Soft Holiday Sales On The Cards? Target's Q4 Forecast Says So

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Target Corp's (TGT.N) profit forecast for the key holiday quarter fell short of analyst expectations, sending its shares down almost 10 percent, as the retailer continues to cut prices and invest in its delivery options to attract more customers.

As Target sticks closely to its "signature" categories in the home, apparel, baby and wellness space, much of its success has been found in its private label brands, including kids apparel line Cat & Jack, which raked in $2 billion in its first year on the market. Candriam Luxembourg S.C.A. now owns 356,752 shares of the retailer's stock worth $24,910,000 after buying an additional 131,395 shares during the last quarter. The stock's current RSI reading is at 47.22. For the past 5 days of trading, the stock has seen a move of 1.87%. Franklin Resources Inc. boosted its holdings in shares of Target Corporation by 8.7% during the second quarter. Parallel Advisors LLC now owns 2,072 shares of the retailer's stock valued at $117,000 after purchasing an additional 399 shares during the period. Davidson Investment Advisors now owns 2,559 shares of the retailer's stock valued at $141,000 after purchasing an additional 400 shares during the period.

A number of brokerages have weighed in on TGT. They set a "buy" rating and a $85.00 target price for the company. Vetr upgraded Target Corporation from a "hold" rating to a "buy" rating and set a $67.50 target price on the stock in a report on Monday.

Other hedge funds have also recently added to or reduced their stakes in the company.

Among 26 analysts covering Target Corporation (NYSE:TGT), 7 have Buy rating, 3 Sell and 16 Hold. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Target Corporation has an average rating of "Hold" and a consensus target price of $64.06.

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ILLEGAL ACTIVITY NOTICE: "Somewhat Favorable News Coverage Somewhat Unlikely to Affect Target Corporation (NYSE:TGT) Share Price" was published by TrueBlueTribune and is the property of of TrueBlueTribune. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Finally, Sandy Spring Bank increased its position in shares of Target Corporation by 6.7% during the 2nd quarter. Parallel Advisors LLC increased its position in shares of Target Corporation by 23.8% during the 2nd quarter. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.26 and a current ratio of 0.91. The company has market cap of $32.99 billion.

Target Corporation (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 16th.

The big-box retailer, however, reported better-than-expected sales, earnings and comps for the third quarter and also bumped up its full year earnings per share guidance.

Target Corp. had a return on equity of 25.18% and a net margin of 4.75%. The company guided fourth quarter adjusted earnings per share to $1.05 to $1.25. Sales rose 1.4 percent to $16.67 billion, higher than the average analyst estimate of $16.61 billion. Investors of record on Wednesday, February 15th will be paid a dividend of $0.60 per share. The ex-dividend date is Tuesday, November 14th. This represents a $2.40 dividend on an annualized basis and a yield of 3.67%. Target Corporation's dividend payout ratio is now 50.00%. Target Corporation (NYSE:TGT) has declined 16.51% since November 14, 2016 and is downtrending. If you are viewing this report on another website, it was copied illegally and republished in violation of United States and global copyright law. The Company sells a range of general merchandise and food through its store and digital channels.

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