Citigroup reaffirmed their neutral rating on shares of Target (NYSE:TGT) in a research report sent to investors on Friday. They currently have a $80.00 price target on the retailer’s stock, down from their prior price target of $86.00.
A number of other equities research analysts also recently issued reports on TGT. Zacks Investment Research downgraded shares of Target from a buy rating to a hold rating in a research note on Monday, October 23rd. Wells Fargo & Co started coverage on shares of Target in a research note on Friday, November 3rd. They issued a market perform rating and a $62.00 price target on the stock. Telsey Advisory Group reduced their price target on shares of Target from $60.00 to $58.00 and set an outperform rating on the stock in a research note on Thursday, November 16th. Stifel Nicolaus reduced their price target on shares of Target from $65.00 to $62.00 and set a hold rating on the stock in a research note on Thursday, November 16th. Finally, Morgan Stanley reduced their price target on shares of Target from $52.00 to $50.00 and set an underweight rating on the stock in a research note on Thursday, November 16th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $69.56.
Shares of Target (NYSE TGT) traded down $0.34 during mid-day trading on Friday, reaching $75.70. 4,262,520 shares of the company’s stock were exchanged, compared to its average volume of 6,177,927. The company has a quick ratio of 0.27, a current ratio of 0.96 and a debt-to-equity ratio of 1.01. Target has a one year low of $48.56 and a one year high of $78.70. The stock has a market capitalization of $41,333.27, a P/E ratio of 15.84, a PEG ratio of 3.59 and a beta of 0.76.
Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, November 15th. The retailer reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. The business had revenue of $16.67 billion for the quarter, compared to the consensus estimate of $16.61 billion. Target had a net margin of 3.80% and a return on equity of 24.09%. The business’s revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.04 EPS. analysts anticipate that Target will post 4.72 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Wednesday, February 21st will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Tuesday, February 20th. Target’s payout ratio is currently 51.88%.
In other Target news, Director Roxanne S. Austin sold 4,705 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $62.61, for a total transaction of $294,580.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephanie A. Lundquist sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $78.08, for a total transaction of $234,240.00. Following the transaction, the insider now owns 16,906 shares of the company’s stock, valued at approximately $1,320,020.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,262 shares of company stock worth $1,185,484. 0.25% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of TGT. Heritage Trust Co grew its holdings in Target by 129.7% during the 3rd quarter. Heritage Trust Co now owns 1,771 shares of the retailer’s stock worth $105,000 after acquiring an additional 1,000 shares in the last quarter. Westside Investment Management Inc. grew its holdings in Target by 128.6% during the 4th quarter. Westside Investment Management Inc. now owns 1,600 shares of the retailer’s stock worth $107,000 after acquiring an additional 900 shares in the last quarter. SevenBridge Financial Group LLC grew its holdings in Target by 2,200.0% during the 3rd quarter. SevenBridge Financial Group LLC now owns 1,909 shares of the retailer’s stock worth $113,000 after acquiring an additional 1,826 shares in the last quarter. Security Asset Management acquired a new position in Target during the 4th quarter worth approximately $115,000. Finally, First Mercantile Trust Co. acquired a new position in Target during the 4th quarter worth approximately $124,000. Institutional investors own 87.85% of the company’s stock.
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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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