Target Co. (TGT) Plans Quarterly Dividend of $0.64

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Target Co. (NYSE:TGT) declared a quarterly dividend on Thursday, January 10th, RTT News reports. Stockholders of record on Wednesday, February 20th will be paid a dividend of 0.64 per share by the retailer on Sunday, March 10th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.64%.

Target has increased its dividend by an average of 5.3% annually over the last three years and has raised its dividend annually for the last 51 consecutive years. Target has a payout ratio of 47.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Target to earn $5.60 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 45.7%.

Shares of TGT stock opened at $70.29 on Thursday. Target has a 1 year low of $60.15 and a 1 year high of $90.39. The company has a market cap of $34.67 billion, a PE ratio of 14.92, a P/E/G ratio of 2.06 and a beta of 0.72. The company has a current ratio of 0.83, a quick ratio of 0.13 and a debt-to-equity ratio of 1.10.

Target (NYSE:TGT) last announced its earnings results on Tuesday, November 20th. The retailer reported $1.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.02). Target had a return on equity of 25.02% and a net margin of 4.31%. The company had revenue of $17.59 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. Target’s revenue for the quarter was up 5.7% on a year-over-year basis. Research analysts predict that Target will post 5.39 EPS for the current year.

Several brokerages recently weighed in on TGT. BMO Capital Markets began coverage on shares of Target in a report on Monday, September 17th. They issued a “market perform” rating and a $88.00 price objective on the stock. Cowen upgraded shares of Target from a “market perform” rating to an “outperform” rating and set a $100.00 price objective on the stock in a report on Wednesday, November 7th. Citigroup cut their price objective on shares of Target from $84.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, December 3rd. Buckingham Research began coverage on shares of Target in a report on Thursday, November 15th. They issued a “buy” rating and a $102.00 price objective on the stock. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $86.00 price objective (down from $100.00) on shares of Target in a report on Monday. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $86.92.

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About Target

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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