Target Corp. (TGT) Now Covered by Analysts at Guggenheim
TGT has been the topic of a number of other reports. Cowen and Company restated an outperform rating and issued a $75.00 target price (down from $81.00) on shares of Target Corp. in a report on Wednesday, August 17th. Credit Suisse Group AG reaffirmed a hold rating and set a $72.00 price objective on shares of Target Corp. in a research note on Sunday, August 21st. Zacks Investment Research raised shares of Target Corp. from a sell rating to a hold rating in a research note on Tuesday, July 26th. BMO Capital Markets reaffirmed a market perform rating and set a $76.00 price objective on shares of Target Corp. in a research note on Wednesday, July 6th. Finally, Vetr raised shares of Target Corp. from a hold rating to a buy rating and set a $75.70 price objective for the company in a research note on Monday, July 4th. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $76.73.
Target Corp. (NYSE:TGT) traded up 0.36% during trading on Friday, hitting $68.93. 635,394 shares of the company were exchanged. The stock’s 50-day moving average is $70.09 and its 200-day moving average is $73.93. The company has a market capitalization of $39.62 billion, a price-to-earnings ratio of 12.76 and a beta of 0.68. Target Corp. has a 12 month low of $65.50 and a 12 month high of $84.14.
Target Corp. (NYSE:TGT) last released its earnings results on Wednesday, August 17th. The retailer reported $1.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.11. The company had revenue of $16.20 billion for the quarter. Target Corp. had a net margin of 4.59% and a return on equity of 23.59%. Target Corp.’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter last year, the company posted $1.22 earnings per share. Equities research analysts anticipate that Target Corp. will post $4.95 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders of record on Wednesday, November 16th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Monday, November 14th. Target Corp.’s dividend payout ratio is currently 44.44%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Ropes Wealth Advisors LLC increased its position in shares of Target Corp. by 9.1% in the second quarter. Ropes Wealth Advisors LLC now owns 1,527 shares of the retailer’s stock valued at $107,000 after buying an additional 127 shares in the last quarter. Arcadia Investment Management Corp MI raised its stake in shares of Target Corp. by 41.7% in the second quarter. Arcadia Investment Management Corp MI now owns 1,700 shares of the retailer’s stock valued at $119,000 after buying an additional 500 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in shares of Target Corp. by 1.9% in the second quarter. Loomis Sayles & Co. L P now owns 2,201 shares of the retailer’s stock valued at $154,000 after buying an additional 42 shares during the last quarter. Acrospire Investment Management LLC purchased a new stake in shares of Target Corp. during the first quarter valued at $165,000. Finally, Duncker Streett & Co. Inc. raised its stake in shares of Target Corp. by 4.4% in the second quarter. Duncker Streett & Co. Inc. now owns 2,370 shares of the retailer’s stock valued at $165,000 after buying an additional 100 shares during the last quarter. 86.19% of the stock is currently owned by institutional investors.
About Target Corp.
Target Corporation offers everyday essentials and merchandise to its customers. The Company sells a range of general merchandise and food through its store and digital channels. The Company’s general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items.
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