Other equities research analysts have also recently issued reports about the company. Gordon Haskett raised Target from an accumulate rating to a buy rating in a report on Thursday, March 21st. Zacks Investment Research raised Target from a hold rating to a buy rating and set a $86.00 target price on the stock in a report on Friday, March 8th. Morgan Stanley raised Target from an underweight rating to an equal weight rating and set a $67.00 target price on the stock in a report on Monday, May 20th. Deutsche Bank lifted their target price on Target from $80.00 to $84.00 and gave the stock a hold rating in a report on Wednesday, March 6th. Finally, Evercore ISI started coverage on Target in a report on Wednesday, March 20th. They issued an in-line rating and a $80.00 target price on the stock. Twelve analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company currently has an average rating of Buy and an average price target of $89.97.
Shares of Target stock opened at $81.57 on Thursday. Target has a 52 week low of $60.15 and a 52 week high of $90.39. The stock has a market capitalization of $42.05 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 1.97 and a beta of 0.65. The company has a current ratio of 0.83, a quick ratio of 0.20 and a debt-to-equity ratio of 1.08.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.64 per share. The ex-dividend date is Tuesday, May 14th. This represents a $2.56 annualized dividend and a yield of 3.14%. Target’s payout ratio is currently 47.50%.
In other Target news, insider Robert M. Harrison sold 1,791 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $80.28, for a total transaction of $143,781.48. Following the sale, the insider now directly owns 12,836 shares of the company’s stock, valued at $1,030,474.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Edward Mcnamara sold 5,186 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $79.18, for a total value of $410,627.48. Following the sale, the insider now directly owns 77,550 shares in the company, valued at $6,140,409. The disclosure for this sale can be found here. Insiders have sold 45,736 shares of company stock worth $3,466,370 over the last three months. 0.19% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. One Capital Management LLC increased its stake in Target by 1.9% during the fourth quarter. One Capital Management LLC now owns 36,001 shares of the retailer’s stock worth $2,379,000 after acquiring an additional 656 shares during the last quarter. Lord Abbett & CO. LLC boosted its position in shares of Target by 40.9% during the fourth quarter. Lord Abbett & CO. LLC now owns 897,700 shares of the retailer’s stock valued at $59,329,000 after buying an additional 260,700 shares during the period. Actinver Wealth Management Inc. purchased a new position in shares of Target during the fourth quarter valued at approximately $835,000. Swedbank boosted its position in shares of Target by 4.5% during the fourth quarter. Swedbank now owns 2,349,986 shares of the retailer’s stock valued at $152,655,000 after buying an additional 101,671 shares during the period. Finally, CIBC Asset Management Inc boosted its position in shares of Target by 0.6% during the fourth quarter. CIBC Asset Management Inc now owns 52,674 shares of the retailer’s stock valued at $3,481,000 after buying an additional 335 shares during the period. 82.48% of the stock is currently owned by institutional investors.
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.
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