Target Corp. (TGT) Lowered to “Sell” at Vetr Inc.
Vetr cut shares of Target Corp. (NYSE:TGT) from a buy rating to a sell rating in a report published on Monday. They currently have $66.50 target price on the retailer’s stock.
Several other equities analysts have also recently commented on TGT. Guggenheim assumed coverage on shares of Target Corp. in a research note on Friday. They set a neutral rating for the company. Barclays PLC reiterated an underweight rating and set a $60.00 target price on shares of Target Corp. in a research note on Friday, September 23rd. Credit Suisse Group AG assumed coverage on shares of Target Corp. in a research note on Friday, September 16th. They set a neutral rating and a $65.00 target price for the company. Jefferies Group reiterated a hold rating on shares of Target Corp. in a research note on Monday, September 12th. Finally, Cowen and Company cut shares of Target Corp. from an outperform rating to a market perform rating and cut their target price for the company from $75.00 to $68.00 in a research note on Monday, September 12th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of $76.82.
Shares of Target Corp. (NYSE:TGT) opened at 68.68 on Monday. The stock has a market cap of $39.48 billion, a P/E ratio of 12.71 and a beta of 0.68. Target Corp. has a 1-year low of $65.50 and a 1-year high of $84.14. The company’s 50-day moving average is $69.88 and its 200 day moving average is $73.71.
Target Corp. (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 17th. The retailer reported $1.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.11. The business earned $16.20 billion during the quarter. Target Corp. had a net margin of 4.59% and a return on equity of 23.59%. Target Corp.’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.22 earnings per share. Equities research analysts anticipate that Target Corp. will post $4.95 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Stockholders of record on Wednesday, November 16th will be given a $0.60 dividend. The ex-dividend date of this dividend is Monday, November 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.49%. Target Corp.’s payout ratio is presently 44.44%.
Large investors have recently made changes to their positions in the stock. Park National Corp OH boosted its stake in shares of Target Corp. by 16.2% in the third quarter. Park National Corp OH now owns 244,219 shares of the retailer’s stock worth $16,773,000 after buying an additional 34,091 shares during the last quarter. Bath Savings Trust Co acquired a new stake in shares of Target Corp. during the third quarter worth about $221,000. Evercore Wealth Management LLC boosted its stake in shares of Target Corp. by 2.5% in the second quarter. Evercore Wealth Management LLC now owns 17,907 shares of the retailer’s stock worth $1,250,000 after buying an additional 441 shares during the last quarter. Macquarie Group Ltd. boosted its stake in shares of Target Corp. by 31.2% in the second quarter. Macquarie Group Ltd. now owns 119,971 shares of the retailer’s stock worth $8,376,000 after buying an additional 28,512 shares during the last quarter. Finally, Williams Jones & Associates LLC boosted its stake in shares of Target Corp. by 102.6% in the second quarter. Williams Jones & Associates LLC now owns 7,700 shares of the retailer’s stock worth $538,000 after buying an additional 3,900 shares during the last quarter. 86.19% of the stock is owned by institutional investors.
Target Corp. Company Profile
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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