Target Co. (NYSE:TGT) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Target Co. (NYSE:TGT) have been given a consensus recommendation of “Moderate Buy” by the thirty-one brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation, nineteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $179.47.

Several equities research analysts have commented on TGT shares. JPMorgan Chase & Co. boosted their price target on shares of Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Truist Financial increased their target price on shares of Target from $156.00 to $162.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. Melius Research assumed coverage on shares of Target in a research report on Monday, September 23rd. They issued a “buy” rating and a $180.00 price target on the stock. Stifel Nicolaus increased their price objective on Target from $147.00 to $165.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. Finally, Evercore ISI decreased their target price on Target from $170.00 to $165.00 and set an “in-line” rating on the stock in a report on Tuesday, October 22nd.

Insider Activity

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 transaction of $7,140,150.00. Following the completion of the transaction, the insider now directly owns 303,843 shares in the company, valued at $48,210,768.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Target news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the transaction, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the sale, the chief accounting officer now directly owns 7,276 shares in the company, valued at $1,114,173.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,348 shares of company stock valued at $8,290,995. 0.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On Target

Hedge funds have recently made changes to their positions in the business. Nordea Investment Management AB lifted its holdings in Target by 23.6% during the 1st quarter. Nordea Investment Management AB now owns 642,340 shares of the retailer’s stock valued at $112,686,000 after purchasing an additional 122,706 shares during the last quarter. QRG Capital Management Inc. boosted its stake in Target by 11.4% in 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 bought a new stake in shares of Target during the first quarter worth $13,958,000. Van ECK Associates Corp grew its holdings in shares of Target by 17.3% during the first quarter. Van ECK Associates Corp now owns 55,392 shares of the retailer’s stock worth $9,816,000 after purchasing an additional 8,185 shares during the last quarter. Finally, TAP Consulting LLC acquired a new stake in shares of Target in the third quarter valued at $2,403,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Trading Up 0.5 %

Target stock opened at $150.84 on Wednesday. Target has a 12-month low of $105.23 and a 12-month high of $181.86. The stock has a market capitalization of $69.49 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 1.94 and a beta of 1.24. The firm has a 50 day simple moving average of $153.04 and a 200-day simple moving average of $151.23. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) 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 firm had revenue of $25.02 billion during the quarter, compared to analyst estimates of $25.19 billion. During the same period last year, the company posted $1.80 EPS. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, equities research analysts expect that Target will post 9.54 EPS for the current fiscal year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 2.97%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio is currently 46.28%.

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.