KeyCorp initiated coverage on shares of Target (NYSE:TGT) in a report released on Friday morning, Marketbeat.com reports. The brokerage issued an overweight rating and a $110.00 price objective on the retailer’s stock.
TGT has been the topic of several other reports. Citigroup upped their target price on shares of Target from $76.00 to $92.00 and gave the company a neutral rating in a research report on Monday, August 27th. Stifel Nicolaus upped their target price on shares of Target from $85.00 to $93.00 and gave the company a hold rating in a research report on Thursday, August 23rd. BMO Capital Markets began coverage on shares of Target in a research report on Monday, September 17th. They set a market perform rating and a $88.00 target price on the stock. Wolfe Research cut shares of Target from an outperform rating to a market perform rating in a research report on Thursday, August 23rd. Finally, Barclays upped their target price on shares of Target from $70.00 to $90.00 and gave the company an equal weight rating in a research report on Thursday, August 23rd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $90.38.
Shares of TGT traded down $1.08 during midday trading on Friday, hitting $79.68. 8,252,510 shares of the company traded hands, compared to its average volume of 4,846,724. Target has a 52 week low of $55.25 and a 52 week high of $90.39. The company has a market capitalization of $43.76 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 2.29 and a beta of 0.73. The company has a quick ratio of 0.17, a current ratio of 0.82 and a debt-to-equity ratio of 1.09.
Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 22nd. The retailer reported $1.47 EPS for the quarter, beating the consensus estimate of $1.40 by $0.07. The business had revenue of $17.78 billion during the quarter, compared to the consensus estimate of $17.33 billion. Target had a net margin of 4.19% and a return on equity of 24.29%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.23 EPS. As a group, sell-side analysts expect that Target will post 5.4 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Wednesday, November 21st will be paid a $0.64 dividend. The ex-dividend date is Tuesday, November 20th. This represents a $2.56 dividend on an annualized basis and a yield of 3.21%. Target’s dividend payout ratio is currently 54.35%.
In other news, insider Stephanie A. Lundquist sold 2,100 shares of the stock in a transaction that occurred on Tuesday, October 9th. The shares were sold at an average price of $86.00, for a total transaction of $180,600.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Janna A. Potts sold 15,172 shares of the stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $88.00, for a total transaction of $1,335,136.00. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Target by 5.3% during the second quarter. BlackRock Inc. now owns 42,770,603 shares of the retailer’s stock valued at $3,255,697,000 after purchasing an additional 2,161,982 shares in the last quarter. AQR Capital Management LLC boosted its stake in Target by 114.5% in the third quarter. AQR Capital Management LLC now owns 10,474,816 shares of the retailer’s stock valued at $923,984,000 after acquiring an additional 5,590,395 shares in the last quarter. LSV Asset Management boosted its stake in Target by 1.2% in the second quarter. LSV Asset Management now owns 7,496,328 shares of the retailer’s stock valued at $570,620,000 after acquiring an additional 90,489 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Target by 17.2% in the third quarter. JPMorgan Chase & Co. now owns 4,570,262 shares of the retailer’s stock valued at $403,145,000 after acquiring an additional 671,121 shares in the last quarter. Finally, FMR LLC boosted its stake in Target by 11.0% in the third quarter. FMR LLC now owns 4,462,508 shares of the retailer’s stock valued at $393,637,000 after acquiring an additional 442,448 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.
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