Target Corporation (NYSE:TGT) had its price objective hoisted by BMO Capital Markets from $60.00 to $62.00 in a research note released on Friday morning. BMO Capital Markets currently has a market perform rating on the retailer’s stock.
Other analysts also recently issued research reports about the stock. Vetr upgraded shares of Target Corporation from a hold rating to a buy rating and set a $61.86 price objective for the company in a research report on Wednesday, May 10th. BidaskClub upgraded shares of Target Corporation from a sell rating to a hold rating in a research report on Tuesday, June 13th. Gordon Haskett began coverage on shares of Target Corporation in a research report on Tuesday, May 9th. They set a sell rating and a $47.00 price objective for the company. Zacks Investment Research upgraded shares of Target Corporation from a sell rating to a hold rating in a research report on Monday, May 15th. Finally, Jefferies Group LLC restated a hold rating and set a $59.00 price objective (up previously from $56.00) on shares of Target Corporation in a research report on Friday, May 19th. Seven equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Target Corporation has an average rating of Hold and an average price target of $62.93.
Target Corporation (NYSE TGT) traded up 0.94% on Friday, hitting $53.73. 12,487,976 shares of the company’s stock were exchanged. The company has a market cap of $29.64 billion, a PE ratio of 11.01 and a beta of 0.60. The company’s 50-day moving average price is $54.35 and its 200-day moving average price is $60.17. Target Corporation has a 12-month low of $48.56 and a 12-month high of $79.33.
Target Corporation (NYSE:TGT) last posted its quarterly earnings results on Wednesday, May 17th. The retailer reported $1.21 EPS for the quarter, topping the consensus estimate of $0.91 by $0.30. Target Corporation had a net margin of 4.02% and a return on equity of 25.17%. The company had revenue of $16.02 billion during the quarter, compared to analysts’ expectations of $15.63 billion. During the same quarter in the previous year, the business posted $1.29 EPS. The firm’s revenue was down 1.1% on a year-over-year basis. Analysts forecast that Target Corporation will post $4.36 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th will be paid a dividend of $0.62 per share. The ex-dividend date is Monday, August 14th. This is a boost from Target Corporation’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.62%. Target Corporation’s dividend payout ratio is 48.98%.
In other news, insider Robert M. Harrison sold 2,639 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $52.05, for a total transaction of $137,359.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Alyeska Investment Group L.P. bought a new position in Target Corporation during the fourth quarter worth $36,479,000. Tyvor Capital LLC bought a new position in Target Corporation during the fourth quarter worth $18,574,000. GLG LLC boosted its position in Target Corporation by 6.8% in the fourth quarter. GLG LLC now owns 5,866 shares of the retailer’s stock worth $424,000 after buying an additional 373 shares during the period. Caxton Associates LP bought a new position in Target Corporation during the fourth quarter worth $9,751,000. Finally, Tudor Investment Corp Et Al boosted its position in Target Corporation by 91.3% in the fourth quarter. Tudor Investment Corp Et Al now owns 41,739 shares of the retailer’s stock worth $3,015,000 after buying an additional 19,925 shares during the period. 83.21% of the stock is currently owned by institutional investors and hedge funds.
About Target Corporation
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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