Target (NYSE:TGT) Upgraded to Strong-Buy by StockNews.com

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

Several other analysts have also issued reports on the stock. Piper Sandler assumed coverage on shares of Target in a research report on Wednesday, July 10th. They set a neutral rating and a $156.00 price target on the stock. Oppenheimer reduced their price target on Target from $200.00 to $180.00 and set an outperform rating for the company in a report on Wednesday, August 14th. Stifel Nicolaus boosted their price target on Target from $147.00 to $165.00 and gave the stock a hold rating in a research report on Thursday. Telsey Advisory Group lifted their target price on Target from $190.00 to $195.00 and gave the stock an outperform rating in a research note on Thursday. Finally, Truist Financial boosted their target price on Target from $156.00 to $162.00 and gave the stock a hold rating in a report on Thursday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $179.52.

Target Trading Up 1.1 %

Target stock opened at $158.50 on Thursday. The company has a market cap of $73.33 billion, a price-to-earnings ratio of 17.79, a P/E/G ratio of 1.38 and a beta of 1.19. The firm has a 50-day moving average of $145.94 and a 200-day moving average of $154.69. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.27. 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, beating the consensus estimate of $2.18 by $0.39. The firm had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. Target had a return on equity of 31.91% and a net margin of 3.87%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.80 earnings per share. On average, equities analysts expect that Target will post 9.31 earnings per share for the current fiscal year.

Target Increases Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TGT. Triad Wealth Partners LLC bought a new position in shares of Target in the second quarter worth about $25,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Target in the fourth quarter valued at approximately $28,000. Slocum Gordon & Co LLP acquired a new stake in Target in the second quarter valued at approximately $28,000. Private Wealth Management Group LLC bought a new stake in shares of Target during the fourth quarter worth $29,000. Finally, Scarborough Advisors LLC acquired a new position in shares of Target during the fourth quarter worth $29,000. 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.