Stifel Nicolaus restated their hold rating on shares of Target Corporation (NYSE:TGT) in a research report report published on Friday. The brokerage currently has a $60.00 target price on the retailer’s stock, up from their prior target price of $58.00.
Other equities research analysts have also issued research reports about the company. UBS AG reaffirmed a neutral rating and set a $56.00 price target (down previously from $60.00) on shares of Target Corporation in a research report on Tuesday, June 20th. Vetr lowered Target Corporation from a buy rating to a hold rating and set a $59.66 price target on the stock. in a research report on Monday, June 12th. BMO Capital Markets reaffirmed a market perform rating and set a $67.00 price target (up previously from $62.00) on shares of Target Corporation in a research report on Friday. Jefferies Group LLC reaffirmed a hold rating and set a $59.00 price target (up previously from $56.00) on shares of Target Corporation in a research report on Friday, May 19th. Finally, Citigroup Inc. lowered Target Corporation from a buy rating to a neutral rating and boosted their price target for the stock from $51.00 to $56.00 in a research report on Wednesday, June 21st. Five equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of Hold and an average target price of $61.64.
Shares of Target Corporation (NYSE TGT) opened at 56.56 on Friday. The firm has a 50 day moving average of $54.80 and a 200-day moving average of $56.00. Target Corporation has a 12 month low of $48.56 and a 12 month high of $79.33. The stock has a market capitalization of $30.89 billion, a P/E ratio of 11.43 and a beta of 0.61.
Target Corporation (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.03. The company had revenue of $16.43 billion for the quarter, compared to analyst estimates of $16.30 billion. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%. Target Corporation’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.23 earnings per share. Analysts forecast that Target Corporation will post $4.50 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th will be issued a dividend of $0.62 per share. The ex-dividend date is Monday, August 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.38%. This is a boost from Target Corporation’s previous quarterly dividend of $0.60. Target Corporation’s payout ratio is 50.00%.
In other Target Corporation news, insider Robert M. Harrison sold 2,639 shares of the company’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total value of $137,359.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in TGT. Cribstone Capital Management LLC raised its stake in Target Corporation 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 period. Reilly Financial Advisors LLC raised its stake in Target Corporation 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 period. Parallel Advisors LLC raised its stake in Target Corporation by 23.8% in the second quarter. Parallel Advisors LLC now owns 2,072 shares of the retailer’s stock worth $117,000 after buying an additional 399 shares during the period. Pinnacle Bank bought a new stake in Target Corporation during the first quarter worth approximately $123,000. Finally, Peoples Financial Services CORP. raised its stake in shares of Target Corporation by 116.7% in the first quarter. Peoples Financial Services CORP. now owns 2,275 shares of the retailer’s stock valued at $125,000 after buying an additional 1,225 shares during the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.
Target Corporation 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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