Research Analysts’ Weekly Ratings Changes for Target (TGT)

Target (NYSE: TGT) recently received a number of ratings updates from brokerages and research firms:

• 8/29/2024 – Target had its price target raised by analysts at JPMorgan Chase & Co. from $153.00 to $167.00. They now have a “neutral” rating on the stock.
• 8/26/2024 – Target was upgraded by analysts at Daiwa America to a “strong-buy” rating.
• 8/26/2024 – Target was upgraded by analysts at Daiwa Capital Markets from a “neutral” rating to an “outperform” rating. They now have a $170.00 price target on the stock.
• 8/22/2024 – Target was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 8/22/2024 – Target had its price target raised by analysts at Wells Fargo & Company from $160.00 to $180.00. They now have an “overweight” rating on the stock.
• 8/22/2024 – Target had its price target raised by analysts at Royal Bank of Canada from $174.00 to $177.00. They now have an “outperform” rating on the stock.
• 8/22/2024 – Target had its price target raised by analysts at Telsey Advisory Group from $190.00 to $195.00. They now have an “outperform” rating on the stock.
• 8/22/2024 – Target had its price target raised by analysts at Roth Mkm from $153.00 to $157.00. They now have a “neutral” rating on the stock.
• 8/22/2024 – Target had its price target raised by analysts at Evercore ISI from $158.00 to $160.00. They now have an “inline” rating on the stock.
• 8/22/2024 – Target had its price target raised by analysts at TD Cowen from $165.00 to $180.00. They now have a “hold” rating on the stock.
• 8/22/2024 – Target had its price target raised by analysts at Truist Financial Co. from $156.00 to $162.00. They now have a “hold” rating on the stock.
• 8/22/2024 – Target had its price target raised by analysts at Stifel Nicolaus from $147.00 to $165.00. They now have a “hold” rating on the stock.
• 8/22/2024 – Target had its price target raised by analysts at Citigroup Inc. from $180.00 to $188.00. They now have a “buy” rating on the stock.
• 8/22/2024 – Target had its price target raised by analysts at UBS Group AG from $185.00 to $200.00. They now have a “buy” rating on the stock.
• 8/22/2024 – Target had its price target raised by analysts at Jefferies Financial Group Inc. from $190.00 to $195.00. They now have a “buy” rating on the stock.
• 8/22/2024 – Target had its price target raised by analysts at Bank of America Co. from $190.00 to $195.00. They now have a “buy” rating on the stock.
• 8/21/2024 – Target had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $180.00 price target on the stock.
• 8/16/2024 – Target had its “outperform” rating reaffirmed by analysts at Telsey Advisory Group. They now have a $190.00 price target on the stock.
• 8/14/2024 – Target had its price target lowered by analysts at Oppenheimer Holdings Inc. from $200.00 to $180.00. They now have an “outperform” rating on the stock.
• 8/13/2024 – Target had its price target lowered by analysts at Stifel Nicolaus from $170.00 to $147.00. They now have a “hold” rating on the stock.
• 8/7/2024 – Target had its price target lowered by analysts at Wells Fargo & Company from $175.00 to $160.00. They now have an “overweight” rating on the stock.
• 8/5/2024 – Target had its price target lowered by analysts at JPMorgan Chase & Co. from $165.00 to $153.00. They now have a “neutral” rating on the stock.
• 8/1/2024 – Target had its price target raised by analysts at Truist Financial Co. from $153.00 to $156.00. They now have a “hold” rating on the stock.
• 7/10/2024 – Target is now covered by analysts at Piper Sandler. They set a “neutral” rating and a $156.00 price target on the stock.

Target Stock Up 0.1 %

NYSE:TGT opened at $153.62 on Monday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. The firm has a market cap of $71.07 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 1.99 and a beta of 1.19. The company has a 50-day moving average of $147.18 and a 200 day moving average of $154.95. Target Co. has a 1-year low of $102.93 and a 1-year high of $181.86.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.39. The business had revenue of $25.02 billion for the quarter, compared to analyst estimates of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.80 earnings per share. As a group, research analysts anticipate that Target Co. will post 9.49 EPS for the current fiscal year.

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be paid a $1.12 dividend. This is a positive change from Target’s previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, August 21st. This represents a $4.48 dividend on an annualized basis and a yield of 2.92%. Target’s dividend payout ratio (DPR) is 50.28%.

Insiders Place Their Bets

In related news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the transaction, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. The sale was disclosed in a filing with the SEC, which is available through this link. 0.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Little House Capital LLC purchased a new stake in shares of Target during the 1st quarter worth about $1,041,000. Nordea Investment Management AB raised its holdings in Target by 23.6% in the 1st quarter. Nordea Investment Management AB now owns 642,340 shares of the retailer’s stock worth $112,686,000 after purchasing an additional 122,706 shares during the period. QRG Capital Management Inc. boosted its position in Target by 11.4% during the first quarter. QRG Capital Management Inc. now owns 65,558 shares of the retailer’s stock worth $11,618,000 after purchasing an additional 6,690 shares in the last quarter. Janney Capital Management LLC acquired a new stake in Target in the first quarter valued at approximately $13,958,000. Finally, United Services Automobile Association increased its position in shares of Target by 134.6% in the fourth quarter. United Services Automobile Association now owns 103,785 shares of the retailer’s stock valued at $14,781,000 after buying an additional 59,553 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

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.