Target Corp. (TGT) Given New $85.00 Price Target at Buckingham Research
Several other brokerages also recently commented on TGT. Jefferies Group reiterated a hold rating and issued a $72.00 target price on shares of Target Corp. in a report on Thursday, August 18th. Zacks Investment Research downgraded shares of Target Corp. from a hold rating to a sell rating in a report on Tuesday, October 18th. Nomura set a $75.00 target price on shares of Target Corp. and gave the company a hold rating in a report on Friday, October 7th. Vetr downgraded shares of Target Corp. from a strong-buy rating to a buy rating and set a $74.42 target price for the company. in a report on Monday, September 19th. Finally, Edward Jones downgraded shares of Target Corp. from a buy rating to a hold rating in a report on Wednesday, August 17th. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $74.13.
Target Corp. (NYSE:TGT) traded down 0.03% during mid-day trading on Wednesday, reaching $76.01. 4,420,725 shares of the company’s stock were exchanged. Target Corp. has a 52-week low of $65.50 and a 52-week high of $84.14. The company has a 50-day moving average of $68.61 and a 200-day moving average of $70.75. The stock has a market cap of $43.69 billion, a price-to-earnings ratio of 14.07 and a beta of 0.59.
Target Corp. (NYSE:TGT) last announced its earnings results on Wednesday, November 16th. The retailer reported $1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.21. The company earned $16.44 billion during the quarter, compared to the consensus estimate of $16.30 billion. Target Corp. had a net margin of 4.59% and a return on equity of 23.59%. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.86 earnings per share. Equities research analysts anticipate that Target Corp. will post $4.94 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 10th. Stockholders 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 3.16%. The ex-dividend date is Monday, November 14th. Target Corp.’s payout ratio is currently 44.44%.
Several large investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA raised its stake in 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 during the last quarter. Dodge & Cox raised its stake in 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 during the last quarter. BlackRock Fund Advisors raised its stake in Target Corp. by 2.0% in the third quarter. BlackRock Fund Advisors now owns 8,348,981 shares of the retailer’s stock valued at $573,408,000 after buying an additional 165,621 shares during the last quarter. BlackRock Group LTD raised its stake in 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 during the last quarter. Finally, LSV Asset Management raised its stake in Target Corp. by 6.4% in the third quarter. LSV Asset Management now owns 4,849,168 shares of the retailer’s stock valued at $333,040,000 after buying an additional 292,180 shares during the last quarter. 84.41% of the stock is owned by hedge funds and other institutional investors.
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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