Royal Bank Of Canada Increases Target (NYSE:TGT) Price Target to $107.00

Target (NYSE:TGT) had its target price upped by Royal Bank Of Canada from $104.00 to $107.00 in a research report released on Thursday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the retailer’s stock.

A number of other equities research analysts have also recently commented on TGT. Wells Fargo & Company lowered their target price on Target from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, May 22nd. Sanford C. Bernstein cut Target from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $97.00 to $82.00 in a report on Monday, May 12th. Zacks Research upgraded Target from a “strong sell” rating to a “hold” rating in a report on Tuesday. Bank of America reiterated an “underperform” rating and set a $93.00 target price (down previously from $105.00) on shares of Target in a report on Friday, August 15th. Finally, Citigroup lowered their target price on Target from $97.00 to $94.00 and set a “neutral” rating on the stock in a report on Thursday, May 22nd. Ten analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Target has a consensus rating of “Hold” and an average target price of $113.55.

Target Stock Performance

NYSE TGT opened at $97.0770 on Thursday. Target has a 1-year low of $87.35 and a 1-year high of $161.84. The company has a market capitalization of $44.11 billion, a P/E ratio of 11.31, a PEG ratio of 2.84 and a beta of 1.22. The business has a 50 day moving average price of $101.99 and a 200 day moving average price of $104.11. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.25.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.01. Target had a return on equity of 23.43% and a net margin of 3.72%.The firm had revenue of $24.99 billion during the quarter, compared to the consensus estimate of $24.84 billion. During the same period last year, the business posted $2.57 EPS. Target’s quarterly revenue was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Sell-side analysts expect that Target will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be issued a dividend of $1.12 per share. The ex-dividend date is Wednesday, August 13th. This represents a $4.48 annualized dividend and a dividend yield of 4.6%. Target’s dividend payout ratio (DPR) is 50.11%.

Insider Activity

In other news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the sale, the insider owned 246,453 shares in the company, valued at $23,703,849.54. This trade represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. WFA of San Diego LLC purchased a new position in shares of Target in the 2nd quarter worth $25,000. Raleigh Capital Management Inc. raised its position in shares of Target by 63.4% in the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock worth $26,000 after buying an additional 102 shares during the period. Kozak & Associates Inc. raised its position in shares of Target by 2,530.0% in the 2nd quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock worth $27,000 after buying an additional 253 shares during the period. Bernard Wealth Management Corp. purchased a new position in shares of Target in the 4th quarter worth $29,000. Finally, Investment Research & Advisory Group Inc. purchased a new position in shares of Target in the 2nd quarter worth $29,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Company Profile

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.