Target (TGT) Upgraded to Buy at ValuEngine
ValuEngine upgraded shares of Target (NYSE:TGT) from a hold rating to a buy rating in a report released on Friday morning.
A number of other brokerages have also weighed in on TGT. BidaskClub upgraded shares of Target from a hold rating to a buy rating in a report on Sunday, August 6th. Vetr lowered shares of Target from a buy rating to a hold rating and set a $59.67 price objective on the stock. in a report on Monday, August 7th. Zacks Investment Research lowered shares of Target from a buy rating to a hold rating in a research note on Monday, August 21st. BMO Capital Markets reiterated a market weight rating on shares of Target in a research note on Thursday, September 14th. Finally, Jefferies Group reiterated a hold rating on shares of Target in a research note on Friday, August 25th. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $63.25.
Shares of Target (NYSE TGT) traded down $0.39 on Friday, hitting $59.51. 8,317,171 shares of the stock were exchanged, compared to its average volume of 9,283,936. Target has a fifty-two week low of $48.56 and a fifty-two week high of $78.42. The firm has a market cap of $32,560.01, a price-to-earnings ratio of 12.48, a price-to-earnings-growth ratio of 7.41 and a beta of 0.64. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.96 and a quick ratio of 0.27.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders 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 yield of 4.17%. The ex-dividend date of this dividend is Tuesday, November 14th. Target’s payout ratio is currently 51.88%.
In other Target news, insider Hourigan Rice Jacqueline sold 4,679 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $59.37, for a total transaction of $277,792.23. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.25% of the company’s stock.
Several large investors have recently modified their holdings of TGT. BlackRock Inc. boosted its holdings in shares of Target 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 acquiring an additional 44,877,391 shares in the last quarter. Dodge & Cox boosted its holdings in shares of Target 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 acquiring an additional 9,102,526 shares in the last quarter. Capital Research Global Investors purchased a new stake in shares of Target in the second quarter valued at about $235,305,000. Franklin Resources Inc. boosted its holdings in shares of Target 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 acquiring an additional 1,686,774 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Target by 45.1% in the third quarter. American Century Companies Inc. now owns 5,238,106 shares of the retailer’s stock valued at $309,101,000 after acquiring an additional 1,629,222 shares in the last quarter. 87.26% of the stock is currently owned by institutional investors and hedge funds.
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Target 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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