Target (NYSE:TGT) Lifted to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Target (NYSE:TGT) from a buy rating to a strong-buy rating in a report issued on Thursday.

A number of other brokerages also recently weighed in on TGT. Morgan Stanley reaffirmed an overweight rating and set a $180.00 price target on shares of Target in a report on Wednesday. Roth Mkm raised their target price on Target from $153.00 to $157.00 and gave the company a neutral rating in a report on Thursday. Jefferies Financial Group boosted their price target on Target from $190.00 to $195.00 and gave the stock a buy rating in a report on Thursday. Telsey Advisory Group raised their price objective on Target from $190.00 to $195.00 and gave the company an outperform rating in a research note on Thursday. Finally, Piper Sandler assumed coverage on Target in a research note on Wednesday, July 10th. They set a neutral rating and a $156.00 target price for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Target presently has a consensus rating of Moderate Buy and a consensus target price of $179.52.

Target Price Performance

Target stock opened at $158.50 on Thursday. The firm has a market cap of $73.33 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 1.38 and a beta of 1.19. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.27. The stock’s fifty day moving average price is $145.94 and its two-hundred day moving average price is $154.63. Target has a one year low of $102.93 and a one year high of $181.86.

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

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be given a dividend of $1.12 per share. The ex-dividend date is Wednesday, August 21st. This represents a $4.48 dividend on an annualized basis and a yield of 2.83%. This is a boost from Target’s previous quarterly dividend of $1.10. Target’s dividend payout ratio is 50.28%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TGT. Triad Wealth Partners LLC bought a new stake in Target in the second quarter worth approximately $25,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Target during the 4th quarter worth approximately $28,000. Slocum Gordon & Co LLP bought a new stake in shares of Target in the 2nd quarter valued at $28,000. Private Wealth Management Group LLC acquired a new position in shares of Target during the 4th quarter valued at $29,000. Finally, Scarborough Advisors LLC bought a new position in Target during the fourth quarter worth $29,000. 79.73% of the stock is owned by institutional investors.

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.