Target Corp. (TGT) Price Target Raised to $84.00 at Telsey Advisory Group
Target Corp. (NYSE:TGT) had its price target increased by Telsey Advisory Group from $82.00 to $84.00 in a research note released on Thursday. The brokerage currently has an outperform rating on the retailer’s stock.
A number of other brokerages have also commented on TGT. Zacks Investment Research raised Target Corp. from a sell rating to a hold rating in a research note on Tuesday, July 26th. Buckingham Research lifted their price target on Target Corp. to $85.00 in a research note on Wednesday. Deutsche Bank AG lifted their price target on Target Corp. from $78.00 to $79.00 and gave the company a hold rating in a research note on Monday, August 15th. MKM Partners restated a neutral rating and set a $78.00 price objective (up from $73.00) on shares of Target Corp. in a research report on Tuesday, August 16th. Finally, Edward Jones downgraded Target Corp. from a buy rating to a hold rating in a research report on Wednesday, August 17th. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $74.13.
Shares of Target Corp. (NYSE:TGT) traded down 0.04% during mid-day trading on Thursday, hitting $76.10. The stock had a trading volume of 1,190,328 shares. The firm has a market capitalization of $43.74 billion, a PE ratio of 14.08 and a beta of 0.59. The stock’s 50-day moving average is $68.84 and its 200-day moving average is $70.79. Target Corp. has a 1-year low of $65.50 and a 1-year high of $84.14.
Target Corp. (NYSE:TGT) last announced its quarterly earnings results on Wednesday, November 16th. The retailer reported $1.04 EPS for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.21. Target Corp. had a return on equity of 25.18% and a net margin of 4.75%. The firm had revenue of $16.44 billion for the quarter, compared to analyst estimates of $16.30 billion. During the same period last year, the firm posted $0.86 earnings per share. The business’s revenue for the quarter was down 6.7% on a year-over-year basis. Equities analysts expect that Target Corp. will post $5.10 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders 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 3.15%. Target Corp.’s payout ratio is presently 42.93%.
Hedge funds have recently modified their holdings of 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 worth $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 worth $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 worth $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 worth $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 worth $333,040,000 after buying an additional 292,180 shares during the last quarter. Hedge funds and other institutional investors own 84.41% 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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