Target (NYSE:TGT) Earns Buy Rating from Analysts at Truist

Research analysts at Truist began coverage on shares of Target (NYSE:TGT) in a report released on Thursday, The Fly reports. The brokerage set a “buy” rating on the retailer’s stock.

TGT has been the subject of several other research reports. Wells Fargo & Company cut Target from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $275.00 to $230.00 in a report on Thursday, January 6th. Zacks Investment Research cut Target from a “buy” rating to a “hold” rating and set a $276.00 target price for the company. in a report on Tuesday, October 26th. Deutsche Bank Aktiengesellschaft increased their target price on Target from $306.00 to $317.00 and gave the stock a “buy” rating in a report on Wednesday, November 10th. The Goldman Sachs Group increased their target price on Target from $281.00 to $308.00 and gave the stock a “buy” rating in a report on Tuesday, October 19th. Finally, Raymond James increased their target price on Target from $285.00 to $290.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Target has an average rating of “Buy” and a consensus price target of $260.29.

Shares of NYSE:TGT opened at $221.40 on Thursday. The business has a 50 day moving average price of $238.23 and a 200 day moving average price of $245.31. Target has a twelve month low of $166.82 and a twelve month high of $268.98. The company has a market cap of $106.08 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 1.18 and a beta of 1.00. The company has a quick ratio of 0.33, a current ratio of 0.97 and a debt-to-equity ratio of 0.84.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, November 17th. The retailer reported $3.03 EPS for the quarter, beating the consensus estimate of $2.83 by $0.20. The firm had revenue of $25.29 billion during the quarter, compared to analysts’ expectations of $24.60 billion. Target had a return on equity of 44.81% and a net margin of 6.56%. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.79 EPS. Analysts anticipate that Target will post 13.19 EPS for the current year.

In other Target news, insider Brian C. Cornell sold 30,000 shares of Target stock in a transaction dated Thursday, December 2nd. The stock was sold at an average price of $244.72, for a total transaction of $7,341,600.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John J. Mulligan sold 28,918 shares of Target stock in a transaction dated Friday, December 17th. The stock was sold at an average price of $223.60, for a total value of $6,466,064.80. The disclosure for this sale can be found here. Insiders sold a total of 66,277 shares of company stock worth $15,643,765 over the last 90 days. 0.29% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in shares of Target by 1.6% in the 3rd quarter. BlackRock Inc. now owns 41,153,523 shares of the retailer’s stock valued at $9,414,691,000 after purchasing an additional 637,721 shares during the period. Geode Capital Management LLC increased its position in shares of Target by 2.6% in the third quarter. Geode Capital Management LLC now owns 8,029,998 shares of the retailer’s stock valued at $1,832,484,000 after acquiring an additional 203,703 shares during the last quarter. Capital World Investors increased its position in shares of Target by 7.2% in the third quarter. Capital World Investors now owns 7,275,047 shares of the retailer’s stock valued at $1,664,313,000 after acquiring an additional 485,927 shares during the last quarter. GQG Partners LLC increased its position in shares of Target by 48.1% in the second quarter. GQG Partners LLC now owns 5,919,055 shares of the retailer’s stock valued at $1,430,396,000 after acquiring an additional 1,923,419 shares during the last quarter. Finally, Jennison Associates LLC increased its position in shares of Target by 3.8% in the second quarter. Jennison Associates LLC now owns 4,687,215 shares of the retailer’s stock valued at $1,133,087,000 after acquiring an additional 172,890 shares during the last quarter. 78.34% of the stock is currently owned by hedge funds and other institutional investors.

About Target

Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.

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