Target (NYSE:TGT) Research Coverage Started at Melius Research

Equities researchers at Melius Research initiated coverage on shares of Target (NYSE:TGT) in a report issued on Monday, Benzinga reports. The brokerage set a “buy” rating and a $180.00 price target on the retailer’s stock. Melius Research’s target price would suggest a potential upside of 15.85% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. Morgan Stanley reiterated an “overweight” rating and set a $180.00 target price on shares of Target in a research note on Wednesday, August 21st. Piper Sandler assumed coverage on Target in a report on Wednesday, July 10th. They set a “neutral” rating and a $156.00 price target for the company. TD Cowen upped their price target on Target from $165.00 to $180.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. lifted their price objective on Target from $153.00 to $167.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Finally, Citigroup boosted their price objective on Target from $180.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.69.

Target Stock Up 0.4 %

Shares of NYSE TGT traded up $0.63 on Monday, reaching $155.38. 1,116,564 shares of the company’s stock traded hands, compared to its average volume of 4,026,583. The business’s 50 day simple moving average is $148.48 and its two-hundred day simple moving average is $154.85. Target has a 12 month low of $102.93 and a 12 month high of $181.86. The company has a market cap of $71.88 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The company had revenue of $25.02 billion during the quarter, compared to analyst estimates of $25.19 billion. During the same quarter last year, the company earned $1.80 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, equities research analysts forecast that Target will post 9.53 EPS for the current fiscal year.

Insider Buying and Selling at Target

In other news, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the sale, the chief accounting officer now owns 7,276 shares in the company, valued at approximately $1,114,173.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the sale, the chief accounting officer now owns 7,276 shares in the company, valued at $1,114,173.88. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.

Institutional Trading of Target

Several institutional investors and hedge funds have recently added to or reduced their stakes in TGT. Greater Midwest Financial Group LLC acquired a new position in Target in the second quarter worth approximately $242,000. Verity & Verity LLC increased its stake in shares of Target by 10.2% in the second quarter. Verity & Verity LLC now owns 106,952 shares of the retailer’s stock worth $15,833,000 after purchasing an additional 9,903 shares during the period. SS&H Financial Advisors Inc. bought a new stake in Target during the 2nd quarter valued at approximately $213,000. Sanctuary Advisors LLC acquired a new stake in Target in the 2nd quarter valued at approximately $15,591,000. Finally, Creekside Partners bought a new position in Target in the 2nd quarter worth approximately $343,000. 79.73% of the stock is owned by institutional investors and hedge funds.

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.