Target Corporation (TGT) Downgraded by ValuEngine to “Hold”

ValuEngine cut shares of Target Corporation (NYSE:TGT) from a buy rating to a hold rating in a report issued on Friday, June 2nd.

TGT has been the subject of a number of other reports. Sanford C. Bernstein began coverage on Target Corporation in a research report on Monday, February 6th. They set an outperform rating and a $77.00 target price for the company. Buckingham Research reaffirmed a buy rating and set a $71.00 target price on shares of Target Corporation in a research report on Wednesday, April 19th. Barclays PLC dropped their price target on Target Corporation from $60.00 to $50.00 and set an underweight rating on the stock in a research note on Wednesday, March 1st. Zacks Investment Research upgraded Target Corporation from a sell rating to a hold rating in a research note on Monday, May 15th. Finally, Gordon Haskett started coverage on Target Corporation in a research note on Tuesday, May 9th. They issued a sell rating and a $47.00 target price on the stock. Seven equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $63.76.

Shares of Target Corporation (TGT) opened at 50.63 on Friday. Target Corporation has a 1-year low of $48.56 and a 1-year high of $79.33. The firm has a market capitalization of $27.93 billion, a P/E ratio of 10.38 and a beta of 0.58. The stock has a 50 day moving average of $55.56 and a 200-day moving average of $61.25.

Target Corporation (NYSE:TGT) last announced its earnings results on Wednesday, May 17th. The retailer reported $1.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.30. Target Corporation had a return on equity of 25.17% and a net margin of 4.02%. The firm had revenue of $16.02 billion during the quarter, compared to analysts’ expectations of $15.63 billion. During the same quarter in the previous year, the business earned $1.29 EPS. The company’s quarterly revenue was down 1.1% on a year-over-year basis. On average, equities analysts expect that Target Corporation will post $4.23 earnings per share for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Wednesday, August 16th will be paid a $0.62 dividend. The ex-dividend date is Monday, August 14th. This represents a $2.48 annualized dividend and a dividend yield of 4.90%. This is a positive change from Target Corporation’s previous quarterly dividend of $0.60. Target Corporation’s dividend payout ratio (DPR) is presently 48.98%.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sigma Planning Corp boosted its position in Target Corporation by 4.8% in the third quarter. Sigma Planning Corp now owns 14,765 shares of the retailer’s stock valued at $1,014,000 after buying an additional 678 shares during the period. Rikoon Group LLC bought a new position in Target Corporation during the third quarter valued at about $326,000. LSV Asset Management boosted its position in Target Corporation by 6.4% in the third quarter. LSV Asset Management now owns 4,849,168 shares of the retailer’s stock valued at $333,040,000 after buying an additional 292,180 shares during the period. Ifrah Financial Services Inc. bought a new position in Target Corporation during the third quarter valued at about $268,000. Finally, Bahl & Gaynor Inc. boosted its position in Target Corporation by 7.9% in the third quarter. Bahl & Gaynor Inc. now owns 1,743,805 shares of the retailer’s stock valued at $119,765,000 after buying an additional 128,311 shares during the period. Institutional investors and hedge funds own 83.00% of the company’s stock.

About Target Corporation

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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