TGT - Target Corporation

NYSE - NYSE Delayed Price. Currency in USD
113.19
-0.49 (-0.43%)
At close: 4:04PM EDT

113.19 +0.04 (0.04%)
After hours: 5:50PM EDT

Stock chart is not supported by your current browser
Previous Close113.68
Open113.95
Bid113.10 x 800
Ask113.70 x 900
Day's Range113.06 - 114.83
52 Week Range60.15 - 114.83
Volume3,476,661
Avg. Volume5,383,466
Market Cap57.832B
Beta (3Y Monthly)0.62
PE Ratio (TTM)18.74
EPS (TTM)6.04
Earnings DateNov 20, 2019
Forward Dividend & Yield2.64 (2.32%)
Ex-Dividend Date2019-08-20
1y Target Est112.32
Trade prices are not sourced from all markets
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  • At the Highs, Walmart Stock Comes Down to Trust
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    The Walmart (NYSE:WMT) stock price has risen 28% so far in 2019, reaching a new all-time high. But the rally of Walmart stock doesn't yet seem justified by the performance of its business.Source: Ken Wolter / Shutterstock.com Indeed, Walmart's growth this fiscal year, even after it raised its guidance a few months ago, hardly looks impressive. The company expects its annual earnings per share, excluding certain items, to be little changed versus last year's EPS.Losses from India's Flipkart, in which Walmart acquired a majority stake last year, are hurting its bottom line. Excluding those losses, the company's post-Q2 outlook suggests "mid-to high single-digit percentage"growth of its EPS for the full year.InvestorPlace - Stock Market News, Stock Advice & Trading TipsStill, Walmart stock is trading at about 24 times that EPS guidance. That's the stock's highest earnings multiple in at least a decade. And it can be argued that 24 times earnings for 8% or so growth is too expensive. * 7 Reasons to Buy Canopy Growth Stock In fact, I've expressed some skepticism towards the current valuation of Walmart stock. And I still don't feel compelled to buy WMT stock. But the case for buying Walmart stock at $120 is stronger than its headline earnings multiples might suggest. Still, buying WMT stock at its current levels requires trust not only in the company, but in the American economy. WMT Has Become a Better CompanyThe bullish view of WMT stock is that Walmart simply is a much better company than it's been in years. Its grocery business has been re-energized, and clearly has taken market share from the likes of Kroger (NYSE:KR) and Albertsons. Kroger is guiding for same-sales growth excluding fuel this year of 2%-2.25%. Based on Walmart's outlook.its U.S. business should come in closer to 3% growth,Meanwhile, Walmart has moved heavily into e-commerce, both through acquisitions and by expanding its own online business. Walmart's Marketplace is becoming a serious rival to Amazon.com (NASDAQ:AMZN).And WMT seems to have finally cracked the code of the online grocery business, which had been a graveyard for capital going back to the failures of Webvan and Peapod in the beginning of the last decade.It's probably an exaggeration to call Walmart's efforts a turnaround. But it's easy to forget that Walmart's sales stagnated in the first half of this decade and so did the WMT stock price. The stock was dead money for about four years between 2013 and 2017. It's now risen 40% in the last two years, thanks to an accelerating top line and increasing confidence in its ability to grow its earnings going forward. The Story Sounds FamiliarWhat's interesting about Walmart stock at the moment is that its journey sounds similar to that of other U.S. large-cap consumer companies. McDonald's (NYSE:MCD) traded sideways from about 2012 through the end of 2015.Its future seemed at risk amidst the growth of "fast casual" competition and a focus on healthy eating. But CEO Steve Easterbrook, hired in early 2015, rolled out "all day breakfast", refranchised owned restaurants, and MCD stock doubled.Last year, Procter & Gamble (NYSE:PG) stock was unchanged versus early 2013. The external pressures on it seemed intense, as private-label products sold at the likes of Walmart and Kroger were hurting PG's results. Neither an aggressive cost-cutting plan nor a move to sell off smaller brands had worked. But P&G finally managed to accelerate its revenue growth to 5%, excluding acquisitions, in fiscal 2019. PG stock, too has soared. It gained a whopping 75% from its 2018 lows before its recent pullback.What we've seen is that if a U.S. large-cap company can convince the market that it is well-positioned, its stock is going to climb. And it's likely to move farther, and often faster, than fundamental analysis might suggest. The WMT Stock Price Is Partially Built on TrustIf that trend holds for Walmart stock, it can rise well above its current level. But that's a big "if" for two reasons.First, in terms of the other large-cap stocks, the obvious worry is that their valuations have gone too far. Like WMT stock, PG, for example, trades at 24 times its earnings, and it's modestly growing. The valuation of many "safe" stocks, including WMT stock, look potentially stretched.Second, Walmart's strategy has to pay off. The long-running worry about WMT stock has been that its e-commerce and omnichannel growth will be good for sales - but won't necessarily boost its profits.The ability of Target (NYSE:TGT) to deliver bottom-line growth after spending billions on its omnichannel business likely eases that fear. Still, an investor buying WMT stock at $120 has to believe that its e-commerce growth will add to its earnings and not just its top line. The Case for Walmart StockThat said, an investor reasonably could see both risks as overdone. As far as valuation goes, it's clear that long-term interest rate expectations have come down. If Walmart can grow its earnings even 6% per year, while the ten-year U.S. government bonds yield less than 2%, investors are going to pay for that growth. 24 times EPS for a company that's growing at 8% sounds high to those of us who have invested for decades. But it may no longer be high.As far as the concerns about its omnichannel business go, the rebuttal is simple: it's working. Walmart is a legitimate rival to Amazon. The latter company is valued at almost $900 billion, and perhaps close to $500 billion excluding its Amazon Web Services business. In that context, is the $337 billion market capitalization of Walmart stock too high? An investor could quite easily argue that it's too low.Still, an investor needs to have a lot of trust in WMT stock to buy its at its highs. She needs to trust the company's strategy and the market. If that trust is justified, there's a path for WMT to follow MCD, PG, and other stocks higher.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Reasons to Buy Canopy Growth Stock * 7 Restaurant Stocks to Leave on Your Plate * 4 Turnaround Plays to Buy Now The post At the Highs, Walmart Stock Comes Down to Trust appeared first on InvestorPlace.

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    Full disclosure: I've been an outspoken bear on shares of struggling home merchandise retailer Bed Bath & Beyond (NASDAQ:BBBY) for the better part of the past two years. See here, here and here. During that stretch, BBBY stock plummeted from above $40 to below $10.Source: Jonathan Weiss / Shutterstock.com More recently, however, I took off the bear hat, and sounded a bullish tone on Bed Bath & Beyond stock in early October 2019. The reason for the flip? The stock had fallen very far, very fast. And given the company's reasonable opportunity to stabilize sales and profits over the next few years, BBBY was just too cheap for its own good.Month-to-date, BBBY stock is up more than 20%. From their 52 week lows reached in August, shares are up more than 70% -- meaning that over the course of the past two months, BBBY stock has gone from big-time loser, to big-time winner.InvestorPlace - Stock Market News, Stock Advice & Trading TipsWill the winning persist? Or will shares get back to their losing streak soon?At this point, it's tough to say. Bed Bath & Beyond stock does have an opportunity to surge towards $20 in a hurry. At the same time, the stock could drop back to $10. The latter looks more likely than the former, at present, so I think this is a rally to sell. But, I also understand the bull thesis here, and wouldn't want to be stuck short the stock in the not-that-unlikely event that the bull thesis does materialize. Bed Bath & Beyond Stock Could Surge to $20The good news for bulls: Bed Bath and Beyond stock has a somewhat realistic pathway to a $20 price tag.Over the past several years, BBBY's sales, margins and profits have been eroded by intensifying competition and the lack of an appropriate response from management to that competition. Specifically, management didn't build out a great digital business, didn't develop robust multi-channel capabilities and didn't hone in on maximizing the uniqueness of the product assortment. Ultimately, they failed to convince consumers that they should go to Bed Bath & Beyond as opposed to Walmart (NYSE:WMT), Amazon (NASDAQ:AMZN) or Target (NYSE:TGT).That management team is gone. Now, there's a new sheriff in town. His name? Mark Tritton. His significance? He was the chief merchandising officer at Target, where he is credited as one of the key brains behind Target's enormously successful multi-channel retail transformation over the past few years.Quick history lesson. A few years back, Target was getting its butt kicked by Walmart and Amazon on multi-channel commerce. Tritton and company were tasked with ending this butt-kicking. They did that. Target has since gone from struggling retailer to retailer firing on all cylinders.Bulls are betting Tritton can lead a similar transformation at Bed Bath & Beyond. He has less resources than he had at Target, and Bed Bath & Beyond is in a far worse starting position. But, he could pull off some semblance of turnaround through an enhanced multi-channel strategy, which could lead to slight revenue growth and margin stabilization.If so, Bed Bath & Beyond could be on track to earn $3 in earnings per share by fiscal year 2025. Based on a historical 11-times forward earnings multiple and a 10% annual discount rate, that equates to a FY19 price target for BBBY stock of just over $20. It Could Also Fall Back Below $10The bad news for bulls: Bed Bath & Beyond stock is more likely to fall back below $10, than to rally to $20.What Tritton did at Target should not be underplayed. The multi-channel transformation that happened over there was impressive and should be a blueprint for retail success. But Bed Bath & Beyond is not Target, and there are certain secular challenges here which may prevent BBBY stock from staging a huge turnaround.Of note, Target has way more cash and cash flow to invest into developing multi-channel capabilities. Less cash and cash flow at Bed Bath & Beyond means less money pumped into multi-channel development, which means less robust multi-channel capabilities, which means lower consumer convenience. Ultimately, then, even if Bed Bath & Beyond does enhance its multi-channel game, that multi-channel game will still lag what Amazon, Walmart and Target offer.In that world, customers will continue to flow out of BBBY stores and into others. Sales will remain challenged. Margins will remain under pressure. Profits won't move higher.If profits don't move higher, BBBY stock won't move higher, either. Bottom Line on BBBY StockBulls have reason to be optimistic on BBBY stock following its huge rally off the lows over the past two months. But, such optimism may be misplaced, because Bed Bath & Beyond is still staring at secular challenges which don't project to go away anytime soon.The investment implication? I wouldn't chase the rally. I wouldn't short the stock, either. Let new management show what they can do, and then re-assess after the numbers arrive.As of this writing, Luke Lango was long AMZN. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Reasons to Buy Canopy Growth Stock * 7 Restaurant Stocks to Leave on Your Plate * 4 Turnaround Plays to Buy Now The post Could Bed Bath & Beyond Stock Power Toward $20? Maybe. appeared first on InvestorPlace.

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