor of Target Corporation (NYSE:TGT) as it experiences early success in its "multi-year effort" to bring back profitable long-term growth. Discount retailer Dollar Tree's shares rose 1.7 percent and Costco's stock was up 1 percent. Target Corporation has a 12 month low of $48.56 and a 12 month high of $79.33. There are brokerage firms with lower targets than the average, including one setting a price target of $44. Also, it has an estimated price-earnings (P/E) multiple of 0 and a trailing 12-month price-earnings (P/E) multiple of 0. This is an increase of approximately 296% compared to the typical daily volume of 9,682 call options.

Target is expected to report second-quarter results on August 16. After $0.66 actual earnings per share reported by Southern Co for the previous quarter, Wall Street now forecasts 6.06% EPS growth. The business had revenue of $16.02 billion during the quarter, compared to analyst estimates of $15.63 billion. The firm's quarterly revenue was down 1.1% compared to the same quarter past year.

Target now expects Q2 earnings per share to top its old range of 95 cents to $1.15. On average, analysts expect that Target Corporation will post $4.34 earnings per share for the current year. Stockholders of record on Wednesday, August 16th will be given a dividend of $0.62 per share.

"A return to positive comps in the second quarter after four quarters of declines is clearly a good sign", Quo Vadis Capital analyst John Zolidis said in a note. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.92%. Target Corporation's dividend payout ratio is now 48.98%.

Another Day Of Heat & Humidity
A few widely-spaced pulse-type storms will be possible today for a few folks but the coverage is expected to remain very low. We are about a half inch below average rainfall for the month, but we are still up for the year by about 3 inches.

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Sell-side analysts also have something to say about this TGT.

At time of publication, shares of Target were up roughly 3 percent on the day.

Target Corporation (NYSE:TGT) was downgraded by equities researchers at Vetr from a "strong-buy" rating to a "buy" rating in a research note issued on Friday.

The big-box retailer has been seen as straggling behind some of its peers, with Amazon snagging grocery chain Whole Foods and rival Wal-Mart beefing up its digital operations by buying and also acquiring smaller apparel brands like Bonobos and Modcloth.

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