Target Corporation (NYSE: TGT) announces a strategic partnership with Champion, bringing a reimagined Champion collection to stores and Target.com. The collection features over 500 items of premium activewear and sports gear for both adults and kids, blending Champion's heritage with modern, classic, and vintage styles.
Target and Williams-Sonoma have opposite stock reactions to their earnings reports, reflecting mixed signals for the retail industry.
Target's weak Q3 results and lowered FY24 outlook raise concerns over margins, inventory, and digital growth, with analysts expressing caution.
Target's Q3 miss, dragged by "unique challenges" and supply chain pressures, leads to a sharp drop in shares and a slashed FY24 earnings outlook.
Target investors and analysts could quickly shift their attention to the current fourth quarter, which includes the holiday shopping season.
Target currently offers a quarterly dividend amount of $1.12 per share. To earn $500 monthly, start with the yearly target of $6,000.
Target reported a first-quarter FY24 sales decline of 3.1% year-on-year to $24.531 billion, with comparable sales down 3.7%. Adjusted EPS was $2.03, missing the consensus estimate of $2.06. BofA Securities reiterated a Buy rating with a $190 price target. Telsey Advisory Group reiterated an Outperform rating with a $195 price target, highlighting outperformance in beauty and future market share gains.
Target shares fell as first-quarter FY24 adjusted EPS missed estimates. Despite a 3.1% year-on-year sales decline to $24.531 billion, exceeding expectations, comparable sales dropped 3.7%. Target forecasts FY24 adjusted EPS of $8.60 - $9.60 with a 0%-2% rise in comparable sales.
Target reports first-quarter financial results May 22. Investors and analysts may quickly turn their attention to the future with the company announcing price cuts.
Target said it will lower everyday regular prices on approximately 5,000 frequently shopped products. The retailer noted that it already reduced prices on about 1,500 items and plans to cut prices across thousands of others products over the course of the summer.
Walmart shares jumped more than 6% Thursday morning on the heels of the company's first-quarter financial results. The strength in Walmart shares Thursday morning is spilling into Target stock. Target is due to report its first-quarter financial results before the market open on May 22.
A whale with a lot of money to spend has taken a noticeably bearish stance on Target. Looking at options history for Target (NYSE:TGT) we detected 21 strange trades.
Target (NYSE:TGT) has observed the following analyst ratings within the last quarter:
A whale with a lot of money to spend has taken a noticeably bullish stance on Target. Looking at options history for Target (NYSE:TGT) we detected 23 strange trades.
A whale with a lot of money to spend has taken a noticeably bearish stance on Target. Looking at options history for Target (NYSE:TGT) we detected 11 strange trades.
Target (NYSE:TGT) has outperformed the market over the past 5 years by 20.92% on an annualized basis producing an average annual return of 32.75%. Currently, Target has a market capitalization of $107.37 billion.
A whale with a lot of money to spend has taken a noticeably bearish stance on Target. Looking at options history for Target (NYSE:TGT) we detected 10 strange trades.
