Target Corporation (NYSE:TGT) reported that it has started testing a video streaming service that has Netflix-like attributes.
The Target website declares the service, known Target Ticket beta, has 15,000 new releases, classic movies and next-day TV.
A Target spokesperson was not at once available for comment on the service, which was reported earlier by the Minneapolis Star Tribune.
With the service, Target is not simply taking on Netflix, Inc. (NASDAQ:NFLX) in the video streaming field, other than also Google Inc.’s (NASDAQ:GOOG) YouTube and Hulu, which is in cooperation owned by News Corp (NASDAQ:NWS), Walt Disney Co. (DIS) and Comcast Corp. (CMCSA). News Corp. as well owns Dow Jones & Co., publisher of The Wall Street Journal.
Shares of Target Corporation (NYSE:TGT) opened at $70.02 with 641.53 million outstanding shares and touch its highest price of $71.24 of the day and then finished at $71.06 by scoring +1.51%, as in the whole session stocks gain volume of 4.41 million shares which is higher than its average volume.
As the owner ship concerns stock institutional ownership remained 87.53% while insider ownership included 0.18%. The share capital of TGT has 641.53 million outstanding shares amid them 2.96 million shares have been floated in market.
For investors focus on the performance of the stocks so the TGT showed weekly ahead performance of 2.42% which was maintained for the month at 4.59%. Correspondingly the positive performance for the quarter was remained 15.75% and if took notice on yearly performance that was 31.93% whereas the year to date performance halted at 21.41%.
As the moving toward the returns measures returns on Investment ratio is significant measure which investor should have in consideration, the TGT return on investment was recorded as 9.02% as compare to its rivals has Dollar Tree, Inc. (NASDAQ:DLTR)’s ROI 32.40%, Dollar General Corp. (NYSE:DG)’s ROI 11.34%, Costco Wholesale Corporation (NASDAQ:COST)’s ROI 12.93%, Family Dollar Stores, Inc. (NYSE:FDO)’s ROI 18.58%.
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