Target Corporation (NYSE:TGT) shares slipped another 1.6% on Thursday and have dropped more than
12.6% since the furor erupted a week ago Wednesday. That amounts to $9.3 billion
in market value.
Shares have fallen for six consecutive days over
that period, their longest losing streak since December 2022 and the worst
six-day stretch since the six days ending May 25, 2022, when shares fell
Why the Target Shares Weekly Options Trade was Executed?
Corporation (NYSE:TGT) is the most recent company to be dragged into the supposed "woke
war," currently rampaging across social media. Against the backdrop of a
trans-friendly Bud Light promotion and Disney's ongoing battle with right-wing
Florida Gov. Ron DeSantis, the recent rally against Target's selection of
LGBTQ+ merchandise could have the company worried.
on social media have criticized Target's exceptionally-inclusive line of LGBTQ+
clothing. The uproar mainly focuses on kids' clothes or swimsuits and
undergarments designed for transgender customers.
The Target Weekly Options Trade Explained.....
** OPTION TRADE: Buy TGT JUN
02 2023 145.000 PUTS - price at last close was $1.84 - adjust accordingly.
Obviously the results will vary from trader to trader
depending on entry cost and exit price that was undertaken.
Entered the TGT Weekly Options (PUT) Trade on Wednesday, May 24, 2023, at 9:33, for $2.77.
half the TGT weekly options contracts on Thursday, May 25, 2023, at 11:46, for $6.70; a potential profit of 142%.
Total Dollar Profit is $770
- $277 (cost of
contract) = $493
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"For more than a
decade, Target has offered an assortment of products aimed at celebrating Pride
Month," a company spokesperson said. "Since introducing this year’s collection,
we've experienced threats impacting our team members’ sense of safety and
well-being while at work. Given these volatile circumstances, we are making
adjustments to our plans, including removing items that have been at the center
of the most significant confrontational behaviour."
“Tuck friendly” women’s swimsuits, which allow trans women who have not
had gender-affirming operations to conceal their private parts, were among
Target's Pride items that garnered the most attention.
Adding fuel to the fire, the retailer's Gay
Pride collection has been linked to a controversial designer: Abprallen's Erik
Carnell, who is an outspoken Satanist whose brand features occult imagery and
messages like "Satan respects pronouns" on brand apparel, Fox News
Digital reported separately.
He is also known for aggressive messaging
and phrases, including "Burn down the cis-tem," which have been
featured on the website along with one that says "homophobe headrest"
with an image of a guillotine.
confrontations in Target stores are taking place as state legislatures
introduce a record number of bills targeting LGBTQ+ individuals across the
country. Some advocacy groups have criticized Target's response — calling on
the retailer to not back down to hate-filled backlash and reaffirm its support
with the LGBTQ+ community.
There are close to 500 anti-LGBTQ+ bills
that have gone before state legislatures since the start of this year, an
unprecedented number, according to the American Civil Liberties Union. Those
efforts focus on health, particularly gender-affirming health care for
transgender youth, and education. State legislatures are also pushing to
prevent discussions in school regarding sexuality and gender identity.
Original Catalysts for
the TGT Weekly Options
found itself in hot water again over its gay pride collection, this time
because of its partnership with a controversial designer.
retailer partnered with U.K.-based brand Abprallen to sell merchandise with
pro-LGBTQ messages to celebrate Pride month. A search on Target's website finds
some of the items.
company was already under a microscope over its "tuck-friendly"
swimsuits, some social media users were angered to discover that Abprallen's
designer Eric Carnell is also an outspoken Satanist whose brand features occult
imagery and messages like "Satan respects pronouns" on brand apparel.
Abprallen also sells merchandise
with aggressive messages attacking critics. Pins with the phrases
"heteronormativity is a plague," and "burn down the
cis-tem" are featured on the website along with one that says
"homophobe headrest" with an image of a guillotine.
Erik Carnell, the transgender
designer behind the brand, explained in an Instagram post that Satan represents
"passion, pride and liberty" and "loves all LGBT+ people."
The polarizing partnership caused an uproar from conservatives and
parents rights advocates on social media.
Abprallen is currently selling two products on Target's website, a
messenger bag that says "Too queer for here," and a sweatshirt that
says "Cure transphobia."
swimsuits boast "tuck-friendly construction" and "extra crotch
coverage," presumably to accommodate male genitalia, even if they are made
in an otherwise female style.
Less than a
week after the release of the podcast, Target women’s style swimsuits that
advertise "tuck-friendly construction" to hide male genitalia went
viral, angering some customers and igniting outrage online. In the days since,
customers have laid into the brand for its pride displays in stores across the
country, particularly the display of pride-themed children’s items and baby
onesies which have irked many customers.
Target Corp. has issued a recall on a massive amount of products.
A large recall was done over the popular baby swing the MamaRoo and
RockaRoo. The safety recall created a concern of the strap from the swing that
could cause entanglement and strangulation. 4moms, the maker of the MamaRoo and
RockaRoo, issued the recall after there was one death involving a 10-month-old
that died from asphyxiation from the strap, and another 10-month-old suffered
injuries from the strap.
giant issued another recall but from the home décor aisle this time. Target
sold about 4.9 million of Threshold Glass Jar Candles that pose a risk to the
consumer while the candle is lit. The glass jar has broken in some cases, which
caused lacerations and burns on the victims. Target has received at least 137
reports of the candle jar breaking while in use. Only six injuries have been
reported. Target reportedly sold these candles nationwide and through its
website starting back in August 2019 until March 2023.
KeyCorp cut their Q2 2024 EPS estimates for Target in a research report issued
on Wednesday, May 17th. KeyCorp analyst B. Thomas now anticipates that the
retailer will post earnings of $1.55 per share for the quarter, down from their
prior estimate of $2.22. The consensus estimate for Target’s current full-year
earnings is $8.26 per share.
posted its quarterly earnings data on Wednesday, May 17th. The retailer
reported $2.05 earnings per share (EPS) for the quarter, beating analysts’
consensus estimates of $1.76 by $0.29. Target had a net margin of 2.49% and a
return on equity of 24.49%. The company had revenue of $24.95 billion for the
quarter, compared to the consensus estimate of $25.28 billion. During the same
period last year, the company earned $2.19 earnings per share. The firm’s revenue
was up .5% compared to the same quarter last year.
MANAGEMENT Corp cut its holdings in shares of Target Co. (NYSE:TGT – Get
Rating) by 5.3% in the fourth quarter, according to its most recent filing with
the Securities and Exchange Commission. The firm owned 15,740 shares of the
retailer’s stock after selling 875 shares during the quarter. CHURCHILL
MANAGEMENT Corp’s holdings in Target were worth $2,346,000 at the end of the
most recent quarter.
other Target news, insider Brian C. Cornell sold 35,000 shares of the
business’s stock in a transaction on Tuesday, March 14th. The stock was sold at
an average price of $158.98, for a total value of $5,564,300.00.
Matthew A. Liegel sold 1,459 shares of the business’s stock in a transaction on
Thursday, May 18th. The stock was sold at an average price of $160.75, for a
total value of $234,534.25.
own 0.29% of the company’s stock.
According to the issued ratings of 29 analysts in the
last year, the consensus rating for Target stock is Moderate Buy based on the
current 12 hold ratings, 16 buy ratings and 1 strong buy rating for TGT. The
average twelve-month price prediction for Target is $181.69 with a high price
target of $220.00 and a low price target of $132.00.
compared Target to Bud Light, after the brand faced backlash for partnering
with transgender influencer Dylan Mulvaney.
campaign account for Rep. Nancy Mace, R-S.C., wrote, "Bud light: shocks
and insults their customers. Target: hold my beer."
reaction seemingly worried Target management, who took "emergency"
action Friday directing some managers and district senior directors to tamp
down the Pride sections in their stores over fears of re-creating a "Bud
fifty day simple moving average is $159.96 and its 200 day simple moving
average is $160.86. The company has a debt-to-equity ratio of 1.38, a current
ratio of 0.88 and a quick ratio of 0.18. The firm has a market cap of $70.01
billion, a price-to-earnings ratio of 25.88, and a P/E/G ratio of 1.20 and a
beta of 1.02. Target Co. has a one year low of $137.16 and a one year high of
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