Deutsche Bank AG reissued their hold rating on shares of Target Co. (NYSE:TGT) in a report published on Friday. They currently have a $59.00 price objective on the retailer’s stock, up from their prior price objective of $55.00.
Several other brokerages have also weighed in on TGT. Sanford C. Bernstein started coverage on Target in a report on Monday, February 6th. They set an outperform rating and a $77.00 price objective for the company. BTIG Research reissued a buy rating and set a $77.00 price objective (down from $85.00) on shares of Target in a report on Thursday, January 19th. Buckingham Research reissued a buy rating and set a $71.00 price objective on shares of Target in a report on Wednesday, April 19th. Barclays PLC reduced their price objective on Target from $60.00 to $50.00 and set an underweight rating for the company in a report on Wednesday, March 1st. Finally, Zacks Investment Research raised Target from a sell rating to a hold rating in a report on Monday, May 15th. Six equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company. Target presently has a consensus rating of Hold and an average price target of $65.49.
Shares of Target (NYSE:TGT) opened at 54.13 on Friday. Target has a 1-year low of $52.72 and a 1-year high of $79.33. The company has a 50-day moving average price of $55.22 and a 200 day moving average price of $63.93. The company has a market capitalization of $29.86 billion, a P/E ratio of 11.09 and a beta of 0.63.
Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, May 17th. The retailer reported $1.21 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.30. Target had a return on equity of 25.18% and a net margin of 4.75%. The business had revenue of $16.02 billion during the quarter, compared to analyst estimates of $15.63 billion. During the same period in the prior year, the company earned $1.29 earnings per share. Target’s revenue was down 1.1% compared to the same quarter last year. Equities research analysts anticipate that Target will post $4.22 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 10th. Investors of record on Wednesday, May 17th will be given a $0.60 dividend. The ex-dividend date of this dividend is Monday, May 15th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.43%. Target’s dividend payout ratio (DPR) is presently 42.93%.
In other news, Director Donald R. Knauss purchased 10,000 shares of the stock in a transaction on Thursday, March 9th. The shares were acquired at an average price of $54.86 per share, for a total transaction of $548,600.00. Following the completion of the transaction, the director now directly owns 16,431 shares of the company’s stock, valued at approximately $901,404.66. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Don H. Liu purchased 2,000 shares of the stock in a transaction on Thursday, March 2nd. The shares were purchased at an average price of $58.20 per share, for a total transaction of $116,400.00. The disclosure for this purchase can be found here. Insiders purchased 19,000 shares of company stock worth $1,073,750 in the last quarter. 0.25% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Cribstone Capital Management LLC increased its stake in Target by 114.2% in the first quarter. Cribstone Capital Management LLC now owns 1,906 shares of the retailer’s stock worth $101,000 after buying an additional 1,016 shares during the last quarter. First National Bank Sioux Falls increased its stake in Target by 18.5% in the third quarter. First National Bank Sioux Falls now owns 1,603 shares of the retailer’s stock worth $110,000 after buying an additional 250 shares during the last quarter. Reilly Financial Advisors LLC increased its stake in Target by 77.6% in the first quarter. Reilly Financial Advisors LLC now owns 2,000 shares of the retailer’s stock worth $110,000 after buying an additional 874 shares during the last quarter. Pinnacle Bank purchased a new stake in Target during the first quarter worth $123,000. Finally, Peoples Financial Services CORP. increased its stake in Target by 116.7% in the first quarter. Peoples Financial Services CORP. now owns 2,275 shares of the retailer’s stock worth $125,000 after buying an additional 1,225 shares during the last quarter. Institutional investors and hedge funds own 88.53% of the company’s stock.
Target Company Profile
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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