Target (NYSE:TGT) Price Target Raised to $160.00 at Evercore ISI

Target (NYSE:TGT) had its target price raised by Evercore ISI from $158.00 to $160.00 in a report published on Thursday morning, Marketbeat reports. The brokerage currently has an inline rating on the retailer’s stock.

A number of other analysts also recently issued reports on the company. Piper Sandler started coverage on Target in a research report on Wednesday, July 10th. They set a neutral rating and a $156.00 price target for the company. Roth Mkm reiterated a neutral rating and set a $153.00 target price on shares of Target in a research report on Thursday, May 23rd. Citigroup raised shares of Target from a neutral rating to a buy rating and set a $180.00 price target on the stock in a report on Tuesday, May 7th. Truist Financial lifted their price objective on shares of Target from $153.00 to $156.00 and gave the stock a hold rating in a report on Thursday, August 1st. Finally, Telsey Advisory Group reissued an outperform rating and issued a $190.00 target price on shares of Target in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $179.52.

Target Price Performance

Shares of NYSE:TGT opened at $156.93 on Thursday. Target has a 12 month low of $102.93 and a 12 month high of $181.86. The company has a current ratio of 0.86, a quick ratio of 0.27 and a debt-to-equity ratio of 0.97. The stock has a market cap of $72.60 billion, a P/E ratio of 17.61, a P/E/G ratio of 1.38 and a beta of 1.19. The company has a 50 day moving average of $145.60 and a 200 day moving average of $154.45.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.39. The firm had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.80 earnings per share. As a group, sell-side analysts forecast that Target will post 9.31 EPS for the current fiscal year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be paid a dividend of $1.12 per share. The ex-dividend date is Wednesday, August 21st. This is a boost from Target’s previous quarterly dividend of $1.10. This represents a $4.48 annualized dividend and a dividend yield of 2.85%. Target’s payout ratio is 50.28%.

Institutional Trading of Target

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Triad Wealth Partners LLC purchased a new stake in shares of Target in the 2nd quarter worth about $25,000. Godsey & Gibb Inc. raised its stake in Target by 148.6% in the first quarter. Godsey & Gibb Inc. now owns 174 shares of the retailer’s stock worth $31,000 after buying an additional 104 shares in the last quarter. Washington Trust Advisors Inc. boosted its position in Target by 56.1% during the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after acquiring an additional 64 shares in the last quarter. Slocum Gordon & Co LLP purchased a new position in shares of Target during the 2nd quarter worth approximately $28,000. Finally, Retirement Group LLC raised its position in shares of Target by 85.0% in the 1st quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock worth $35,000 after acquiring an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

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.