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Target said on March 9, 2023 that its board of directors declared a regular
quarterly dividend of $1.08 per share ($4.32 annualized).
Previously, the company paid $1.08 per share.
Shares must be purchased before the ex-div date of May 16, 2023 to qualify for the dividend.
Shareholders of record as of May 17, 2023
will receive the payment on June 10, 2023.
At the current share price of $158.18 / share,
the stock’s dividend yield is 2.73%.
Looking back five years and taking a sample every week, the average dividend yield has been
2.36%,
the lowest has been 1.18%,
and the highest has been 4.16%.
The standard deviation of yields is 0.75 (n=237).
The current dividend yield is
0.49 standard deviations
above
the historical average.
Additionally, the company’s dividend payout ratio is 0.72.
The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0)
means 100% of the company’s income is paid in a dividend.
A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a
healthy situation.
Companies with few growth prospects are expected to pay out most of their income in dividends, which typically
means a payout ratio between 0.5 and 1.0.
Companies with good growth prospects are expected to retain some earnings in order to invest
in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.64%,
demonstrating that it has increased its dividend over time.
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Analyst Price Forecast Suggests 16.37% Upside
As of March 11, 2023,
the average one-year price target for Target is $184.08.
The forecasts range from a low of $156.55 to a high of $231.00.
The average price target represents an increase of 16.37% from its latest reported closing price of $158.18.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Target
is $109,473MM, an increase of 0.32%.
The projected annual non-GAAP EPS
is $5.58.
What is the Fund Sentiment?
There are 3043 funds or institutions reporting positions in Target.
This is a decrease
of
13
owner(s) or 0.43% in the last quarter.
Average portfolio weight of all funds dedicated to TGT is 0.35%,
a decrease
of 13.96%.
Total shares owned by institutions increased
in the last three months by 1.95% to 433,653K shares.
The put/call ratio of TGT is 1.01, indicating a
bearish
outlook.
What are Large Shareholders Doing?
Capital World Investors
holds 31,773K shares
representing 6.90% ownership of the company.
In it’s prior filing, the firm reported owning 17,320K shares, representing
an increase
of 45.49%.
The firm
increased
its portfolio allocation in TGT by 74.95% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 13,993K shares
representing 3.04% ownership of the company.
In it’s prior filing, the firm reported owning 13,725K shares, representing
an increase
of 1.92%.
The firm
decreased
its portfolio allocation in TGT by 5.43% over the last quarter.
Bank Of America
holds 11,770K shares
representing 2.56% ownership of the company.
In it’s prior filing, the firm reported owning 12,915K shares, representing
a decrease
of 9.73%.
The firm
decreased
its portfolio allocation in TGT by 12.77% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares
holds 10,640K shares
representing 2.31% ownership of the company.
In it’s prior filing, the firm reported owning 10,511K shares, representing
an increase
of 1.21%.
The firm
decreased
its portfolio allocation in TGT by 6.34% over the last quarter.
ABALX – AMERICAN BALANCED FUND
holds 9,838K shares
representing 2.14% ownership of the company.
In it’s prior filing, the firm reported owning 4,928K shares, representing
an increase
of 49.91%.
The firm
increased
its portfolio allocation in TGT by 87.82% over the last quarter.
Target Background Information
(This description is provided by the company.)
Minneapolis-based Target Corporation serves guests at nearly 1,900 stores and at Target.com. Since 1946, Target has given 5% of its profit to communities, which today equals millions of dollars a week.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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