Target (NYSE:TGT) Shares Up 0.9%

Target Co. (NYSE:TGT)’s stock price was up 0.9% during trading on Thursday . The stock traded as high as $157.74 and last traded at $156.41. Approximately 487,132 shares traded hands during trading, a decline of 88% from the average daily volume of 4,003,208 shares. The stock had previously closed at $155.07.

Wall Street Analyst Weigh In

A number of analysts have commented on TGT shares. TD Cowen boosted their target price on Target from $165.00 to $180.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. StockNews.com raised shares of Target from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 22nd. Bank of America increased their target price on Target from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Truist Financial boosted their price target on Target from $156.00 to $162.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Finally, Daiwa America raised Target to a “strong-buy” rating in a research note on Monday, August 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Target presently has a consensus rating of “Moderate Buy” and an average price target of $179.69.

Target Stock Up 0.4 %

The stock has a fifty day moving average price of $148.57 and a 200-day moving average price of $154.64. The firm has a market cap of $71.69 billion, a PE ratio of 17.55, a PEG ratio of 2.00 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90.

Target (NYSE:TGT) last released its quarterly earnings data 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. Target had a net margin of 4.18% and a return on equity of 33.10%. The company had revenue of $25.02 billion during the quarter, compared to analyst estimates of $25.19 billion. During the same quarter in the prior year, the business earned $1.80 earnings per share. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. Research analysts expect that Target Co. will post 9.53 EPS for the current year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio is presently 50.28%.

Insider Transactions at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the sale, the insider now directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Target 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 completion of the sale, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the transaction, the chief accounting officer now directly owns 7,276 shares in the company, valued at $1,114,173.88. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

Institutional Trading of Target

Several large investors have recently modified their holdings of the business. Triad Wealth Partners LLC purchased a new position in Target in the second quarter valued at about $25,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Target during the 4th quarter valued at approximately $28,000. Slocum Gordon & Co LLP purchased a new position in shares of Target during the 2nd quarter valued at approximately $28,000. Scarborough Advisors LLC acquired a new stake in shares of Target during the fourth quarter worth approximately $29,000. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Target in the second quarter worth $31,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

About Target

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.