Target Corporation (NYSE:TGT) was upgraded by Vetr from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, May 10th. The brokerage presently has a $61.86 target price on the retailer’s stock. Vetr‘s price objective would suggest a potential upside of 11.54% from the company’s previous close.
TGT has been the topic of a number of other research reports. Gordon Haskett initiated coverage on Target Corporation in a research note on Tuesday, May 9th. They set a “sell” rating and a $47.00 price objective on the stock. Buckingham Research reiterated a “buy” rating and set a $71.00 price objective on shares of Target Corporation in a research note on Wednesday, April 19th. TheStreet cut Target Corporation from a “b-” rating to a “c+” rating in a research note on Monday, March 27th. Zacks Investment Research cut Target Corporation from a “hold” rating to a “strong sell” rating in a research note on Monday, March 20th. Finally, BMO Capital Markets reiterated a “market weight” rating and set a $60.00 price objective (down previously from $74.00) on shares of Target Corporation in a research note on Sunday, March 5th. Six investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $64.68.
Shares of Target Corporation (TGT) traded down 4.15% during trading on Wednesday, reaching $55.46. 10,528,011 shares of the company traded hands. The stock has a market cap of $30.60 billion, a P/E ratio of 11.36 and a beta of 0.58. The stock’s 50 day moving average price is $55.91 and its 200-day moving average price is $62.06. Target Corporation has a 12 month low of $52.72 and a 12 month 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, topping analysts’ consensus estimates of $0.91 by $0.30. Target Corporation had a return on equity of 25.17% and a net margin of 4.02%. The firm had revenue of $16.02 billion during the quarter, compared to the consensus estimate of $15.63 billion. During the same quarter in the prior year, the firm posted $1.29 EPS. The business’s revenue was down 1.1% on a year-over-year basis. On average, equities research analysts expect that Target Corporation will post $4.24 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Wednesday, August 16th will be given a $0.62 dividend. The ex-dividend date is Monday, August 14th. This is an increase from Target Corporation’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 4.47%. Target Corporation’s dividend payout ratio (DPR) is currently 48.98%.
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A number of institutional investors have recently bought and sold shares of TGT. State Street Corp increased its position in Target Corporation by 0.3% in the fourth quarter. State Street Corp now owns 51,198,488 shares of the retailer’s stock valued at $3,698,062,000 after buying an additional 145,625 shares in the last quarter. BlackRock Inc. increased its position in shares of 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. Dodge & Cox bought a new position in shares of Target Corporation during the fourth quarter worth about $788,237,000. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of 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. Finally, Bank of New York Mellon Corp increased its position in shares of 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. Hedge funds and other institutional investors own 83.05% of the company’s stock.
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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