Target Corporation (TGT) PT Lowered to $58.00
Target Corporation (NYSE:TGT) had its price objective lowered by Telsey Advisory Group from $60.00 to $58.00 in a research report sent to investors on Thursday morning, MarketBeat Ratings reports. The brokerage currently has an outperform rating on the retailer’s stock.
A number of other equities analysts have also recently issued reports on TGT. Vetr cut Target Corporation from a strong-buy rating to a buy rating and set a $60.28 price target on the stock. in a report on Thursday, July 20th. BidaskClub upgraded Target Corporation from a sell rating to a hold rating in a report on Monday, July 31st. MKM Partners restated a neutral rating on shares of Target Corporation in a report on Tuesday, August 15th. Gordon Haskett upgraded Target Corporation from a sell rating to a hold rating and increased their price target for the stock from $47.00 to $58.00 in a report on Wednesday, August 16th. Finally, BMO Capital Markets restated a market perform rating and set a $67.00 price target (up from $62.00) on shares of Target Corporation in a report on Friday, August 18th. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $63.17.
Shares of Target Corporation (TGT) opened at $58.14 on Thursday. The firm has a market cap of $31,623.12, a P/E ratio of 12.11, a price-to-earnings-growth ratio of 7.19 and a beta of 0.63. The company has a current ratio of 0.96, a quick ratio of 0.27 and a debt-to-equity ratio of 1.01. Target Corporation has a 52-week low of $48.56 and a 52-week high of $79.33.
Target Corporation (NYSE:TGT) last released its earnings results on Wednesday, November 15th. The retailer reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. The business had revenue of $16.67 billion during the quarter, compared to the consensus estimate of $16.61 billion. Target Corporation had a net margin of 3.80% and a return on equity of 24.09%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.04 EPS. equities research analysts forecast that Target Corporation will post 4.54 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.27%. The ex-dividend date is Tuesday, November 14th. Target Corporation’s dividend payout ratio is presently 51.88%.
In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $59.37, for a total transaction of $277,792.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in Target Corporation by 2,069.0% in the 1st quarter. BlackRock Inc. now owns 47,046,403 shares of the retailer’s stock worth $2,596,495,000 after acquiring an additional 44,877,391 shares during the last quarter. Dodge & Cox increased its holdings in Target Corporation by 83.3% in the 2nd quarter. Dodge & Cox now owns 20,025,223 shares of the retailer’s stock worth $1,047,119,000 after acquiring an additional 9,102,526 shares during the last quarter. Capital Research Global Investors purchased a new stake in Target Corporation in the 2nd quarter worth about $235,305,000. Franklin Resources Inc. increased its holdings in Target Corporation by 8.7% in the 2nd quarter. Franklin Resources Inc. now owns 21,112,915 shares of the retailer’s stock worth $1,103,994,000 after acquiring an additional 1,686,774 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Target Corporation by 45.1% in the 3rd quarter. American Century Companies Inc. now owns 5,238,106 shares of the retailer’s stock worth $309,101,000 after acquiring an additional 1,629,222 shares during the last quarter. 83.60% of the stock is owned by hedge funds and other institutional investors.
Target Corporation Company Profile
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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