Target (NYSE:TGT) Rating Reiterated by BMO Capital Markets

BMO Capital Markets reiterated their buy rating on shares of Target (NYSE:TGT) in a research report sent to investors on Wednesday morning, TipRanks reports. The firm currently has a $125.00 price target on the retailer’s stock.

TGT has been the topic of a number of other reports. Cfra increased their price target on shares of Target from $115.00 to $120.00 and gave the company a hold rating in a research report on Wednesday. Deutsche Bank lowered their target price on Target from $122.00 to $121.00 and set a buy rating for the company in a research note on Friday, April 24th. Morgan Stanley lowered their target price on Target from $110.00 to $105.00 and set an equal weight rating for the company in a research note on Tuesday, May 5th. ValuEngine raised Target from a sell rating to a hold rating in a research note on Monday, March 9th. Finally, Robert W. Baird reissued a buy rating and set a $140.00 target price on shares of Target in a research note on Tuesday, March 3rd. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $128.21.

Shares of NYSE:TGT traded down $1.19 during mid-day trading on Wednesday, reaching $117.49. The stock had a trading volume of 4,835,356 shares, compared to its average volume of 5,780,963. The firm has a market cap of $59.32 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 4.03 and a beta of 0.75. The firm has a 50 day simple moving average of $109.72 and a two-hundred day simple moving average of $114.20. The company has a current ratio of 1.01, a quick ratio of 0.27 and a debt-to-equity ratio of 1.46. Target has a twelve month low of $76.86 and a twelve month high of $130.24.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, May 20th. The retailer reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.19. The business had revenue of $19.37 billion for the quarter, compared to the consensus estimate of $19.04 billion. Target had a net margin of 3.46% and a return on equity of 24.17%. Target’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period last year, the company posted $1.53 EPS. On average, equities analysts anticipate that Target will post 4.62 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be paid a $0.66 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $2.64 annualized dividend and a dividend yield of 2.25%. Target’s dividend payout ratio is presently 41.31%.

In related news, CAO Robert M. Harrison sold 464 shares of the firm’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $107.67, for a total value of $49,958.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Brian C. Cornell sold 110,000 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $120.00, for a total transaction of $13,200,000.00. Following the completion of the transaction, the insider now directly owns 208,502 shares of the company’s stock, valued at $25,020,240. The disclosure for this sale can be found here. Insiders sold 111,095 shares of company stock valued at $13,314,321 over the last three months. 0.24% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in the business. Argent Trust Co lifted its holdings in Target by 0.3% during the 4th quarter. Argent Trust Co now owns 29,738 shares of the retailer’s stock valued at $3,812,000 after purchasing an additional 89 shares during the last quarter. Glassman Wealth Services lifted its holdings in Target by 22.4% during the 4th quarter. Glassman Wealth Services now owns 492 shares of the retailer’s stock valued at $63,000 after purchasing an additional 90 shares during the last quarter. Personal Wealth Partners lifted its holdings in Target by 38.6% during the 4th quarter. Personal Wealth Partners now owns 334 shares of the retailer’s stock valued at $43,000 after purchasing an additional 93 shares during the last quarter. Corient Capital Partners LLC lifted its holdings in Target by 1.2% during the 4th quarter. Corient Capital Partners LLC now owns 7,889 shares of the retailer’s stock valued at $1,012,000 after purchasing an additional 95 shares during the last quarter. Finally, Wealth Alliance Advisory Group LLC lifted its holdings in Target by 3.6% during the 4th quarter. Wealth Alliance Advisory Group LLC now owns 2,845 shares of the retailer’s stock valued at $365,000 after purchasing an additional 100 shares during the last quarter. 80.49% of the stock is owned by institutional investors and hedge funds.

Target Company Profile

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 d├ęcor products, electronics, toys, seasonal offerings, and other merchandise.

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Analyst Recommendations for Target (NYSE:TGT)

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