Jefferies Group LLC reissued their hold rating on shares of Target Corporation (NYSE:TGT) in a research report sent to investors on Friday morning.
Other equities research analysts also recently issued reports about the stock. UBS AG reaffirmed a neutral rating and set a $56.00 price objective (down from $60.00) on shares of Target Corporation in a report on Tuesday, June 20th. Stifel Nicolaus restated a hold rating and issued a $60.00 price objective (up from $58.00) on shares of Target Corporation in a research report on Friday, August 18th. BidaskClub cut shares of Target Corporation from a buy rating to a hold rating in a research report on Saturday, August 12th. Vetr cut shares of Target Corporation from a buy rating to a hold rating and set a $59.67 price objective on the stock. in a research report on Monday, August 7th. Finally, Gordon Haskett upgraded shares of Target Corporation from a sell rating to a hold rating and upped their price objective for the stock from $47.00 to $58.00 in a research report on Wednesday, August 16th. Five equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $61.64.
Target Corporation (NYSE:TGT) traded up 1.48% during midday trading on Friday, hitting $55.01. 6,979,927 shares of the company traded hands. Target Corporation has a 12-month low of $48.56 and a 12-month high of $79.33. The stock’s 50-day moving average is $55.11 and its 200-day moving average is $55.88. The firm has a market capitalization of $30.05 billion, a PE ratio of 11.12 and a beta of 0.61. Target Corporation also was the recipient of unusually large options trading activity on Thursday. Traders purchased 27,938 put options on the stock. This represents an increase of approximately 146% compared to the typical volume of 11,363 put options.
Target Corporation (NYSE:TGT) last posted its earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.03. The firm had revenue of $16.43 billion during the quarter, compared to analyst estimates of $16.30 billion. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.23 EPS. Analysts anticipate that Target Corporation will post $4.50 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.51%. This is a boost from Target Corporation’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, August 14th. Target Corporation’s dividend payout ratio is 50.00%.
In other news, insider Robert M. Harrison sold 2,639 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total transaction of $137,359.95. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.25% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC increased its position in shares of Target Corporation by 23.8% in the second quarter. Parallel Advisors LLC now owns 2,072 shares of the retailer’s stock valued at $117,000 after buying an additional 399 shares during the period. Penserra Capital Management LLC increased its position in 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 last quarter. Davidson Investment Advisors increased its position in Target Corporation by 18.5% in the first quarter. Davidson Investment Advisors now owns 2,559 shares of the retailer’s stock worth $141,000 after buying an additional 400 shares during the last quarter. Kistler Tiffany Companies LLC increased its position in Target Corporation by 19.1% in the second quarter. Kistler Tiffany Companies LLC now owns 2,775 shares of the retailer’s stock worth $145,000 after buying an additional 445 shares during the last quarter. Finally, Rowland & Co. Investment Counsel ADV increased its position in Target Corporation by 4.7% in the second quarter. Rowland & Co. Investment Counsel ADV now owns 2,956 shares of the retailer’s stock worth $155,000 after buying an additional 132 shares during the last quarter. 82.59% of the stock is currently owned by hedge funds and other institutional investors.
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.
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