Target Corp. (TGT) Stock Rating Reaffirmed by JPMorgan Chase & Co.
Target Corp. (NYSE:TGT)‘s stock had its “hold” rating reaffirmed by analysts at JPMorgan Chase & Co. in a report issued on Thursday. They presently have a $79.00 target price on the retailer’s stock. JPMorgan Chase & Co.’s price objective would suggest a potential upside of 3.69% from the company’s current price.
Several other analysts also recently commented on the stock. Piper Jaffray Cos. reaffirmed an “outperform” rating and set a $86.00 price objective on shares of Target Corp. in a research report on Monday, July 25th. Barclays PLC reiterated an “underweight” rating and issued a $60.00 target price on shares of Target Corp. in a report on Friday, September 16th. Vetr cut Target Corp. from a “strong-buy” rating to a “buy” rating and set a $77.55 target price on the stock. in a report on Monday, September 12th. Jefferies Group set a $72.00 target price on Target Corp. and gave the stock a “hold” rating in a report on Tuesday, October 4th. Finally, Goldman Sachs Group Inc. cut their target price on Target Corp. from $75.00 to $71.00 and set a “neutral” rating on the stock in a report on Thursday, August 18th. Three 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 company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $74.62.
Target Corp. (NYSE:TGT) opened at 76.19 on Thursday. Target Corp. has a one year low of $65.50 and a one year high of $84.14. The company’s 50-day moving average is $69.08 and its 200-day moving average is $70.76. The firm has a market capitalization of $43.79 billion, a P/E ratio of 14.10 and a beta of 0.59.
Target Corp. (NYSE:TGT) last announced its quarterly earnings data on Wednesday, November 16th. The retailer reported $1.04 EPS for the quarter, topping the 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 4.75% and a return on equity of 25.18%. The company’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.86 EPS. Equities analysts forecast that Target Corp. will post $5.16 earnings per share for the current fiscal 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. The ex-dividend date of this dividend is Monday, November 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.15%. Target Corp.’s dividend payout ratio (DPR) is presently 42.93%.
Several hedge funds have recently modified their holdings of the stock. Whalerock Point Partners LLC acquired a new stake in shares of Target Corp. during the third quarter worth about $4,044,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Target Corp. during the third quarter worth about $12,708,000. OLD Republic International Corp acquired a new stake in shares of Target Corp. during the third quarter worth about $13,446,000. Puzo Michael J increased its stake in shares of Target Corp. by 23.1% in the third quarter. Puzo Michael J now owns 13,890 shares of the retailer’s stock worth $954,000 after buying an additional 2,610 shares during the period. Finally, LPL Financial LLC increased its stake in shares of Target Corp. by 9.6% in the third quarter. LPL Financial LLC now owns 34,148 shares of the retailer’s stock worth $2,344,000 after buying an additional 2,996 shares during the period. Hedge funds and other institutional investors own 84.37% of the company’s stock.
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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