Nomura Analysts Give Target Corp. (TGT) a $75.00 Price Target
Target Corp. (NYSE:TGT) received a $75.00 price target from research analysts at Nomura in a note issued to investors on Friday. The brokerage presently has a a “hold” rating on the retailer’s stock. Nomura’s target price points to a potential upside of 9.63% from the company’s previous close.
Several other equities analysts have also commented on TGT. Credit Suisse Group AG assumed coverage on shares of Target Corp. in a report on Friday, September 16th. They issued a “neutral” rating and a $65.00 target price on the stock. MKM Partners reissued a “neutral” rating and issued a $78.00 target price (up from $73.00) on shares of Target Corp. in a report on Tuesday, August 16th. Vetr lowered shares of Target Corp. from a “buy” rating to a “hold” rating and set a $75.39 target price on the stock. in a report on Monday, July 11th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $86.00 target price on shares of Target Corp. in a report on Wednesday, August 17th. Finally, Argus reissued a “hold” rating on shares of Target Corp. in a report on Thursday, July 7th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $76.82.
Shares of Target Corp. (NYSE:TGT) traded up 0.928% during trading on Friday, hitting $69.045. 2,594,528 shares of the stock were exchanged. The firm has a 50 day moving average price of $69.40 and a 200 day moving average price of $73.53. Target Corp. has a 52 week low of $65.50 and a 52 week high of $84.14. The firm has a market capitalization of $39.69 billion, a P/E ratio of 12.777 and a beta of 0.68.
Target Corp. (NYSE:TGT) last released its earnings results on Wednesday, August 17th. The retailer reported $1.23 EPS for the quarter, beating the 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 period in the prior year, the business earned $1.22 earnings per share. Target Corp.’s quarterly revenue was down 7.2% compared to the same quarter last year. Analysts forecast that Target Corp. will post $4.95 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Stockholders of record on Wednesday, November 16th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, November 14th. This represents a $2.40 annualized dividend and a dividend yield of 3.51%. Target Corp.’s payout ratio is 44.44%.
Hedge funds have recently bought and sold shares of the company. Ropes Wealth Advisors LLC raised its stake in 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 during the last quarter. Arcadia Investment Management Corp MI raised its stake in 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. Acrospire Investment Management LLC purchased a new stake in Target Corp. during the first quarter valued at about $165,000. Loomis Sayles & Co. L P raised its stake in Target Corp. by 58.5% in the first quarter. Loomis Sayles & Co. L P now owns 2,159 shares of the retailer’s stock valued at $178,000 after buying an additional 797 shares during the last quarter. Finally, Duncker Streett & Co. Inc. raised its stake in 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. Hedge funds and other institutional investors own 86.19% of the company’s stock.
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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