Target Co. (NYSE:TGT) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Target Co. (NYSE:TGT) have earned an average recommendation of “Moderate Buy” from the twenty-seven analysts that are currently covering the stock, MarketBeat reports. Eleven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $181.85.

A number of research firms have recently commented on TGT. Royal Bank of Canada upped their target price on Target from $157.00 to $191.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Guggenheim upped their target price on Target from $160.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Morgan Stanley increased their price objective on Target from $165.00 to $190.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Deutsche Bank Aktiengesellschaft raised Target from a “hold” rating to a “buy” rating and increased their price objective for the stock from $149.00 to $206.00 in a research note on Wednesday, March 6th. Finally, Wells Fargo & Company increased their price objective on Target from $165.00 to $190.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th.

Target Trading Up 0.7 %

Shares of NYSE TGT opened at $164.47 on Friday. The stock has a market capitalization of $75.93 billion, a P/E ratio of 18.42, a PEG ratio of 1.55 and a beta of 1.14. The business’s 50 day moving average is $162.87 and its two-hundred day moving average is $140.34. Target has a 1-year low of $102.93 and a 1-year high of $181.86. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.91 and a quick ratio of 0.29.

Target (NYSE:TGT) last released its earnings results on Tuesday, March 5th. The retailer reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.57. The firm had revenue of $31.47 billion for the quarter, compared to analysts’ expectations of $31.83 billion. Target had a return on equity of 33.41% and a net margin of 3.85%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.89 earnings per share. As a group, research analysts expect that Target will post 9.39 EPS for the current year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $4.40 annualized dividend and a dividend yield of 2.68%. Target’s dividend payout ratio is presently 49.27%.

Insider Activity

In other news, insider Melissa K. Kremer sold 3,000 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $165.05, for a total transaction of $495,150.00. Following the completion of the sale, the insider now owns 30,527 shares in the company, valued at approximately $5,038,481.35. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $167.52, for a total value of $7,538,400.00. Following the completion of the transaction, the insider now owns 346,919 shares in the company, valued at approximately $58,115,870.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Melissa K. Kremer sold 3,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $165.05, for a total value of $495,150.00. Following the completion of the transaction, the insider now owns 30,527 shares of the company’s stock, valued at approximately $5,038,481.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,600 shares of company stock worth $8,819,598. Insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On Target

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TGT. Tower View Wealth Management LLC raised its stake in Target by 82.8% in the 3rd quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock worth $26,000 after acquiring an additional 106 shares during the last quarter. Quarry LP raised its stake in Target by 100.0% in the 4th quarter. Quarry LP now owns 192 shares of the retailer’s stock worth $27,000 after acquiring an additional 96 shares during the last quarter. Ables Iannone Moore & Associates Inc. purchased a new position in Target in the 4th quarter worth $28,000. Rakuten Securities Inc. acquired a new stake in Target during the 4th quarter worth about $29,000. Finally, Private Wealth Management Group LLC acquired a new stake in Target during the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.