Gordon Haskett Upgrades Target Corporation (TGT) to “Hold”

Gordon Haskett upgraded shares of Target Corporation (NYSE:TGT) from a sell rating to a hold rating in a report issued on Wednesday morning, MarketBeat reports. Gordon Haskett currently has $58.00 price objective on the retailer’s stock, up from their previous price objective of $47.00.

Other analysts have also recently issued reports about the company. Zacks Investment Research upgraded Target Corporation from a hold rating to a buy rating and set a $62.00 price objective on the stock in a research report on Tuesday, June 6th. Vetr upgraded Target Corporation from a hold rating to a buy rating and set a $61.86 price objective on the stock in a research report on Wednesday, May 10th. Buckingham Research restated a buy rating and set a $71.00 price objective on shares of Target Corporation in a research report on Wednesday, April 19th. Finally, BidaskClub upgraded Target Corporation from a hold rating to a buy rating in a research report on Sunday, August 6th. Five research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $62.37.

Target Corporation (NYSE TGT) traded down 0.613% during mid-day trading on Wednesday, hitting $55.965. 7,282,065 shares of the stock were exchanged. Target Corporation has a one year low of $48.56 and a one year high of $79.33. The company has a market cap of $30.88 billion, a P/E ratio of 11.468 and a beta of 0.61. The company has a 50-day moving average price of $54.46 and a 200-day moving average price of $56.23.

Target Corporation (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.03. The company had revenue of $16.43 billion for the quarter, compared to the consensus estimate of $16.30 billion. Target Corporation had a return on equity of 25.17% and a net margin of 4.02%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.23 EPS. On average, analysts predict that Target Corporation will post $4.39 earnings per share for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.40%. The ex-dividend date is Monday, August 14th. This is a positive change from Target Corporation’s previous quarterly dividend of $0.60. Target Corporation’s dividend payout ratio is 50.61%.

In other news, insider Robert M. Harrison sold 2,639 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total transaction of $137,359.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Several institutional investors have recently modified their holdings of TGT. State Street Corp raised its position in shares of Target Corporation by 1.5% in the second quarter. State Street Corp now owns 51,944,505 shares of the retailer’s stock valued at $2,716,176,000 after buying an additional 775,265 shares during the period. BlackRock Inc. raised its position in shares of Target Corporation by 2,069.0% in the first quarter. BlackRock Inc. now owns 47,046,403 shares of the retailer’s stock valued at $2,596,495,000 after buying an additional 44,877,391 shares during the period. Vanguard Group Inc. raised its position in shares of Target Corporation by 0.4% in the second quarter. Vanguard Group Inc. now owns 37,154,396 shares of the retailer’s stock valued at $1,942,803,000 after buying an additional 130,252 shares during the period. Franklin Resources Inc. raised its position in shares of Target Corporation by 8.7% in the second quarter. Franklin Resources Inc. now owns 21,112,915 shares of the retailer’s stock valued at $1,103,994,000 after buying an additional 1,686,774 shares during the period. Finally, Dodge & Cox raised its position in shares of Target Corporation by 83.3% in the second quarter. Dodge & Cox now owns 20,025,223 shares of the retailer’s stock valued at $1,047,119,000 after buying an additional 9,102,526 shares during the period. 82.59% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Target Corporation (NYSE:TGT)

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