Citigroup reaffirmed their neutral rating on shares of Target (NYSE:TGT) in a research note issued to investors on Friday, February 16th, Marketbeat reports. Citigroup currently has a $80.00 price target on the retailer’s stock, down from their prior price target of $86.00.
Several other brokerages have also recently issued reports on TGT. Zacks Investment Research raised shares of Target from a hold rating to a strong-buy rating and set a $88.00 target price on the stock in a research note on Saturday, January 20th. Vetr lowered shares of Target from a hold rating to a sell rating and set a $73.66 price target on the stock. in a research note on Thursday, February 15th. MKM Partners set a $93.00 price target on shares of Target and gave the stock a buy rating in a research note on Friday, January 12th. ValuEngine upgraded shares of Target from a hold rating to a buy rating in a research note on Tuesday, February 13th. Finally, Robert W. Baird raised Target from a neutral rating to an outperform rating and upped their price target for the company from $75.00 to $85.00 in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $73.97.
Target (NYSE TGT) traded down $0.52 during mid-day trading on Friday, reaching $70.65. 4,683,651 shares of the company were exchanged, compared to its average volume of 6,710,000. Target has a one year low of $48.56 and a one year high of $78.70. The company has a quick ratio of 0.30, a current ratio of 0.95 and a debt-to-equity ratio of 0.97. The firm has a market cap of $38,400.00, a PE ratio of 15.29, a PEG ratio of 2.98 and a beta of 0.71.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 10th. Shareholders of record on Wednesday, February 21st were issued a dividend of $0.62 per share. The ex-dividend date was Tuesday, February 20th. This represents a $2.48 annualized dividend and a yield of 3.51%. Target’s dividend payout ratio is presently 53.68%.
In other news, insider Robert M. Harrison sold 8,557 shares of Target stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $76.74, for a total value of $656,664.18. Following the completion of the transaction, the insider now owns 13,288 shares in the company, valued at approximately $1,019,721.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Roxanne S. Austin sold 4,705 shares of Target stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $62.61, for a total value of $294,580.05. The disclosure for this sale can be found here. Insiders have sold a total of 16,262 shares of company stock worth $1,185,484 over the last 90 days. 0.20% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in TGT. American Century Companies Inc. boosted its position in Target by 45.1% during the 3rd quarter. American Century Companies Inc. now owns 5,238,106 shares of the retailer’s stock worth $309,101,000 after acquiring an additional 1,629,222 shares during the period. TIAA CREF Investment Management LLC raised its stake in shares of Target by 85.0% in the 4th quarter. TIAA CREF Investment Management LLC now owns 3,299,194 shares of the retailer’s stock worth $215,272,000 after buying an additional 1,515,618 shares in the last quarter. Miller Howard Investments Inc. NY bought a new stake in shares of Target in the 3rd quarter worth $65,948,000. Dimensional Fund Advisors LP raised its stake in shares of Target by 49.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,186,874 shares of the retailer’s stock worth $188,052,000 after buying an additional 1,058,000 shares in the last quarter. Finally, Teachers Advisors LLC raised its stake in shares of Target by 101.8% in the 4th quarter. Teachers Advisors LLC now owns 1,879,844 shares of the retailer’s stock worth $122,660,000 after buying an additional 948,075 shares in the last quarter. Institutional investors and hedge funds own 87.02% of the company’s stock.
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Target 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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