MKM Partners set a $77.00 target price on Target (NYSE:TGT) in a research report sent to investors on Thursday morning. The firm currently has a buy rating on the retailer’s stock.
TGT has been the subject of a number of other research reports. TheStreet upgraded Target from a c+ rating to a b rating in a report on Thursday, September 28th. Zacks Investment Research upgraded Target from a hold rating to a buy rating and set a $63.00 price objective for the company in a report on Tuesday, October 10th. Morgan Stanley decreased their price objective on Target from $52.00 to $50.00 and set an underweight rating for the company in a report on Thursday, November 16th. Wells Fargo & Company initiated coverage on Target in a report on Friday, November 3rd. They issued a market perform rating and a $62.00 price objective for the company. Finally, BMO Capital Markets restated a market weight rating on shares of Target in a report on Thursday, September 14th. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have issued a buy rating to the stock. Target presently has an average rating of Hold and a consensus price target of $62.42.
Target (NYSE TGT) opened at $62.61 on Thursday. The stock has a market capitalization of $34,022.23, a PE ratio of 13.04, a price-to-earnings-growth ratio of 7.80 and a beta of 0.64. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.27 and a current ratio of 0.96. Target has a 1-year low of $48.56 and a 1-year high of $78.37.
Target (NYSE:TGT) last released its earnings results on Wednesday, November 15th. The retailer reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.05. The firm had revenue of $16.67 billion during the quarter, compared to analysts’ expectations of $16.61 billion. Target had a return on equity of 24.09% and a net margin of 3.80%. The company’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.04 EPS. equities analysts forecast that Target will post 4.51 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Sunday, December 10th. Investors of record on Wednesday, November 15th were paid a $0.62 dividend. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $2.48 annualized dividend and a yield of 3.96%. Target’s dividend payout ratio (DPR) is currently 51.88%.
Large investors have recently modified their holdings of the stock. Heritage Trust Co lifted its stake in Target by 129.7% in the 3rd 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 last quarter. SevenBridge Financial Group LLC lifted its stake in Target by 2,200.0% in the 3rd 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 last quarter. 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 worth $117,000 after acquiring an additional 399 shares during the last quarter. 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 worth $141,000 after acquiring an additional 1,310 shares during the last quarter. Finally, Kistler Tiffany Companies LLC lifted its position in Target by 19.1% during the second quarter. Kistler Tiffany Companies LLC now owns 2,775 shares of the retailer’s stock worth $145,000 after acquiring an additional 445 shares during the last quarter. Institutional investors and hedge funds own 87.75% 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.
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