Target’s (TGT) “Market Perform” Rating Reaffirmed at Telsey Advisory Group

Target (NYSE:TGT)‘s stock had its “market perform” rating restated by equities research analysts at Telsey Advisory Group in a research note issued to investors on Thursday,Benzinga reports. They presently have a $110.00 price objective on the retailer’s stock. Telsey Advisory Group’s price objective points to a potential upside of 4.54% from the stock’s current price.

Other analysts also recently issued reports about the company. Barclays reiterated an “underweight” rating and set a $91.00 target price on shares of Target in a research report on Monday, July 21st. The Goldman Sachs Group decreased their price target on Target from $101.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, May 22nd. Cfra Research lowered Target from a “moderate buy” rating to a “hold” rating in a research report on Thursday, April 17th. Loop Capital set a $95.00 target price on Target in a research report on Thursday, July 17th. Finally, DA Davidson cut their price target on Target from $140.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, May 22nd. Three investment analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $115.81.

Target Trading Down 1.0%

NYSE:TGT opened at $105.22 on Thursday. Target has a 1-year low of $87.35 and a 1-year high of $167.40. The business’s 50-day moving average price is $101.44 and its two-hundred day moving average price is $105.64. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $47.81 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 3.05 and a beta of 1.22.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). The firm had revenue of $24.20 billion for the quarter, compared to the consensus estimate of $24.54 billion. Target had a return on equity of 25.59% and a net margin of 3.95%. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.03 earnings per share. On average, equities analysts expect that Target will post 8.69 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the sale, the insider owned 246,453 shares of the company’s stock, valued at approximately $23,703,849.54. The trade was a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Target

Several institutional investors and hedge funds have recently modified their holdings of TGT. Natixis increased its position in Target by 0.4% during the second quarter. Natixis now owns 47,187 shares of the retailer’s stock worth $4,655,000 after purchasing an additional 176 shares during the last quarter. Baker Avenue Asset Management LP grew its holdings in Target by 3.3% during the 2nd quarter. Baker Avenue Asset Management LP now owns 4,066 shares of the retailer’s stock valued at $401,000 after purchasing an additional 129 shares in the last quarter. California Public Employees Retirement System grew its holdings in Target by 96.1% during the 2nd quarter. California Public Employees Retirement System now owns 2,165,396 shares of the retailer’s stock valued at $213,616,000 after purchasing an additional 1,060,885 shares in the last quarter. Cary Street Partners Financial LLC boosted its stake in Target by 19.9% during the 2nd quarter. Cary Street Partners Financial LLC now owns 32,001 shares of the retailer’s stock valued at $3,157,000 after acquiring an additional 5,319 shares during the last quarter. Finally, Callodine Capital Management LP bought a new position in Target during the 2nd quarter valued at $1,973,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.