Target (TGT) Upgraded at ValuEngine

ValuEngine upgraded shares of Target (NYSE:TGT) from a hold rating to a buy rating in a research note published on Friday.

TGT has been the topic of several other reports. Zacks Investment Research lowered shares of Target from a buy rating to a hold rating in a report on Monday, October 23rd. Vetr lowered shares of Target from a strong-buy rating to a buy rating and set a $66.10 price target on the stock. in a report on Wednesday, November 29th. MKM Partners assumed coverage on shares of Target in a report on Wednesday, October 18th. They issued a buy rating and a $85.00 price target on the stock. Stifel Nicolaus set a $60.00 price target on shares of Target and gave the stock a hold rating in a report on Wednesday, October 18th. Finally, Wells Fargo & Company assumed coverage on shares of Target in a report on Friday, November 3rd. They issued a market perform rating and a $62.00 price target on the stock. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $63.25.

Shares of Target (NYSE TGT) traded down $0.39 during mid-day trading on Friday, reaching $59.51. 8,317,900 shares of the company traded hands, compared to its average volume of 7,420,128. The stock has a market capitalization of $32,348.01, a price-to-earnings ratio of 12.40, a price-to-earnings-growth ratio of 7.36 and a beta of 0.64. The company has a current ratio of 0.96, a quick ratio of 0.27 and a debt-to-equity ratio of 1.01. Target has a 12 month low of $48.56 and a 12 month high of $78.42.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, November 15th. The retailer reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.05. The company had revenue of $16.67 billion for the quarter, compared to analyst estimates of $16.61 billion. Target had a net margin of 3.80% and a return on equity of 24.09%. Target’s revenue was up 1.4% compared to the same quarter last year. During the same period last year, the company posted $1.04 earnings per share. analysts anticipate that Target will post 4.54 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Wednesday, November 15th will be paid a dividend of $0.62 per share. The ex-dividend date is Tuesday, November 14th. This represents a $2.48 annualized dividend and a dividend yield of 4.17%. Target’s payout ratio is currently 51.88%.

In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of Target stock in a transaction on Friday, September 15th. The shares were sold at an average price of $59.37, for a total transaction of $277,792.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Bedell Frazier Investment Counseling LLC acquired a new position in Target during the third quarter valued at $219,000. Heritage Trust Co lifted its position in Target by 129.7% during the third quarter. Heritage Trust Co now owns 1,771 shares of the retailer’s stock valued at $105,000 after purchasing an additional 1,000 shares during the period. SevenBridge Financial Group LLC lifted its position in Target by 2,200.0% during the third quarter. SevenBridge Financial Group LLC now owns 1,909 shares of the retailer’s stock valued at $113,000 after purchasing an additional 1,826 shares during the period. Parallel Advisors LLC lifted its position in Target by 23.8% during the second quarter. Parallel Advisors LLC now owns 2,072 shares of the retailer’s stock valued at $117,000 after purchasing an additional 399 shares during the period. Finally, Jacobi Capital Management LLC lifted its position in Target by 109.8% during the third quarter. Jacobi Capital Management LLC now owns 2,503 shares of the retailer’s stock valued at $141,000 after purchasing an additional 1,310 shares during the period. Institutional investors and hedge funds own 87.41% of the company’s stock.

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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 ValuEngine’s full report, visit ValuEngine’s official website.

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