Target Co. (TGT) Receives $90.38 Consensus PT from Analysts

Shares of Target Co. (NYSE:TGT) have been given an average recommendation of “Hold” by the twenty-six research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $88.00.

Several research firms recently issued reports on TGT. ValuEngine cut shares of Target from a “buy” rating to a “hold” rating in a research report on Wednesday. BMO Capital Markets set a $70.00 price objective on shares of Target and gave the stock a “hold” rating in a research report on Tuesday. Deutsche Bank set a $82.00 price objective on shares of Target and gave the stock a “hold” rating in a research report on Wednesday. Morgan Stanley lowered their target price on shares of Target from $70.00 to $60.00 and set an “underweight” rating for the company in a research note on Friday. Finally, Credit Suisse Group raised shares of Target to a “buy” rating and set a $94.00 target price for the company in a research note on Tuesday.

In other news, insider Janna A. Potts sold 15,172 shares of the firm’s stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $88.00, for a total value of $1,335,136.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephanie A. Lundquist sold 2,100 shares of the firm’s stock in a transaction that occurred on Tuesday, October 9th. The shares were sold at an average price of $86.00, for a total transaction of $180,600.00. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in Target by 1.0% in the first quarter. Principal Financial Group Inc. now owns 947,868 shares of the retailer’s stock worth $65,810,000 after acquiring an additional 9,594 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in Target in the second quarter worth approximately $254,000. Welch & Forbes LLC acquired a new stake in Target during the second quarter worth approximately $569,000. Assenagon Asset Management S.A. raised its holdings in Target by 89.4% during the second quarter. Assenagon Asset Management S.A. now owns 32,206 shares of the retailer’s stock worth $2,452,000 after purchasing an additional 15,204 shares in the last quarter. Finally, Calamos Advisors LLC acquired a new stake in Target during the second quarter worth approximately $6,165,000. 83.13% of the stock is owned by institutional investors and hedge funds.

Target stock traded down $1.89 during midday trading on Friday, hitting $67.38. 4,410,806 shares of the stock were exchanged, compared to its average volume of 6,565,298. Target has a fifty-two week low of $55.25 and a fifty-two week high of $90.39. The stock has a market cap of $36.46 billion, a P/E ratio of 14.30, a PEG ratio of 1.91 and a beta of 0.73. The company has a current ratio of 0.83, a quick ratio of 0.17 and a debt-to-equity ratio of 1.10.

Target (NYSE:TGT) last released its quarterly earnings data on Tuesday, November 20th. The retailer reported $1.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.02). Target had a return on equity of 25.02% and a net margin of 4.31%. The firm had revenue of $17.59 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the previous year, the business posted $0.91 earnings per share. Target’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, analysts forecast that Target will post 5.4 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Wednesday, November 21st will be paid a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 3.80%. The ex-dividend date is Tuesday, November 20th. Target’s dividend payout ratio (DPR) is presently 54.35%.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.

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Analyst Recommendations for Target (NYSE:TGT)

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