Target Corporation (NYSE:TGT) was downgraded by research analysts at Vetr from a “buy” rating to a “hold” rating in a research report issued on Monday. They presently have a $59.67 price target on the retailer’s stock. Vetr‘s target price suggests a potential upside of 1.58% from the stock’s previous close.
TGT has been the topic of a number of other research reports. ValuEngine downgraded shares of Target Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub upgraded shares of Target Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Robert W. Baird restated a “neutral” rating and set a $55.00 price target on shares of Target Corporation in a report on Friday, July 14th. Cowen and Company restated a “market perform” rating and set a $64.00 price target on shares of Target Corporation in a report on Friday, July 14th. Finally, Jefferies Group LLC restated a “hold” rating and set a $59.00 price target (up previously from $56.00) on shares of Target Corporation in a report on Friday, May 19th. Six analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $61.99.
Shares of Target Corporation (TGT) opened at 58.74 on Monday. The company has a 50-day moving average price of $53.26 and a 200 day moving average price of $56.79. The firm has a market capitalization of $32.41 billion, a P/E ratio of 12.04 and a beta of 0.61. Target Corporation has a one year low of $48.56 and a one year high of $79.33.
Target Corporation (NYSE:TGT) last released its quarterly earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.30. The business had revenue of $16.02 billion for the quarter, compared to the consensus estimate of $15.63 billion. Target Corporation had a net margin of 4.02% and a return on equity of 25.17%. Target Corporation’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.29 EPS. Analysts expect that Target Corporation will post $4.37 earnings per share for the current fiscal year.
In other news, insider Robert M. Harrison sold 2,639 shares of Target Corporation stock in a transaction dated Wednesday, July 5th. The shares were 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. 0.20% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Target Corporation by 2,069.0% in the first quarter. BlackRock Inc. now owns 47,046,403 shares of the retailer’s stock worth $2,596,495,000 after buying an additional 44,877,391 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its position in Target Corporation by 14.2% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 10,307,951 shares of the retailer’s stock worth $568,896,000 after buying an additional 1,279,077 shares during the period. Bank of New York Mellon Corp raised its position in Target Corporation by 11.6% in the first quarter. Bank of New York Mellon Corp now owns 9,555,703 shares of the retailer’s stock worth $527,380,000 after buying an additional 996,689 shares during the period. Morgan Stanley raised its position in Target Corporation by 1.6% in the first quarter. Morgan Stanley now owns 6,716,718 shares of the retailer’s stock worth $370,696,000 after buying an additional 107,163 shares during the period. Finally, Geode Capital Management LLC raised its position in Target Corporation by 8.9% in the first quarter. Geode Capital Management LLC now owns 6,035,990 shares of the retailer’s stock worth $332,703,000 after buying an additional 494,836 shares during the period. Hedge funds and other institutional investors own 82.63% of the company’s stock.
About Target Corporation
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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