Vetr upgraded shares of Target Co. (NYSE:TGT) from a hold rating to a buy rating in a research note issued to investors on Wednesday. The firm currently has $61.86 price target on the retailer’s stock.
A number of other equities analysts have also recently issued reports on TGT. TheStreet cut Target from a b- rating to a c+ rating in a report on Monday, March 27th. Stifel Nicolaus assumed coverage on Target in a report on Thursday, January 19th. They issued a hold rating and a $72.00 target price for the company. Susquehanna Bancshares Inc assumed coverage on Target in a report on Friday, February 10th. They issued a neutral rating and a $70.00 target price for the company. Telsey Advisory Group cut Target from an outperform rating to a market perform rating and lowered their target price for the stock from $78.00 to $58.00 in a report on Wednesday, March 1st. Finally, Instinet lowered their target price on Target to $60.00 in a report on Wednesday, March 1st. Six investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have issued a buy rating to the company. Target currently has an average rating of Hold and an average price target of $66.40.
Target (NYSE:TGT) opened at 55.35 on Wednesday. The company’s 50 day moving average price is $55.00 and its 200-day moving average price is $64.70. The company has a market cap of $30.59 billion, a P/E ratio of 11.78 and a beta of 0.63. Target has a one year low of $52.72 and a one year high of $79.33.
Target (NYSE:TGT) last posted its quarterly earnings data on Tuesday, February 28th. The retailer reported $1.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.51 by $0.06. Target had a net margin of 4.75% and a return on equity of 25.18%. The business had revenue of $20.69 billion for the quarter, compared to analysts’ expectations of $20.76 billion. During the same quarter in the previous year, the firm earned $1.52 EPS. Target’s revenue was down 4.3% compared to the same quarter last year. On average, analysts forecast that Target will post $4.00 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 10th. Shareholders of record on Wednesday, May 17th will be given a dividend of $0.60 per share. The ex-dividend date is Monday, May 15th. This represents a $2.40 dividend on an annualized basis and a yield of 4.34%. Target’s dividend payout ratio is currently 42.93%.
In other Target news, insider Cathy R. Smith purchased 5,000 shares of the stock in a transaction on Wednesday, March 1st. The shares were bought at an average price of $58.95 per share, for a total transaction of $294,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Donald R. Knauss purchased 10,000 shares of the stock in a transaction on Thursday, March 9th. The shares were acquired at an average price of $54.86 per share, for a total transaction of $548,600.00. Following the transaction, the director now directly owns 16,431 shares of the company’s stock, valued at approximately $901,404.66. The disclosure for this purchase can be found here. Insiders have acquired 19,000 shares of company stock worth $1,073,750 in the last quarter. 0.25% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. Cribstone Capital Management LLC boosted its position in shares of Target 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 last quarter. First National Bank Sioux Falls boosted its position in shares of Target by 18.5% in the third quarter. First National Bank Sioux Falls now owns 1,603 shares of the retailer’s stock worth $110,000 after buying an additional 250 shares during the last quarter. Reilly Financial Advisors LLC boosted its position in shares of Target 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 last quarter. Pinnacle Bank purchased a new position in shares of Target during the first quarter worth approximately $123,000. Finally, Peoples Financial Services CORP. boosted its position in shares of Target 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 last quarter. Institutional investors own 88.53% of the company’s stock.
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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