Nearly a year after its infamous security breach, Minneapolis-based
showing signs of bouncing back
. But now, more than a year later, there seems to be no doubt of
it. Happy days are here again.
Sales and earnings are up. Revenue is up. The stock price is higher
than it has ever been.
Target's P/E is 0, its Price/Book is 3.8 and its Price/Sales is
Actually, Target will be
laying off some workers this year,
the company confirmed, but that is being hailed as a needed
cost-cutting measure. Analysts have been raising Target earnings
estimates through the first three months of 2015.
If you have been to a Target store recently, you may have noticed
evidence of the chain's emphasis on style, especially for children
and infants but also for adults, and efforts to cash in on the
increasing interest in organic foods appear to make it a contender
for customers of its primary competitors,
Whole Foods Market
Guru Martin Whitman (Trades, Portfolio) sold 131,700 shares of his
stake in Target for an average price of $77.24 per share in
January. That was more than 14% higher than the price he paid for
them in the fourth quarter, but if he had waited until last Friday
to sell those same shares, he would have realized a profit of
better than 22%.
More Target insiders actively traded Target stock in March than in
any month since well before the breach.
Two Target directors, James Johnson and Roxanne S. Austin, sold
13,556 and 9,081 shares, respectively, in March, and seven
executive officers - Kathryn A. Tesija, Tina M. Tyler, Timothy R.
Baer, John J. Mulligan, Jeffrey J. Jones II, Carl L. Casey and Tina
M. Schiel - sold company stock as well.
Five gurus - Whitman, Joel Greenblatt (Trades, Portfolio), Dodge
& Cox, James Barrow (Trades, Portfolio) and Charles Brandes
(Trades, Portfolio) - continue to hold shares of Target in their
portfolios. Gurus Tom Gayner (Trades, Portfolio) and John Hussman
(Trades, Portfolio) sold their stakes in the fourth quarter.
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