Target Corporation (TGT) Stock Rating Reaffirmed by Jefferies Group LLC
Target Corporation (NYSE:TGT)‘s stock had its “hold” rating restated by analysts at Jefferies Group LLC in a report issued on Friday.
Several other equities analysts also recently weighed in on TGT. Gordon Haskett initiated coverage on Target Corporation in a research report on Tuesday, May 9th. They set a “sell” rating and a $47.00 target price on the stock. Vetr downgraded Target Corporation from a “buy” rating to a “hold” rating and set a $59.51 target price on the stock. in a research report on Tuesday, May 9th. Zacks Investment Research raised Target Corporation from a “sell” rating to a “hold” rating in a research report on Monday, May 15th. Telsey Advisory Group boosted their target price on Target Corporation from $58.00 to $60.00 and gave the company a “market perform” rating in a research report on Thursday, May 18th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $59.00 target price (up previously from $55.00) on shares of Target Corporation in a research report on Friday, May 19th. Five equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $61.64.
Target Corporation (NYSE TGT) traded up 1.40% during midday trading on Friday, hitting $54.97. 717,181 shares of the stock were exchanged. The company has a market capitalization of $30.03 billion, a P/E ratio of 11.11 and a beta of 0.61. Target Corporation has a 1-year low of $48.56 and a 1-year high of $79.33. The company’s 50 day moving average is $55.01 and its 200 day moving average is $55.94. Target Corporation also was the recipient of some unusual options trading on Thursday. Stock traders acquired 27,938 put options on the stock. This is an increase of approximately 146% compared to the typical daily volume of 11,363 put options.
Target Corporation (NYSE:TGT) last released its earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.03. The firm had revenue of $16.43 billion for the quarter, compared to the consensus estimate of $16.30 billion. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.23 EPS. Analysts predict that Target Corporation will post $4.50 earnings per share for the current fiscal year.
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In other news, insider Robert M. Harrison sold 2,639 shares of the stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total value of $137,359.95. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.25% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp raised its position in shares of Target Corporation by 1.5% in the second quarter. State Street Corp now owns 51,944,505 shares of the retailer’s stock worth $2,716,176,000 after buying an additional 775,265 shares in the last quarter. 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 worth $2,596,495,000 after buying an additional 44,877,391 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Target Corporation by 0.4% in the second quarter. Vanguard Group Inc. now owns 37,154,396 shares of the retailer’s stock worth $1,942,803,000 after buying an additional 130,252 shares in the last quarter. 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 worth $1,103,994,000 after buying an additional 1,686,774 shares in the last quarter. Finally, 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 worth $1,047,119,000 after buying an additional 9,102,526 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors and hedge funds.
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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