Target Board Approves New $15 Billion Share-Repurchase Program
August 18 2021 - 07:06AM
Dow Jones News
By Colin Kellaher
Target Corp. on Wednesday said its board approved a new $15
billion share-repurchase program.
The Minneapolis retailer, which has nearly 495 million shares
outstanding, has a market capitalization of roughly $130 billion
based on Tuesday's closing price of $254.65.
Target said it shelled out $1.5 billion during its fiscal second
quarter to buy back 6.6 million shares at an average price of
$233.81.
The company said that it still had about $1.8 billion of
capacity remaining under a $5 billion buyback program the board
approved in 2019, adding that it will begin repurchases under the
new authorization upon completion of the current program.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
August 18, 2021 07:01 ET (11:01 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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