BidaskClub upgraded shares of Target Corporation (NYSE:TGT) from a sell rating to a hold rating in a report published on Monday, July 31st.
TGT has been the subject of several other research reports. Vetr upgraded shares of Target Corporation from a hold rating to a buy rating and set a $59.66 price target for the company in a research report on Monday, June 19th. ValuEngine downgraded shares of Target Corporation from a buy rating to a hold rating in a report on Friday, June 2nd. Robert W. Baird reissued a neutral rating and issued a $55.00 price target on shares of Target Corporation in a report on Friday, July 14th. Cowen and Company reaffirmed a market perform rating and set a $64.00 price objective on shares of Target Corporation in a research note on Friday, July 14th. Finally, Jefferies Group LLC reaffirmed a hold rating and set a $59.00 price objective (up from $56.00) on shares of Target Corporation in a research note on Friday, May 19th. Five analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $61.64.
Shares of Target Corporation (NYSE:TGT) traded down 0.84% during mid-day trading on Monday, reaching $55.65. 4,738,485 shares of the company’s stock traded hands. Target Corporation has a 12-month low of $48.56 and a 12-month high of $79.33. The stock has a market capitalization of $30.40 billion, a PE ratio of 11.24 and a beta of 0.61. The company’s 50-day moving average price is $54.68 and its 200-day moving average price is $56.16.
Target Corporation (NYSE:TGT) last released its earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.03. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The firm had revenue of $16.43 billion during the quarter, compared to analyst estimates of $16.30 billion. During the same quarter in the previous year, the firm earned $1.23 earnings per share. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. Analysts anticipate that Target Corporation will post $4.47 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Wednesday, August 16th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.46%. This is a positive change from Target Corporation’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, August 14th. Target Corporation’s dividend payout ratio (DPR) is presently 50.00%.
In other Target Corporation news, insider Robert M. Harrison sold 2,639 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total transaction of $137,359.95. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.25% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of TGT. Country Club Trust Company n.a. boosted its position in shares of Target Corporation by 7.6% in the first quarter. Country Club Trust Company n.a. now owns 175,801 shares of the retailer’s stock worth $9,702,000 after buying an additional 12,409 shares during the period. Quadrant Capital Group LLC boosted its position in Target Corporation by 100.8% in the first quarter. Quadrant Capital Group LLC now owns 10,558 shares of the retailer’s stock valued at $578,000 after buying an additional 5,299 shares during the period. Dynamic Advisors Solutions LLC acquired a new position in Target Corporation during the first quarter valued at $450,000. Raymond James Trust N.A. boosted its position in Target Corporation by 25.0% in the first quarter. Raymond James Trust N.A. now owns 66,620 shares of the retailer’s stock valued at $3,677,000 after buying an additional 13,305 shares during the period. Finally, Hefty Wealth Partners boosted its position in Target Corporation by 2,435.9% in the first quarter. Hefty Wealth Partners now owns 28,174 shares of the retailer’s stock valued at $1,554,000 after buying an additional 27,063 shares during the period. Hedge funds and other institutional investors own 82.59% of the company’s stock.
About Target Corporation
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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