Target Corp. (TGT) Given “Buy” Rating at Brean Capital
Several other brokerages also recently commented on TGT. Jefferies Group reaffirmed a hold rating and set a $72.00 target price on shares of Target Corp. in a report on Thursday, August 18th. Argus reissued a hold rating on shares of Target Corp. in a research note on Thursday, July 7th. Nomura set a $75.00 price objective on Target Corp. and gave the company a hold rating in a research note on Friday. Vetr downgraded Target Corp. from a strong-buy rating to a buy rating and set a $74.42 price objective on the stock. in a research note on Monday, September 19th. Finally, Edward Jones downgraded Target Corp. from a buy rating to a hold rating in a research note on Wednesday, August 17th. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $74.49.
Target Corp. (NYSE:TGT) opened at 69.04 on Friday. The company’s 50 day moving average price is $69.36 and its 200-day moving average price is $73.44. Target Corp. has a 12-month low of $65.50 and a 12-month high of $84.14. The company has a market capitalization of $39.68 billion, a P/E ratio of 12.78 and a beta of 0.68.
Target Corp. (NYSE:TGT) last announced its earnings results on Wednesday, August 17th. The retailer reported $1.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.11. The firm had revenue of $16.20 billion for the quarter. Target Corp. had a return on equity of 23.59% and a net margin of 4.59%. The firm’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.22 earnings per share. Equities analysts forecast that Target Corp. will post $4.95 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Wednesday, November 16th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend is Monday, November 14th. Target Corp.’s dividend payout ratio (DPR) is currently 44.44%.
Large investors have recently made changes to their positions in the stock. BlackRock Institutional Trust Company N.A. increased its stake in shares of Target Corp. by 3.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 17,687,488 shares of the retailer’s stock valued at $1,455,327,000 after buying an additional 603,599 shares during the period. BlackRock Fund Advisors increased its stake in shares of Target Corp. by 0.7% in the first quarter. BlackRock Fund Advisors now owns 7,993,478 shares of the retailer’s stock valued at $657,703,000 after buying an additional 54,257 shares during the period. Insight Capital Research & Management Inc. purchased a new stake in shares of Target Corp. during the first quarter valued at $3,636,000. BlackRock Group LTD increased its stake in shares of Target Corp. by 13.2% in the first quarter. BlackRock Group LTD now owns 6,103,052 shares of the retailer’s stock valued at $502,158,000 after buying an additional 710,847 shares during the period. Finally, BlackRock Inc. increased its stake in shares of Target Corp. by 7.5% in the first quarter. BlackRock Inc. now owns 1,855,725 shares of the retailer’s stock valued at $152,690,000 after buying an additional 129,227 shares during the period. 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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