Target Corporation (NYSE:TGT) Increases Dividend to $1.16 Per Share

Target Corporation (NYSE:TGT) announced a quarterly dividend on Thursday, June 11th. Stockholders of record on Wednesday, August 12th will be given a dividend of 1.16 per share by the retailer on Tuesday, September 1st. This represents a c) annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Wednesday, August 12th. This is a 1.8% increase from Target’s previous quarterly dividend of $1.14.

Target has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 54 consecutive years. Target has a payout ratio of 55.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Target to earn $8.89 per share next year, which means the company should continue to be able to cover its $4.56 annual dividend with an expected future payout ratio of 51.3%.

Target Stock Performance

Shares of NYSE TGT traded up $4.61 during midday trading on Thursday, hitting $132.59. 4,532,089 shares of the company’s stock traded hands, compared to its average volume of 5,884,426. The firm has a fifty day moving average of $124.89 and a 200 day moving average of $113.02. The stock has a market capitalization of $60.22 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 2.47 and a beta of 1.00. Target has a 1 year low of $83.44 and a 1 year high of $133.10. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.30 and a current ratio of 0.93.

Target (NYSE:TGT) last released its earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.24. The company had revenue of $25.44 billion during the quarter, compared to analyst estimates of $24.66 billion. Target had a net margin of 3.24% and a return on equity of 22.92%. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.30 EPS. Target has set its FY 2026 guidance at 7.500-8.500 EPS. On average, analysts forecast that Target will post 8.35 earnings per share for the current year.

About Target

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.