Target Corporation (TGT) Upgraded to “Hold” at Gordon Haskett
Gordon Haskett upgraded shares of Target Corporation (NYSE:TGT) from a sell rating to a hold rating in a report issued on Wednesday. The brokerage currently has $58.00 target price on the retailer’s stock, up from their prior target price of $47.00.
TGT has been the topic of a number of other reports. BidaskClub cut shares of Target Corporation from a hold rating to a sell rating in a research note on Tuesday, June 20th. ValuEngine cut shares of Target Corporation from a buy rating to a hold rating in a research note on Friday, June 2nd. Vetr raised shares of Target Corporation from a hold rating to a buy rating and set a $61.86 price target on the stock in a research note on Wednesday, May 10th. Jefferies Group LLC reaffirmed a hold rating and set a $59.00 price target on shares of Target Corporation in a research note on Tuesday, June 20th. Finally, Zacks Investment Research raised shares of Target Corporation from a hold rating to a buy rating and set a $62.00 price target on the stock in a research note on Tuesday, June 6th. Five investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $62.37.
Shares of Target Corporation (TGT) traded down 0.613% during mid-day trading on Wednesday, reaching $55.965. 7,282,065 shares of the company were exchanged. The stock has a market capitalization of $30.88 billion, a P/E ratio of 11.468 and a beta of 0.61. Target Corporation has a 12 month low of $48.56 and a 12 month high of $79.33. The stock has a 50 day moving average price of $54.46 and a 200-day moving average price of $56.23.
Target Corporation (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.03. Target Corporation had a net margin of 4.02% and a return on equity of 25.17%. The business had revenue of $16.43 billion for the quarter, compared to analysts’ expectations of $16.30 billion. During the same period in the prior year, the company posted $1.23 EPS. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. Analysts predict that Target Corporation will post $4.39 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th will be issued a dividend of $0.62 per share. This is a positive change from Target Corporation’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a dividend yield of 4.40%. The ex-dividend date is Monday, August 14th. Target Corporation’s dividend payout ratio is presently 50.61%.
In other news, insider Robert M. Harrison sold 2,639 shares of the stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $52.05, for a total transaction of $137,359.95. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in TGT. BlackRock Inc. raised its position in shares of Target Corporation by 2,069.0% in the first quarter. BlackRock Inc. now owns 47,046,403 shares of the retailer’s stock valued at $2,596,495,000 after buying an additional 44,877,391 shares during the last quarter. Dodge & Cox raised its position in shares of Target Corporation by 83.3% in the second quarter. Dodge & Cox now owns 20,025,223 shares of the retailer’s stock valued at $1,047,119,000 after buying an additional 9,102,526 shares during the last quarter. Capital Research Global Investors bought a new position in shares of Target Corporation during the second quarter valued at $235,305,000. Franklin Resources Inc. raised its position in shares of Target Corporation by 8.7% in the second quarter. Franklin Resources Inc. now owns 21,112,915 shares of the retailer’s stock valued at $1,103,994,000 after buying an additional 1,686,774 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Target Corporation by 14.2% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 10,307,951 shares of the retailer’s stock valued at $568,896,000 after buying an additional 1,279,077 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.
About Target Corporation
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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