Target Corp. (TGT) Upgraded at Vetr Inc.
Target Corp. (NYSE:TGT) was upgraded by research analysts at Vetr from a “sell” rating to a “hold” rating in a research note issued on Tuesday. The brokerage presently has a $68.37 price objective on the retailer’s stock. Vetr‘s price objective would suggest a potential downside of 0.45% from the company’s previous close.
A number of other analysts have also commented on TGT. BMO Capital Markets reissued a “market perform” rating and set a $76.00 price target on shares of Target Corp. in a research note on Wednesday, July 6th. Argus restated a “hold” rating on shares of Target Corp. in a research report on Thursday, July 7th. Piper Jaffray Cos. restated an “overweight” rating and set a $86.00 price objective on shares of Target Corp. in a research report on Thursday, July 7th. Zacks Investment Research downgraded Target Corp. from a “hold” rating to a “sell” rating in a research report on Friday, July 15th. Finally, Miller Tabak started coverage on Target Corp. in a research report on Friday, July 29th. They set a “buy” rating and a $87.00 price objective for the company. Two equities 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 stock. The company presently has an average rating of “Hold” and a consensus target price of $76.82.
Target Corp. (NYSE:TGT) opened at 68.68 on Tuesday. The firm 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 52-week low of $65.50 and a 52-week high of $84.14. The firm’s 50-day moving average price is $69.88 and its 200-day moving average price is $73.71.
Target Corp. (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 17th. The retailer reported $1.23 EPS for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.11. Target Corp. had a return on equity of 23.59% and a net margin of 4.59%. The firm had revenue of $16.20 billion for the quarter. During the same period in the previous year, the business posted $1.22 earnings per share. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. Equities research analysts expect that Target Corp. will post $4.95 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Wednesday, November 16th will be paid a dividend of $0.60 per share. 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 44.44%.
Several hedge funds have recently added to or reduced their stakes in TGT. Johanson Financial Advisors Inc. raised its stake in Target Corp. by 0.4% in the second quarter. Johanson Financial Advisors Inc. now owns 4,733 shares of the retailer’s stock worth $329,000 after buying an additional 17 shares during the last quarter. Jackson Grant Investment Advisers Inc. raised its position in shares of Target Corp. by 0.8% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 2,985 shares of the retailer’s stock worth $208,000 after buying an additional 24 shares in the last quarter. Loomis Sayles & Co. L P raised its position 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 worth $154,000 after buying an additional 42 shares in the last quarter. Patten & Patten Inc. TN raised its position in shares of Target Corp. by 1.2% in the second quarter. Patten & Patten Inc. TN now owns 3,518 shares of the retailer’s stock worth $246,000 after buying an additional 43 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. raised its position in shares of Target Corp. by 1.3% in the first quarter. Canandaigua National Bank & Trust Co. now owns 3,841 shares of the retailer’s stock worth $316,000 after buying an additional 50 shares in the last quarter. Institutional investors own 86.19% of the company’s stock.
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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