Target (NYSE:TGT) PT Raised to $185.00

Target (NYSE:TGT) had its price objective lifted by Evercore ISI from $180.00 to $185.00 in a report released on Tuesday morning, Benzinga reports. They currently have an in-line rating on the retailer’s stock.

A number of other research firms also recently issued reports on TGT. Roth Mkm boosted their price target on Target from $140.00 to $153.00 and gave the company a neutral rating in a research report on Wednesday, March 6th. Guggenheim boosted their price target on Target from $160.00 to $190.00 and gave the company a buy rating in a research report on Wednesday, March 6th. The Goldman Sachs Group boosted their price target on Target from $176.00 to $194.00 and gave the company a buy rating in a research report on Wednesday, March 6th. Deutsche Bank Aktiengesellschaft raised Target from a hold rating to a buy rating and boosted their price target for the company from $149.00 to $206.00 in a research report on Wednesday, March 6th. Finally, Morgan Stanley upped their target price on Target from $165.00 to $190.00 and gave the stock an overweight rating in a research report on Wednesday, March 6th. Eleven research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $179.73.

Target Price Performance

Shares of NYSE:TGT opened at $177.21 on Tuesday. The company has a market cap of $81.82 billion, a P/E ratio of 19.84, a P/E/G ratio of 1.64 and a beta of 1.13. The company has a quick ratio of 0.29, a current ratio of 0.91 and a debt-to-equity ratio of 1.11. Target has a 52 week low of $102.93 and a 52 week high of $177.40. The business has a fifty day simple moving average of $154.74 and a 200-day simple moving average of $134.94.

Target (NYSE:TGT) last announced its quarterly earnings data on Tuesday, March 5th. The retailer reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.57. The business had revenue of $31.47 billion during the quarter, compared to the consensus estimate of $31.83 billion. Target had a return on equity of 33.41% and a net margin of 3.85%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.89 earnings per share. Equities research analysts forecast that Target will post 9.39 EPS for the current year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.48%. The ex-dividend date is Tuesday, May 14th. Target’s payout ratio is currently 49.27%.

Insider Buying and Selling at Target

In other Target news, insider Melissa K. Kremer sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $165.05, for a total transaction of $495,150.00. Following the sale, the insider now owns 30,527 shares in the company, valued at $5,038,481.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Melissa K. Kremer sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $165.05, for a total transaction of $495,150.00. Following the completion of the transaction, the insider now directly owns 30,527 shares of the company’s stock, valued at $5,038,481.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $167.52, for a total value of $7,538,400.00. Following the transaction, the insider now directly owns 346,919 shares of the company’s stock, valued at $58,115,870.88. The disclosure for this sale can be found here. Insiders have sold 52,600 shares of company stock worth $8,819,598 over the last quarter. 0.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Target

Several institutional investors have recently made changes to their positions in the stock. Tower View Wealth Management LLC grew its holdings in Target by 82.8% in the 3rd quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock worth $26,000 after buying an additional 106 shares in the last quarter. Quarry LP grew its holdings in Target by 100.0% in the 4th quarter. Quarry LP now owns 192 shares of the retailer’s stock worth $27,000 after buying an additional 96 shares in the last quarter. Sittner & Nelson LLC grew its holdings in Target by 150.6% in the 2nd quarter. Sittner & Nelson LLC now owns 213 shares of the retailer’s stock worth $28,000 after buying an additional 128 shares in the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in Target in the 4th quarter worth approximately $28,000. Finally, Rakuten Securities Inc. bought a new position in Target in the 4th quarter worth approximately $29,000. 79.73% of the stock is owned by institutional investors.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.