Target (NYSE:TGT) Reaches New 52-Week High – Time to Buy?

Shares of Target Corporation (NYSE:TGT) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $138.35 and last traded at $138.5090, with a volume of 598723 shares changing hands. The stock had previously closed at $134.11.

Wall Street Analysts Forecast Growth

TGT has been the subject of several research analyst reports. Mizuho set a $120.00 price objective on Target in a report on Thursday, March 5th. Argus set a $150.00 price target on shares of Target in a research report on Friday, May 22nd. BMO Capital Markets upped their price target on shares of Target from $105.00 to $130.00 and gave the company a “market perform” rating in a report on Wednesday, March 4th. BNP Paribas Exane raised their price objective on shares of Target from $63.00 to $88.00 and gave the company an “underperform” rating in a research report on Wednesday, March 4th. Finally, Roth Mkm reaffirmed a “neutral” rating and issued a $114.00 price objective on shares of Target in a research note on Friday, May 22nd. Twelve equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Target presently has a consensus rating of “Hold” and a consensus target price of $129.00.

Target Trading Up 3.5%

The company has a current ratio of 0.93, a quick ratio of 0.30 and a debt-to-equity ratio of 0.87. The stock has a market cap of $63.02 billion, a price-to-earnings ratio of 18.34, a P/E/G ratio of 2.53 and a beta of 1.00. The company has a fifty day simple moving average of $126.79 and a 200-day simple moving average of $115.74.

Target (NYSE:TGT) last released its earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.24. The business had revenue of $25.44 billion for the quarter, compared to the consensus estimate of $24.66 billion. Target had a net margin of 3.24% and a return on equity of 22.92%. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period last year, the firm posted $1.30 earnings per share. Target has set its FY 2026 guidance at 7.500-8.500 EPS. On average, research analysts forecast that Target Corporation will post 8.35 earnings per share for the current fiscal year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 12th will be issued a $1.16 dividend. The ex-dividend date is Wednesday, August 12th. This is an increase from Target’s previous quarterly dividend of $1.14. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.3%. Target’s dividend payout ratio is currently 61.29%.

Insider Activity at Target

In other news, insider Cara A. Sylvester sold 10,000 shares of Target stock in a transaction on Friday, May 29th. The stock was sold at an average price of $125.89, for a total transaction of $1,258,900.00. Following the transaction, the insider owned 45,930 shares in the company, valued at approximately $5,782,127.70. The trade was a 17.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Target

Several institutional investors and hedge funds have recently bought and sold shares of the business. WFA of San Diego LLC acquired a new stake in shares of Target during the second quarter worth approximately $25,000. Jessup Wealth Management Inc purchased a new stake in Target in the 4th quarter worth approximately $25,000. Altshuler Shaham Ltd acquired a new stake in shares of Target during the 4th quarter valued at $26,000. Global Wealth Strategies & Associates boosted its stake in shares of Target by 192.0% during the 4th quarter. Global Wealth Strategies & Associates now owns 292 shares of the retailer’s stock valued at $29,000 after buying an additional 192 shares during the period. Finally, Eagle Bay Advisors LLC acquired a new stake in shares of Target during the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Company Profile

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.