Target Co. (NYSE:TGT) was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, May 10th. The firm presently has a $61.86 target price on the retailer’s stock. Vetr‘s target price points to a potential upside of 14.13% from the company’s previous close.
TGT has been the subject of several other reports. Cowen and Company reiterated a “market perform” rating and set a $75.00 target price on shares of Target in a research note on Tuesday, February 28th. UBS Group AG restated a “neutral” rating and issued a $72.00 price target on shares of Target in a research note on Tuesday, February 28th. Instinet reduced their price target on Target to $60.00 in a research note on Wednesday, March 1st. BMO Capital Markets restated a “market weight” rating and issued a $60.00 price target (down from $74.00) on shares of Target in a research note on Sunday, March 5th. Finally, Buckingham Research restated a “buy” rating and issued a $77.00 price target (down from $85.00) on shares of Target in a research note on Wednesday, January 18th. Six analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $65.49.
Shares of Target (NYSE:TGT) opened at 54.20 on Wednesday. Target has a 1-year low of $52.72 and a 1-year high of $79.33. The firm’s 50-day moving average is $55.26 and its 200 day moving average is $63.86. The company has a market cap of $29.90 billion, a price-to-earnings ratio of 11.11 and a beta of 0.63.
Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.30. The firm had revenue of $16.02 billion for the quarter, compared to analyst estimates of $15.63 billion. Target had a return on equity of 25.18% and a net margin of 4.75%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.29 EPS. Equities analysts expect that Target will post $4.23 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, June 10th. Investors of record on Wednesday, May 17th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, May 15th. This represents a $2.40 annualized dividend and a yield of 4.43%. Target’s dividend payout ratio (DPR) is presently 42.93%.
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In other news, insider Cathy R. Smith bought 5,000 shares of the stock in a transaction on Wednesday, March 1st. The stock was acquired at an average price of $58.95 per share, with a total value of $294,750.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Donald R. Knauss bought 10,000 shares of the stock in a transaction on Thursday, March 9th. The stock was purchased at an average cost of $54.86 per share, with a total value of $548,600.00. Following the acquisition, the director now owns 16,431 shares in the company, valued at $901,404.66. The disclosure for this purchase can be found here. Insiders purchased a total of 19,000 shares of company stock valued at $1,073,750 over the last 90 days. 0.25% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Proficio Capital Partners LLC boosted its position in shares of Target by 2,193.7% in the first quarter. Proficio Capital Partners LLC now owns 5,803 shares of the retailer’s stock worth $314,000 after buying an additional 5,550 shares during the last quarter. Stonebridge Capital Advisors LLC raised its stake in shares of Target by 47.6% in the first quarter. Stonebridge Capital Advisors LLC now owns 35,785 shares of the retailer’s stock valued at $1,975,000 after buying an additional 11,537 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Target during the first quarter valued at approximately $3,458,000. Achmea Investment Management B.V. acquired a new stake in shares of Target during the first quarter valued at approximately $6,803,000. Finally, Lowe Brockenbrough & Co. Inc. raised its position in shares of Target by 5.3% in the first quarter. Lowe Brockenbrough & Co. Inc. now owns 28,559 shares of the retailer’s stock valued at $1,576,000 after buying an additional 1,435 shares during the last quarter. 88.53% of the stock is owned by institutional investors and hedge funds.
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.
To view Vetr’s full report, visit Vetr’s official website.
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