Shares of Target Co. (NYSE:TGT) have been assigned an average rating of “Buy” from the twenty-five analysts that are covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $106.67.
Several analysts recently commented on the stock. Wells Fargo & Co upgraded shares of Target from a “market perform” rating to an “outperform” rating and set a $115.00 price objective for the company in a research note on Wednesday, August 21st. Buckingham Research reiterated a “buy” rating and issued a $117.00 price objective (up previously from $102.00) on shares of Target in a research note on Thursday, August 22nd. Cowen raised their price objective on shares of Target from $120.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Morgan Stanley raised their price objective on shares of Target from $76.00 to $107.00 and gave the company an “equal weight” rating in a research note on Thursday, August 22nd. Finally, Credit Suisse Group set a $112.00 target price on shares of Target and gave the stock a “buy” rating in a research report on Monday, September 23rd.
In other news, insider Don H. Liu sold 2,000 shares of Target stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $110.00, for a total transaction of $220,000.00. Following the completion of the sale, the insider now directly owns 39,890 shares in the company, valued at $4,387,900. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Don H. Liu sold 4,140 shares of Target stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $99.92, for a total transaction of $413,668.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,478 shares of company stock valued at $8,915,363. 0.24% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of TGT. First Citizens Bank & Trust Co. grew its holdings in Target by 0.3% in the second quarter. First Citizens Bank & Trust Co. now owns 38,132 shares of the retailer’s stock valued at $3,302,000 after purchasing an additional 115 shares during the period. Weiss Asset Management LP grew its holdings in Target by 4.6% in the second quarter. Weiss Asset Management LP now owns 2,788 shares of the retailer’s stock valued at $241,000 after purchasing an additional 123 shares during the period. Smith Shellnut Wilson LLC ADV grew its holdings in Target by 2.8% in the second quarter. Smith Shellnut Wilson LLC ADV now owns 4,522 shares of the retailer’s stock valued at $392,000 after purchasing an additional 125 shares during the period. Copperwynd Financial LLC grew its holdings in Target by 2.0% in the second quarter. Copperwynd Financial LLC now owns 6,563 shares of the retailer’s stock valued at $568,000 after purchasing an additional 126 shares during the period. Finally, Motco grew its holdings in Target by 24.0% in the second quarter. Motco now owns 688 shares of the retailer’s stock valued at $60,000 after purchasing an additional 133 shares during the period. Institutional investors and hedge funds own 81.80% of the company’s stock.
Shares of NYSE TGT opened at $111.83 on Monday. The company has a quick ratio of 0.21, a current ratio of 0.84 and a debt-to-equity ratio of 1.05. Target has a 52 week low of $60.15 and a 52 week high of $112.94. The firm has a 50-day moving average price of $107.43 and a 200 day moving average price of $88.92. The stock has a market capitalization of $56.39 billion, a price-to-earnings ratio of 20.75, a price-to-earnings-growth ratio of 2.54 and a beta of 0.54.
Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 21st. The retailer reported $1.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.21. Target had a net margin of 4.10% and a return on equity of 27.43%. The firm had revenue of $18.42 billion during the quarter, compared to analysts’ expectations of $18.32 billion. During the same quarter last year, the business earned $1.47 earnings per share. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities research analysts expect that Target will post 6.15 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Tuesday, November 19th. Target’s payout ratio is currently 48.98%.
Target declared that its Board of Directors has initiated a share repurchase program on Thursday, September 19th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the retailer to buy up to 9.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.
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