Vetr upgraded shares of Target Corporation (NYSE:TGT) from a buy rating to a strong-buy rating in a research report report published on Monday, July 17th. They currently have $60.06 price target on the retailer’s stock.
Several other equities research analysts have also recently weighed in on TGT. UBS AG reissued a neutral rating and issued a $56.00 price target (down previously from $60.00) on shares of Target Corporation in a research note on Tuesday, June 20th. TheStreet cut Target Corporation from a b- rating to a c+ rating in a research note on Monday, March 27th. Robert W. Baird reissued a neutral rating and issued a $55.00 price target on shares of Target Corporation in a research note on Friday, July 14th. Jefferies Group LLC reissued a hold rating and issued a $59.00 price target on shares of Target Corporation in a research note on Tuesday, June 20th. Finally, Cowen and Company reissued a market perform rating and issued a $64.00 price target on shares of Target Corporation in a research note on Friday, July 14th. Six analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the stock. Target Corporation currently has an average rating of Hold and a consensus price target of $62.01.
Target Corporation (NYSE:TGT) traded up 0.95% during trading on Monday, hitting $57.58. The stock had a trading volume of 4,462,766 shares. The company has a 50-day moving average of $53.26 and a 200 day moving average of $56.79. The company has a market cap of $31.77 billion, a price-to-earnings ratio of 11.80 and a beta of 0.61. Target Corporation has a 52 week low of $48.56 and a 52 week high of $79.33.
Target Corporation (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.30. The company had revenue of $16.02 billion during the quarter, compared to analysts’ expectations of $15.63 billion. Target Corporation had a return on equity of 25.17% and a net margin of 4.02%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.29 earnings per share. On average, equities research analysts anticipate that Target Corporation will post $4.37 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Wednesday, August 16th will be issued a dividend of $0.62 per share. This is a positive change from Target Corporation’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend is Monday, August 14th. Target Corporation’s dividend payout ratio (DPR) is 48.98%.
In related news, insider Robert M. Harrison sold 2,639 shares of Target Corporation stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total transaction of $137,359.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.25% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. Cribstone Capital Management LLC raised its stake in shares of Target Corporation by 114.2% in the first quarter. Cribstone Capital Management LLC now owns 1,906 shares of the retailer’s stock worth $101,000 after buying an additional 1,016 shares during the period. Reilly Financial Advisors LLC raised its stake in shares of Target Corporation by 77.6% in the first quarter. Reilly Financial Advisors LLC now owns 2,000 shares of the retailer’s stock worth $110,000 after buying an additional 874 shares during the period. Pinnacle Bank acquired a new stake in shares of Target Corporation during the first quarter worth approximately $123,000. Peoples Financial Services CORP. raised its stake in shares of Target Corporation by 116.7% in the first quarter. Peoples Financial Services CORP. now owns 2,275 shares of the retailer’s stock worth $125,000 after buying an additional 1,225 shares during the period. Finally, Penserra Capital Management LLC raised its stake in shares of Target Corporation by 9.5% in the first quarter. Penserra Capital Management LLC now owns 2,346 shares of the retailer’s stock worth $129,000 after buying an additional 204 shares during the period. Institutional investors and hedge funds own 82.81% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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