Target Stock (NYSE:TGT)
Target stock continued to struggle during the trading week on Friday. This week, the retailer’s stock has experienced a decline of more than 8%, which includes a decline of 1.7% today as of 2:15 p.m. Eastern Time.
Then what?
Yesterday, Target (NYSE:TGT) announced two critical pieces of news to the public. When the firm announced that it would begin providing bargains for the upcoming Christmas season earlier this year, some shareholders interpreted this announcement as a worrying indicator. This year, Target stock has been in the spotlight for rushing promotions to assist with an issue involving mismanaged inventory that occurred earlier in the year. Because of interruptions in the supply chain and fluctuating consumer mood, the company over-ordered items that proved unpopular once they were finally delivered. The announcement yesterday about early Christmas bargains may cause Target’s (NYSE:TGT) profit margins to continue to blow, despite the company’s efforts to streamline its inventory. But it’s possible that those investors who grew jittery because of the Christmas deal rumor responded too strongly.
What’s Next?
Target (NYSE:TGT) has announced that its Target Deal Days will begin on October 6 this year. However, that is just one week earlier than the previous year’s schedule. Therefore, the fact that the corporation is getting ready for a successful Christmas season a little early might be considered positive news.
Additionally, Target (NYSE:TGT) recently announced its quarterly dividend payment. Even though it did not result in an increase in the rate, this outcome was not anticipated. The most recent dividend payment was made in June, which increased by 20% then. Target stock shareholders with a longer-term investment horizon need to continue taking pleasure in the company’s dividend. The dividend yield was around 2.5% at the Target stock’s most recent price. Once the firm resolves its short-term inventory issue and gets back to producing more lucrative outcomes, you’ll have a great amount of passive income to collect in the meantime.
Featured Image- Megapixl @ Lester69
Author Shariq Khan 
