Target Corporation (NYSE:TGT) had its target price lifted by BMO Capital Markets from $60.00 to $62.00 in a research note published on Friday, July 14th. BMO Capital Markets currently has a market perform rating on the retailer’s stock.
A number of other brokerages have also issued reports on TGT. Vetr upgraded Target Corporation from a hold rating to a buy rating and set a $61.86 price target for the company in a research note on Wednesday, May 10th. BidaskClub upgraded Target Corporation from a sell rating to a hold rating in a research note on Tuesday, June 13th. Gordon Haskett initiated coverage on shares of Target Corporation in a report on Tuesday, May 9th. They set a sell rating and a $47.00 price objective for the company. Zacks Investment Research raised shares of Target Corporation from a sell rating to a hold rating in a report on Monday, May 15th. Finally, Jefferies Group LLC reissued a hold rating and set a $59.00 price objective (up previously from $56.00) on shares of Target Corporation in a report on Friday, May 19th. Six research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $61.99.
Target Corporation (NYSE:TGT) opened at 55.65 on Friday. The firm’s 50-day moving average price is $54.12 and its 200-day moving average price is $56.47. The company has a market cap of $30.70 billion, a PE ratio of 11.40 and a beta of 0.61. Target Corporation has a one year low of $48.56 and a one year high of $79.33. Target Corporation also was the recipient of unusually large options trading on Wednesday. Traders bought 13,826 put options on the stock. This represents an increase of 188% compared to the average daily volume of 4,793 put options.
Target Corporation (NYSE:TGT) last posted its quarterly earnings data on Wednesday, May 17th. The retailer reported $1.21 EPS for the quarter, topping the consensus estimate of $0.91 by $0.30. The firm had revenue of $16.02 billion during the quarter, compared to analyst estimates of $15.63 billion. Target Corporation had a return on equity of 25.17% and a net margin of 4.02%. Target Corporation’s revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.29 EPS. On average, equities research analysts forecast that Target Corporation will post $4.39 earnings per share for the current fiscal year.
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The business also recently announced 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 of this dividend is Monday, August 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.46%. This is a boost from Target Corporation’s previous quarterly dividend of $0.60. Target Corporation’s payout ratio is currently 48.98%.
In other news, insider Robert M. Harrison sold 2,639 shares of the business’s stock in a transaction dated 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 Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. United Capital Financial Advisers LLC boosted its stake in shares of Target Corporation by 7.2% in the fourth quarter. United Capital Financial Advisers LLC now owns 86,347 shares of the retailer’s stock valued at $6,237,000 after buying an additional 5,836 shares in the last quarter. Boothbay Fund Management LLC acquired a new stake in shares of Target Corporation during the fourth quarter valued at about $288,000. Cigna Investments Inc. New acquired a new stake in shares of Target Corporation during the fourth quarter valued at about $1,516,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Target Corporation by 34.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 76,788 shares of the retailer’s stock valued at $5,520,000 after buying an additional 19,473 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its stake in shares of Target Corporation by 10.8% in the fourth quarter. Guggenheim Capital LLC now owns 933,698 shares of the retailer’s stock valued at $67,441,000 after buying an additional 90,754 shares in the last quarter. 82.63% of the stock is 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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