Target Corp. (TGT) Given a $72.00 Price Target at Jefferies Group
Target Corp. (NYSE:TGT) has been assigned a $72.00 target price by analysts at Jefferies Group in a research report issued to clients and investors on Tuesday. The brokerage presently has a a “hold” rating on the retailer’s stock. Jefferies Group’s price objective would indicate a potential upside of 4.88% from the company’s current price.
TGT has been the topic of a number of other research reports. Cowen and Company restated an “outperform” rating and set a $75.00 target price (down previously from $81.00) on shares of Target Corp. in a research report on Wednesday, August 17th. Vetr lowered shares of Target Corp. from a “buy” rating to a “sell” rating and set a $66.50 target price on the stock. in a research report on Monday. Credit Suisse Group AG restated a “hold” rating and set a $72.00 target price on shares of Target Corp. in a research report on Sunday, August 21st. Zacks Investment Research upgraded shares of Target Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $76.00 price target on shares of Target Corp. in a research report on Wednesday, July 6th. 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’s stock. Target Corp. has an average rating of “Hold” and a consensus target price of $76.82.
Target Corp. (NYSE:TGT) traded down 0.96% on Tuesday, reaching $67.99. 2,615,534 shares of the company traded hands. Target Corp. has a 52-week low of $65.50 and a 52-week high of $84.14. The stock has a 50-day moving average of $69.69 and a 200 day moving average of $73.61. The company has a market capitalization of $39.08 billion, a PE ratio of 12.58 and a beta of 0.68.
Target Corp. (NYSE:TGT) last announced its earnings results on Wednesday, August 17th. The retailer reported $1.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.11. Target Corp. had a net margin of 4.59% and a return on equity of 23.59%. The firm had revenue of $16.20 billion for the quarter. During the same quarter in the previous year, the company earned $1.22 EPS. The business’s revenue for the quarter was down 7.2% on a year-over-year basis. On average, equities analysts forecast 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. 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 3.50%. The ex-dividend date of this dividend is Monday, November 14th. Target Corp.’s dividend payout ratio is 44.44%.
A number of hedge funds have recently made changes to their positions in TGT. New England Research & Management Inc. raised its stake in shares of Target Corp. by 128.4% in the third quarter. New England Research & Management Inc. now owns 10,050 shares of the retailer’s stock valued at $690,000 after buying an additional 5,650 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in shares of Target Corp. by 6.6% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 809,825 shares of the retailer’s stock valued at $55,619,000 after buying an additional 50,298 shares in the last quarter. Curbstone Financial Management Corp raised its stake in shares of Target Corp. by 6.6% in the third quarter. Curbstone Financial Management Corp now owns 13,676 shares of the retailer’s stock valued at $939,000 after buying an additional 850 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Target Corp. by 19.0% in the third quarter. BNP Paribas Arbitrage SA now owns 161,571 shares of the retailer’s stock valued at $11,097,000 after buying an additional 25,740 shares in the last quarter. Finally, Eqis Capital Management Inc. bought a new stake in shares of Target Corp. during the third quarter valued at approximately $223,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.
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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