Brokerages Set Target Co. (NYSE:TGT) PT at $261.76

Shares of Target Co. (NYSE:TGT) have received an average recommendation of “Buy” from the twenty-three brokerages that are covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $261.76.

TGT has been the topic of a number of recent research reports. Raymond James increased their target price on Target from $285.00 to $290.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 18th. Deutsche Bank Aktiengesellschaft upped their price target on Target from $306.00 to $317.00 and gave the company a “buy” rating in a report on Wednesday, November 10th. Morgan Stanley upped their price target on Target from $250.00 to $260.00 and gave the company an “equal weight” rating in a report on Wednesday, August 25th. Credit Suisse Group assumed coverage on Target in a report on Friday, November 19th. They set an “outperform” rating and a $286.00 price target on the stock. Finally, The Goldman Sachs Group upped their price target on Target from $281.00 to $308.00 and gave the company a “buy” rating in a report on Tuesday, October 19th.

Shares of NYSE TGT traded down $0.42 during trading on Friday, reaching $248.76. The company had a trading volume of 3,051,972 shares, compared to its average volume of 3,363,392. Target has a 12-month low of $166.82 and a 12-month high of $268.98. The stock has a market cap of $121.40 billion, a PE ratio of 19.81, a P/E/G ratio of 1.42 and a beta of 1.03. The business’s 50-day moving average is $247.07 and its 200 day moving average is $243.89. The company has a quick ratio of 0.46, a current ratio of 1.04 and a debt-to-equity ratio of 0.78.

Target (NYSE:TGT) last released its earnings results on Wednesday, November 17th. The retailer reported $3.03 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.20. Target had a return on equity of 44.68% and a net margin of 6.29%. The firm had revenue of $25.29 billion for the quarter, compared to analysts’ expectations of $24.60 billion. During the same period in the prior year, the firm posted $2.79 earnings per share. The company’s quarterly revenue was up 13.2% on a year-over-year basis. On average, analysts anticipate that Target will post 12.97 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 10th. Shareholders of record on Wednesday, November 17th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Tuesday, November 16th. Target’s payout ratio is 28.66%.

Target announced that its Board of Directors has approved a share repurchase program on Wednesday, August 18th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the retailer to buy up to 12.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

In other Target news, insider Brian C. Cornell sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 2nd. The stock was sold at an average price of $245.98, for a total value of $6,149,500.00. Following the completion of the sale, the insider now owns 195,271 shares in the company, valued at $48,032,760.58. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Christina Hennington sold 4,173 shares of the stock in a transaction dated Friday, November 19th. The stock was sold at an average price of $250.95, for a total value of $1,047,214.35. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TGT. Moors & Cabot Inc. grew its holdings in Target by 111.0% during the 3rd quarter. Moors & Cabot Inc. now owns 25,000 shares of the retailer’s stock valued at $25,000 after buying an additional 13,149 shares in the last quarter. Mascoma Wealth Management LLC purchased a new position in Target during the 3rd quarter valued at approximately $28,000. Emerald Advisers LLC purchased a new position in Target during the 2nd quarter valued at approximately $31,000. Atwood & Palmer Inc. lifted its stake in shares of Target by 458.3% in the 3rd quarter. Atwood & Palmer Inc. now owns 134 shares of the retailer’s stock valued at $31,000 after purchasing an additional 110 shares during the last quarter. Finally, Holloway Wealth Management LLC lifted its stake in shares of Target by 166.0% in the 2nd quarter. Holloway Wealth Management LLC now owns 133 shares of the retailer’s stock valued at $32,000 after purchasing an additional 83 shares during the last quarter. Institutional investors and hedge funds own 78.36% of the company’s stock.

Target Company Profile

Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.

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Analyst Recommendations for Target (NYSE:TGT)

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