LONDON, UK / ACCESSWIRE / November 13, 2017 / Pro-Trader Daily takes a closer look at Target Corp. (NYSE: TGT) as the Company's stock will begin trading ex-dividend on November 14, 2017. In order to capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on November 13, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:

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Dividend Declared

On September 21, 2017, Target's Board of Directors declared a quarterly dividend of $0.62 per common share. The dividend is payable December 10, 2017, to shareholders of record at the close of business November 15, 2017.

Target's indicated dividend represents a yield of 4.14%, which is more than double compared to the average dividend yield for the Services sector of 2.02%. The 4th quarter dividend will be the Company's 201st consecutive dividend paid since October 1967 when Target became publicly held.

Dividend Insights

Target has a dividend payout ratio of 55.0%, which indicates that the Company distributes approximately $0.55 for every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.

According to analysts' estimates, Target is forecasted to report earnings of $4.40 for the next year, which is substantially above the Company's annualized dividend of $2.48 per share.

As of July 29, 2017, Target had cash and cash equivalents worth $2.29 billion compared to $2.51 billion as on January 28, 2017. Target's cash provided by operations for the six months ended July 29, 2017, was $2.92 billion compared to $1.49 billion in the year-ago same period. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.

Recent Development for Target

On October 23, 2017, Target announced the final results of its tender offers to purchase for cash any and all of its debt securities, which commenced on October 16, 2017, and expired at 5:00 p.m. New York City time on October 20, 2017.

Target has accepted for purchase $343.57 million aggregate principal amount of Notes validly tendered and not validly withdrawn prior to the Expiration Date. Global Bondholder Services Corporation, the tender and information agent for the Tender Offers has also advised that an additional $1.24 million of aggregate principal amount of Notes remain subject to guaranteed delivery procedures. Target will pay aggregate total consideration and accrued interest of approximately $469.53 million for the Notes accepted for purchase, excluding the Notes subject to guaranteed delivery procedures.

About Target

Target operates as a general merchandise retailer. It offers household essentials, including pharmacy, beauty, personal care, baby care, cleaning, and paper products; dry grocery, dairy, frozen food, beverages, candy, snacks, deli, bakery, meat, produce, and pet supplies; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes. Target sells products through its stores; and digital channels, including Target.com. As of September 13, 2017, the Company operated 1,816 stores in the United States. Target was founded in 1902 and is headquartered in Minneapolis, Minnesota.

Stock Performance

On Friday, November 10, 2017, the stock closed the trading session at $61.40, climbing 2.50% from its previous closing price of $59.90. A total volume of 6.85 million shares have exchanged hands, which was higher than the 3-month average volume of 6.64 million shares. Target's stock price advanced 2.01% in the last one month, 10.06% in the past three months, and 10.93% in the previous six months. The stock is trading at a PE ratio of 12.41 and has a dividend yield of 4.04%. The stock currently has a market cap of $33.73 billion.

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