Target Corp. (TGT) Rating Lowered to Sell at Vetr Inc.
Target Corp. (NYSE:TGT) was downgraded by equities researchers at Vetr from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday. They currently have a $68.64 price objective on the retailer’s stock. Vetr‘s price target would suggest a potential downside of 9.70% from the stock’s previous close.
Several other brokerages also recently commented on TGT. Piper Jaffray Cos. reaffirmed an “outperform” rating and issued a $86.00 target price on shares of Target Corp. in a research note on Monday, July 25th. Zacks Investment Research raised shares of Target Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 26th. Miller Tabak started coverage on shares of Target Corp. in a research note on Friday, July 29th. They issued a “buy” rating and a $87.00 target price on the stock. Nomura set a $75.00 target price on shares of Target Corp. and gave the stock a “hold” rating in a research note on Thursday, August 11th. Finally, Jefferies Group reaffirmed an “in-line” rating and issued a $72.00 target price on shares of Target Corp. in a research note on Friday, August 12th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $74.08.
Target Corp. (NYSE:TGT) opened at 76.03 on Tuesday. The company has a market capitalization of $43.70 billion, a price-to-earnings ratio of 14.07 and a beta of 0.59. Target Corp. has a 1-year low of $65.50 and a 1-year high of $84.14. The firm has a 50 day moving average of $68.61 and a 200-day moving average of $70.75.
Target Corp. (NYSE:TGT) last announced its quarterly earnings data on Wednesday, November 16th. The retailer reported $1.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.21. The firm earned $16.44 billion during the quarter, compared to analyst estimates of $16.30 billion. Target Corp. had a net margin of 4.59% and a return on equity of 23.59%. The business’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 EPS. On average, equities research analysts anticipate that Target Corp. will post $4.94 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders 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 yield of 3.16%. The ex-dividend date is Monday, November 14th. Target Corp.’s payout ratio is 44.44%.
A number of institutional investors have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its position 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 increased 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 worth $820,874,000 after buying an additional 1,341,678 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Target Corp. by 2.0% in the third quarter. BlackRock Fund Advisors now owns 8,348,981 shares of the retailer’s stock worth $573,408,000 after buying an additional 165,621 shares in the last quarter. BlackRock Group LTD increased 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 worth $442,618,000 after buying an additional 236,371 shares in the last quarter. Finally, LSV Asset Management increased its stake in shares of Target Corp. by 6.4% in the third quarter. LSV Asset Management now owns 4,849,168 shares of the retailer’s stock worth $333,040,000 after buying an additional 292,180 shares in the last quarter. 84.41% 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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