Friday, June 19, 2009
Thursday, June 18, 2009
Divisive Battle Ends in Board Elections -
"Target’s Shareholders Strongly Reject Dissident Slate, Ending Divisive Proxy Battle"
by Zachery Kouwe
In one of the most contentious proxy battles in corporate history, William A. Ackman, the activist hedge fund manager, suffered a painful defeat on Thursday in his quest to install five nominees to the board of the retail giant Target.
According to preliminary tally, Target shareholders voted overwhelmingly in favor of the company’s four incumbent directors while also supporting a plan to cap its board seats at 12, defeating a proposal by Mr. Ackman to expand the board to 13 members.
Mr. Ackman, whose Pershing Square Capital Management owns 7.8 percent of Target through stock and options, failed to persuade his fellow shareholders that the company needed fresh blood in the boardroom to help it navigate the recession and compete against its main rival, Since beginning the proxy fight in March, Mr. Ackman has argued that Target’s current board lacked relevant experience in the real estate, retail and credit card business.
Mr. Ackman gave an impassioned five-minute speech on shareholder democracy at Target’s annual meeting on Thursday, invoking the Rev. Dr. Martin Luther King Jr. and John F. Kennedy as tears welled up in his eyes.
Target maintains that its stock has performed well over the long term and no board changes are needed.
The meeting, held at an unfinished store in Waukesha, Wis., was the end of one of the most notable and expensive boardroom contests in recent memory. It has added fuel to the continuing debate over how much influence big shareholders like Pershing should have over a company’s business strategy."
Taken from the New York Times online.
Today's Stock Price
$39.08 USD
by Zachery Kouwe
In one of the most contentious proxy battles in corporate history, William A. Ackman, the activist hedge fund manager, suffered a painful defeat on Thursday in his quest to install five nominees to the board of the retail giant Target.
According to preliminary tally, Target shareholders voted overwhelmingly in favor of the company’s four incumbent directors while also supporting a plan to cap its board seats at 12, defeating a proposal by Mr. Ackman to expand the board to 13 members.
Mr. Ackman, whose Pershing Square Capital Management owns 7.8 percent of Target through stock and options, failed to persuade his fellow shareholders that the company needed fresh blood in the boardroom to help it navigate the recession and compete against its main rival, Since beginning the proxy fight in March, Mr. Ackman has argued that Target’s current board lacked relevant experience in the real estate, retail and credit card business.
Mr. Ackman gave an impassioned five-minute speech on shareholder democracy at Target’s annual meeting on Thursday, invoking the Rev. Dr. Martin Luther King Jr. and John F. Kennedy as tears welled up in his eyes.
Target maintains that its stock has performed well over the long term and no board changes are needed.
The meeting, held at an unfinished store in Waukesha, Wis., was the end of one of the most notable and expensive boardroom contests in recent memory. It has added fuel to the continuing debate over how much influence big shareholders like Pershing should have over a company’s business strategy."
Taken from the New York Times online.
Today's Stock Price
$39.08 USD
Tuesday, June 16, 2009
Diversity at Target
Target has received several awards for Diversity. A few of them are as follows:
- DiversityInc named Target one of its “25 Noteworthy Companies for Diversity” – 2009
- Black College Magazine ranked Target 11th among the “Top 100 Employers of the Class of 2009” – 2009
- National Black MBA Association (NBMBAA) Twin Cities Chapter named Target Corporate Partner of the Year – 2007
A Message from the CEO
Diversity at Target isn’t a program or a campaign. It’s a core value that we integrate into every area of our business, 365 days a year. Diversity within a team or work group helps drive the innovative, thoughtfully debated ideas that will help us achieve our most important goal: delivering an exceptional shopping experience for our guests. Having a high-performing, diverse and passionate team isa business imperative, and fostering an inclusive culture is a crucial component of our vision for becoming the Best Company Ever.
Gregg SteinhafelChairman, President and CEO, Target
http://sites.target.com/site/en/company/page.jsp?contentId=WCMP04-031762Current Stock Price
As of 15 Jun 2009 $40.11USD
Price Change -0.27 Percent Change -0.67%
Monday, June 15, 2009
Target's Community Outreach
Target's Community Outreach
Target gives 5% of its income to communities - over $3 million every week!
- Education:
- Resources for Teachers
- Donations to Schools through "Take Charge of Education" proram
- Early Childhood Reading
- Book Festivals
- Educational Grants
- Arts & Culture
- Sponsor of Free Art Events
- Funding music, dance, theater & museum programs
- Social Services
- Target House
- American Red Cross
- The Salvation Army
- Feeding America
- United Way
- Target + BLUE
Stock Price
As of 12 Jun 2009 $40.38USD
Price Change +0.83 Percent Change +2.10%
As of 12 Jun 2009 $40.38USD
Price Change +0.83 Percent Change +2.10%
Friday, June 12, 2009
Target Announces 6% Increase in Quarterly Dividend
NEWS OF 6% DIVIDEND INCREASE
Jun 12, 2009 -- "The board of directors of Target Corporation on Thursday declared a quarterly dividend of USD0.17 per common share, a 6% increase over the prior quarterly rate of USD 0.16 per common share.
This increased dividend is payable on 10 September 2009 to shareholders of record on 20 August 2009. The company said that this third quarter dividend will be its 168th consecutive dividend paid since October 1967, when the company became publicly held."
http://www.tradingmarkets.com/.site/news/Stock%20News/2372178/
Stock Price
As of 11 Jun 2009 $39.55USD
Price Change -0.82 Percent Change -2.03%
Jun 12, 2009 -- "The board of directors of Target Corporation on Thursday declared a quarterly dividend of USD0.17 per common share, a 6% increase over the prior quarterly rate of USD 0.16 per common share.
This increased dividend is payable on 10 September 2009 to shareholders of record on 20 August 2009. The company said that this third quarter dividend will be its 168th consecutive dividend paid since October 1967, when the company became publicly held."
http://www.tradingmarkets.com/.site/news/Stock%20News/2372178/
Stock Price
As of 11 Jun 2009 $39.55USD
Price Change -0.82 Percent Change -2.03%
Thursday, June 11, 2009
Business Level Strategy
Business Level Strategy: Best Cost
"Great design is the essence of the Target brand. Target partners with world-class designers to offer amazing products at affordable prices. Since day one, our company founders recognized that the appeal of smart, stylish, well-designed products and stores would set Target apart. "
Design for All®
Great design is the essence of the Target brand. Target partners with world-class designers to offer amazing products at affordable prices.
Store Experience
Every Target store is designed to meet the same goal: Make every Target shopping trip an easy, enjoyable experience for every guest.
Innovations
Design is about more than just good looks. It’s about creating solutions that surprise and delight our guests.
On a Personal Note:
This strategy is why I love Target. They always have really fun and unique selections but reasonable prices. I will drive all the way to Clarksville just to shop at Target. I stop there on my way to and from the Nashville airport. Target has been my preferred shopping experience for several years running. I just wish they would come to Paducah or Murray!
When I think of successful best-cost strategy, Target is the first company that comes to mind.
http://sites.target.com/site/en/company/page.jsp?contentId=WCMP04-031760
Current Stock Price: $40.37 USD
"Great design is the essence of the Target brand. Target partners with world-class designers to offer amazing products at affordable prices. Since day one, our company founders recognized that the appeal of smart, stylish, well-designed products and stores would set Target apart. "
Design for All®
Great design is the essence of the Target brand. Target partners with world-class designers to offer amazing products at affordable prices.
Store Experience
Every Target store is designed to meet the same goal: Make every Target shopping trip an easy, enjoyable experience for every guest.
Innovations
Design is about more than just good looks. It’s about creating solutions that surprise and delight our guests.
On a Personal Note:
This strategy is why I love Target. They always have really fun and unique selections but reasonable prices. I will drive all the way to Clarksville just to shop at Target. I stop there on my way to and from the Nashville airport. Target has been my preferred shopping experience for several years running. I just wish they would come to Paducah or Murray!
When I think of successful best-cost strategy, Target is the first company that comes to mind.
http://sites.target.com/site/en/company/page.jsp?contentId=WCMP04-031760
Current Stock Price: $40.37 USD
Tuesday, June 9, 2009
Insiders on the Board of Directors
Gregg Steinhafel Chairman, Chief Executive Officer and President
Robert Ulrich Chairman Emeritus, Chairman of Executive Committee, Chairman of Target Stores Division and Chief Executive Officer of Target Stores Division
Other Board Members on Board of Directors*
Anne Mulcahy
Xerox Corp.
Stephen Sanger
General Mills Operations, Inc.
Solomon Trujillo
France Telecom
Roxanne Austin
Abbott Laboratories
James Johnson
ZymoGenetics, Inc.
Richard Kovacevich
Wells Fargo & Company
George Tamke
Servicemaster Co.
Calvin Darden
Coca-Cola Enterprises Inc.
Mary Minnick
Lion Capital LLP
Derica Rice
Eli Lilly & Co.
Mary Dillon
McDonald's Corp.
William Ackman
Gotham Partners Management Co., LLC
Michael Ashner
Winthrop Realty Trust, Inc.
James Donald
Plainbridge LLC
Ronald Gilson
Target Corp.
Richard Vague
Energy Plus Company
*Data is at least as current as the most recent Definitive Proxy. Taken from BusinessWeek.
http://investing.businessweek.com/businessweek/research/stocks/people/board.asp?ric=TGT
Monday, June 8, 2009
Target's Mascot "Bullseye"
Bullseye is a Minature Bull Terrier and trademark of the Target Brands, a subsidiary of Target Corporation. It has a pure white coat, and has Target Corporation's bullseye logo painted around its left eye. It is featured in Target's commercial campaigns and in store sale signing and is used in various marketing campaigns. Target also offers the dog as a stuffed toy for special events or employee recognition. The original Target dog was American Kennel Club CH Kingsmere Moondoggie, affectionately known as "Smudgie".
Friday, June 5, 2009
Key Financial Ratios
These ratios are simply a snapshot comparison to competitors. They do not show trends.
Profitability:
ROA Target: 4.9 Walmart: 8.34 Industry Avg. 1.87
ROE: Target: 14.99 Walmart: 21.13 Industry Avg. 4.67
Notes: Target's returns on assets and equity are well above the industry average and well below their top competitor.
Leverage:
LT Debt to Equity Target: 124.05 Walmart: 57.31 Industry: 90.27
Target is carrying a fair amount of debt in relationship to it's equity - well above the industry average and 2 times the amount of Walmart.
Liquidity:
Quick Ratio Target: 1.03 Walmart: 0.24 Industry Avg. 0.60
Current Ratio Target: 1.71 Walmart: 0.85 Industry Avg. 1.36
Target is liquid and carries a margin of safety above the industry average.
Current Stock Price
As of 4 Jun 2009 $40.95 USD
Price Change -0.02 Percent Change -0.05%
Profitability:
ROA Target: 4.9 Walmart: 8.34 Industry Avg. 1.87
ROE: Target: 14.99 Walmart: 21.13 Industry Avg. 4.67
Notes: Target's returns on assets and equity are well above the industry average and well below their top competitor.
Leverage:
LT Debt to Equity Target: 124.05 Walmart: 57.31 Industry: 90.27
Target is carrying a fair amount of debt in relationship to it's equity - well above the industry average and 2 times the amount of Walmart.
Liquidity:
Quick Ratio Target: 1.03 Walmart: 0.24 Industry Avg. 0.60
Current Ratio Target: 1.71 Walmart: 0.85 Industry Avg. 1.36
Target is liquid and carries a margin of safety above the industry average.
Current Stock Price
As of 4 Jun 2009 $40.95 USD
Price Change -0.02 Percent Change -0.05%
Thursday, June 4, 2009
You Tube Video on Target
I found a nice video on You Tube from Markets.com with an overview on Target Corporation from 2008. Click the following link to view the video:
Wednesday, June 3, 2009
Today's News: Partnership with DailyCandy
Today's News on Target: Partnership with DailyCandy
"Target Corp" is partnering with an online media company to spruce up a section of the retail giant’s Web site.
Target.com’s Red Hot Shop area this month started featuring products selected by editors at DailyCandy, the women’s fashion and lifestyle Web site owned by Philadelphia-based cable television giant Comcast Corp.
There is also artwork and editorial content from the DailyCandy team, publishes an e-mail newsletter that's distributed to an estimated 2.5 million subscribers, mostly female, in a dozen markets. It circulates heavily among the fashion-conscious set, making it a likely partner with Target, which has long emphasized its style and partnerships with well-known designers.
Under a deal struck with DailyCandy last year, the media site is leveraging its relationships with up-and-coming designers to create products exclusively for the Red Hot Shop. It also builds on a larger advertising deal in which Target is paying to advertise with DailyCandy.
Taken from http://www.bizjournals.com/twincities/stories/2009/06/01/daily30.html?jst=b_ln_hl
Current Stock Price
$40.97 USD
Price Change -0.31 Percent Change -0.75%
"Target Corp" is partnering with an online media company to spruce up a section of the retail giant’s Web site.
Target.com’s Red Hot Shop area this month started featuring products selected by editors at DailyCandy, the women’s fashion and lifestyle Web site owned by Philadelphia-based cable television giant Comcast Corp.
There is also artwork and editorial content from the DailyCandy team, publishes an e-mail newsletter that's distributed to an estimated 2.5 million subscribers, mostly female, in a dozen markets. It circulates heavily among the fashion-conscious set, making it a likely partner with Target, which has long emphasized its style and partnerships with well-known designers.
Under a deal struck with DailyCandy last year, the media site is leveraging its relationships with up-and-coming designers to create products exclusively for the Red Hot Shop. It also builds on a larger advertising deal in which Target is paying to advertise with DailyCandy.
Taken from http://www.bizjournals.com/twincities/stories/2009/06/01/daily30.html?jst=b_ln_hl
Current Stock Price
$40.97 USD
Price Change -0.31 Percent Change -0.75%
Tuesday, June 2, 2009
Target's Mission Statement
Target's Mission Statement, taken from the company website, is as follows:
Our mission is to make Target the preferred shopping destination for our guests by delivering outstanding value, continuous innovation and an exceptional guest experience by consistently fulfilling our Expect More. Pay Less.® brand promise.
To support our mission, we are guided by our commitments to great value, the community, diversity and the environment.
For more information on Target's core values, visit the company site:
http://sites.target.com/site/en/company/page.jsp?contentId=WCMP04-030795
Today's stock price:
As of 1 Jun 2009: $41.67 USD
Price Change +2.37; Percent Change +6.03%
Our mission is to make Target the preferred shopping destination for our guests by delivering outstanding value, continuous innovation and an exceptional guest experience by consistently fulfilling our Expect More. Pay Less.® brand promise.
To support our mission, we are guided by our commitments to great value, the community, diversity and the environment.
For more information on Target's core values, visit the company site:
http://sites.target.com/site/en/company/page.jsp?contentId=WCMP04-030795
Today's stock price:
As of 1 Jun 2009: $41.67 USD
Price Change +2.37; Percent Change +6.03%
Monday, June 1, 2009
Target's Stock Price
Today we will begin following Target Corporation's Stock price on the NYSE. I will make a short entry each weekday for the next 3 weeks tracking the stock's trends.
As of 29 May 2009 stock is selling for $39.30USD
Price Change from last week was+0.16, which is a Percent Change of +0.41%
In a 4-week period, stock is down -5.14%
In a 13 week period, stock is up +40.69%
In a 52 week period, stock is down -25.19%
YTD, Target stock is up +13.35%
Analysts predict that Target stock will outperform the industry average this year, making Target stock a good stock to hold.
As of 29 May 2009 stock is selling for $39.30USD
Price Change from last week was+0.16, which is a Percent Change of +0.41%
In a 4-week period, stock is down -5.14%
In a 13 week period, stock is up +40.69%
In a 52 week period, stock is down -25.19%
YTD, Target stock is up +13.35%
Analysts predict that Target stock will outperform the industry average this year, making Target stock a good stock to hold.
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