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TARGET CORPORATION

(TGT)
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Target, Microsoft, Oatly: Stocks That Defined the Week

05/21/2021 | 06:12pm EDT

By Francesca Fontana

Target Corp.

Shoppers are returning to physical stores and ready to spend. Target reported robust quarterly sales and a jump in store visits, maintaining momentum even as consumer buying habits change during the pandemic. Meanwhile, larger rival Walmart Inc. reported comparable sales rose 6% in its latest quarter, and Macy's Inc. reported a jump in quarterly sales and swung back to a profit from the year-ago period. Target shares gained 1.3% Thursday.

Microsoft Corp.

New details surrounding Bill Gates's departure from Microsoft's board last year have come to light. The Wall Street Journal reported on May 16 that some of the tech giant's board members decided that Mr. Gates needed to step down from its board in 2020, as they pursued an investigation into the billionaire's prior romantic relationship with a female employee that was deemed inappropriate. Members of the board tasked with the matter had hired a law firm to conduct an investigation in late 2019. Mr. Gates resigned before the investigation was completed and before the full board could make a formal decision on the matter. Microsoft shares lost 1.2% Monday.

AT&T Inc.

AT&T is unwinding its big bet on entertainment. The company reached a deal with Discovery Inc. to combine their media assets into a new, publicly traded company. AT&T's WarnerMedia owns cable channels such as HBO, CNN, TNT and TBS as well as the Warner Bros. television and film studio. Discovery has a portfolio that includes its namesake network and HGTV. Both companies also offer streaming video portals that compete with larger on-demand services like Netflix and Walt Disney Co. 's Disney+. The new business, which isn't yet named, will be led by current Discovery Chief Executive David Zaslav. AT&T dropped 2.7% Monday.

Alphabet Inc.

Google is opening its first-ever permanent retail store in New York City. The Alphabet unit's store will open this summer in Manhattan's Chelsea neighborhood as part of Google's existing campus there. It will sell items such as Google's Pixel phones, Nest smart thermostats and Fitbit wearable devices, the company said Thursday. The tech giant's store will also provide repair and troubleshooting services, and host workshops on using Google products.

Google has temporarily run pop-up shops in New York and Chicago in the past, but the Chelsea site would be its first permanent location. Alphabet shares rose 2.1% Thursday.

Oatly Group AB

Investors were thirsty for Oatly in its market debut. Shares of the Swedish oat-milk maker rose 19% in their first day of trading Thursday, giving the company a valuation of roughly $12 billion. Oatly entered the U.S. market in 2017 with its alternative dairy products, which are popular among consumers seeking healthier options that cause less impact on the environment. The company boasts the backing of famous investors including Oprah Winfrey and Natalie Portman, as well as private-equity behemoth Blackstone Group Inc. Companies going public at this time are making a risky bet, as choppy markets have proved challenging for several of late.

Carnival Corp.

Cruise lines are budgeting for extra costs as they prepare to set sail again. As they get ready to resume voyages out of the U.S., the companies expect to book a mix of one-time and recurring expenses for enhanced sanitation, Covid-19 testing and other measures. Cruise lines are vying to win back the public's trust after coronavirus outbreaks aboard ships last year brought sailings to a halt. Carnival, which operates nine brands, forecasts additional spending in the hundreds of millions of dollars as it prepares to resume voyages. The company sees costs needed to restart its ships as one-time expenses, while health protocol-related costs -- a separate class of outlays -- will depend on the duration for which they are needed. Carnival shares lost 0.5% Thursday.

JPMorgan Chase & Co.

JPMorgan Chase is putting two of the contenders to succeed Chief Executive Jamie Dimon in charge of its sprawling consumer-banking operation. The bank on Tuesday said Chief Executive Officer of Consumer Lending Marianne Lake and Chief Financial Officer Jennifer Piepszak are taking the reins of its consumer and community bank from Gordon Smith, who will retire at the end of the year. The move comes two years after Ms. Lake and Ms. Piepszak took their current roles, establishing them as front-runners to one day run America's biggest bank. The women will be in charge of a unit that serves half of all U.S. households and accounts for roughly 40% of the bank's profit, further cementing that status. JPMorgan shares fell 1.4% Tuesday.

Write to Francesca Fontana at francesca.fontana@wsj.com

(END) Dow Jones Newswires

05-21-21 2012ET

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. -0.77% 2694.53 Delayed Quote.53.74%
AT&T INC. -0.85% 28.05 Delayed Quote.-2.47%
CARNIVAL CORPORATION & PLC -4.67% 21.65 Delayed Quote.-0.05%
CLASS III MILK FUTURES (DC) - CMG (ELECTRONIC)/C1 0.00% 16.48 End-of-day quote.4.30%
CLASS IV MILK?FUTURES (GDK) - CMG (ELECTRONIC)/C1 0.13% 16.01 End-of-day quote.16.10%
DISCOVERY, INC. -3.88% 29.01 Delayed Quote.-3.59%
DJ INDUSTRIAL -0.42% 34935.47 Delayed Quote.14.63%
DRY WHEY?FUTURES (DY) - CMG (ELECTRONIC)/C1 0.08% 60 End-of-day quote.35.75%
JPMORGAN CHASE & CO. -0.80% 151.78 Delayed Quote.19.45%
MICROSOFT CORPORATION -0.56% 284.91 Delayed Quote.28.10%
NETFLIX, INC. 0.65% 517.57 Delayed Quote.-4.28%
NONFAT DRY MILK FUTURES (GNF) - CMG (ELECTRONIC)/C1 0.00% 125.7 End-of-day quote.11.34%
S&P 500 -0.54% 4395.26 Delayed Quote.17.65%
S&P GSCI CLASS III MILK (USD) 0.62% 124.2217 Delayed Quote.-6.46%
TARGET CORPORATION -0.23% 261.05 Delayed Quote.47.88%
THE BLACKSTONE GROUP INC. -1.23% 115.27 Delayed Quote.77.86%
WALMART INC. 0.22% 142.55 Delayed Quote.-1.11%
WALT DISNEY COMPANY (THE) -1.31% 176.02 Delayed Quote.-2.85%
All news about TARGET CORPORATION
07/29AMAZON COM : Pet food shortages leave owners on the hunt for kibble and cat trea..
RE
07/27TARGET : KeyBanc Adjusts Target's PT to $280 from $235, Keeps Overweight Rating
MT
07/26TARGET : Selfridges on sale as owners launch auction starting at £4bn
AQ
07/26TARGET : Announces Fall Collaboration with Author, Illustrator and Animator Chri..
PR
07/26Target Corporation Announces Fall Collaboration with Author, Illustrator and ..
CI
07/22Estee Lauder May See Increased Department-Store Exposure From Ulta-Target, Se..
MT
07/21TARGET : Ulta Beauty Set to Roll Out 'Shop-in-Shops' in August
MT
07/16WALGREENS BOOTS ALLIANCE : Target removes J&J sunscreens from stores, website
RE
07/16PART 4 OF 6 : Amendments To Hong Kong Data Protection Law To Regulate Data Proce..
AQ
07/15TARGET : Readies for Highly Anticipated Back-to-School and College Season
PR
More news
Financials (USD)
Sales 2022 102 B - -
Net income 2022 6 315 M - -
Net Debt 2022 5 319 M - -
P/E ratio 2022 20,8x
Yield 2022 1,10%
Capitalization 129 B 129 B -
EV / Sales 2022 1,32x
EV / Sales 2023 1,30x
Nbr of Employees 409 000
Free-Float 99,2%
Chart TARGET CORPORATION
Duration : Period :
Target Corporation Technical Analysis Chart | TGT | US87612E1064 | MarketScreener
Technical analysis trends TARGET CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 30
Last Close Price 261,05 $
Average target price 247,19 $
Spread / Average Target -5,31%
EPS Revisions
Managers and Directors
Brian C. Cornell Chairman & Chief Executive Officer
Michael J. Fiddelke Chief Financial Officer & Executive Vice President
Michael E. McNamara Chief Information Officer & Executive VP
Rich Agostino Chief Information Security Officer & Senior VP
John J. Mulligan Chief Operating Officer & Executive Vice President
Sector and Competitors
1st jan.Capi. (M$)
TARGET CORPORATION47.88%129 148
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WAL-MART DE MÉXICO, S.A.B. DE C.V.17.22%57 714
DOLLAR GENERAL CORPORATION10.62%54 951
BURLINGTON STORES, INC.28.01%22 199
DOLLARAMA INC.13.24%14 355