Target Corp. (NYSE:TGT) Receives Consensus Recommendation of “Hold” from Brokerages
Target Corp. (NYSE:TGT) has received a consensus rating of “Hold” from the twenty-nine research firms that are currently covering the company. Two analysts have rated the stock with a sell recommendation, eighteen have assigned a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $73.97.
TGT has been the subject of several analyst reports. Vetr upgraded Target Corp. from a “hold” rating to a “buy” rating and set a $75.70 price objective for the company in a report on Monday, July 4th. Miller Tabak initiated coverage on Target Corp. in a report on Friday, July 29th. They issued a “buy” rating and a $87.00 price objective for the company. Citigroup Inc. restated a “buy” rating and issued a $80.00 price objective on shares of Target Corp. in a report on Thursday, August 18th. Brean Capital restated a “buy” rating and issued a $28.00 price objective on shares of Target Corp. in a report on Saturday. Finally, Zacks Investment Research upgraded Target Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, July 26th.
Several hedge funds have recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. boosted 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 in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Target Corp. by 13.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 13,035,746 shares of the retailer’s stock valued at $910,156,000 after buying an additional 1,545,167 shares in the last quarter. Dodge & Cox boosted its stake in shares of Target Corp. by 12.9% in the second quarter. Dodge & Cox now owns 11,757,005 shares of the retailer’s stock valued at $820,874,000 after buying an additional 1,341,678 shares in the last quarter. BlackRock Fund Advisors boosted its stake in shares of Target Corp. by 2.4% in the second quarter. BlackRock Fund Advisors now owns 8,183,360 shares of the retailer’s stock valued at $571,362,000 after buying an additional 189,882 shares in the last quarter. Finally, BlackRock Group LTD boosted its stake in shares of Target Corp. by 3.9% in the second quarter. BlackRock Group LTD now owns 6,339,423 shares of the retailer’s stock valued at $442,618,000 after buying an additional 236,371 shares in the last quarter. 86.18% of the stock is currently owned by institutional investors.
Target Corp. (NYSE:TGT) traded down 0.471% during trading on Monday, reaching $68.715. The company’s stock had a trading volume of 1,353,940 shares. 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 is $69.37 and its 200-day moving average is $73.44. The stock has a market cap of $39.50 billion, a P/E ratio of 12.716 and a beta of 0.68.
Target Corp. (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 17th. The retailer reported $1.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 prior year, the business earned $1.22 EPS. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. Equities research analysts forecast that Target Corp. will post $4.95 EPS for the current year.
The firm 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 $0.60 dividend. The ex-dividend date is Monday, November 14th. This represents a $2.40 annualized dividend and a dividend yield of 3.48%. Target Corp.’s dividend payout ratio is 44.44%.
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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