Target Co. (NYSE:TGT) Receives $182.04 Average Price Target from Brokerages

Shares of Target Co. (NYSE:TGT) have been given a consensus recommendation of “Moderate Buy” by the twenty-seven brokerages that are covering the company, MarketBeat reports. Eleven research analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $181.85.

A number of equities analysts have issued reports on the company. BMO Capital Markets upped their target price on Target from $145.00 to $170.00 and gave the company a “market perform” rating in a research report on Wednesday, March 6th. Oppenheimer increased their price objective on shares of Target from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. Guggenheim boosted their target price on shares of Target from $160.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Citigroup increased their price target on shares of Target from $142.00 to $180.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. Finally, Bank of America boosted their price objective on Target from $160.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, March 6th.

Target Price Performance

Shares of TGT stock opened at $168.30 on Friday. The firm has a fifty day simple moving average of $163.68 and a 200-day simple moving average of $140.95. The company has a market capitalization of $77.70 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. Target has a twelve month low of $102.93 and a twelve month high of $181.86. The company has a current ratio of 0.91, a quick ratio of 0.29 and a debt-to-equity ratio of 1.11.

Target (NYSE:TGT) last posted its quarterly earnings data on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.57. Target had a net margin of 3.85% and a return on equity of 33.41%. The company had revenue of $31.47 billion during the quarter, compared to analysts’ expectations of $31.83 billion. During the same period in the prior year, the company posted $1.89 EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. Equities research analysts anticipate that Target will post 9.39 earnings per share for the current fiscal year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.61%. Target’s dividend payout ratio (DPR) is presently 49.27%.

Insider Transactions at Target

In related news, insider Melissa K. Kremer sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $165.05, for a total value of $495,150.00. Following the sale, the insider now directly owns 30,527 shares in the company, valued at approximately $5,038,481.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Melissa K. Kremer sold 3,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $165.05, for a total value of $495,150.00. Following the completion of the transaction, the insider now owns 30,527 shares in the company, valued at approximately $5,038,481.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the transaction, the insider now directly owns 346,919 shares in the company, valued at approximately $58,115,870.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,600 shares of company stock worth $8,819,598. Company insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On Target

A number of institutional investors have recently added to or reduced their stakes in the company. FORVIS Wealth Advisors LLC raised its stake in shares of Target by 1.4% in the 1st quarter. FORVIS Wealth Advisors LLC now owns 26,821 shares of the retailer’s stock worth $4,753,000 after buying an additional 368 shares in the last quarter. Uncommon Cents Investing LLC raised its position in Target by 0.6% in the first quarter. Uncommon Cents Investing LLC now owns 21,268 shares of the retailer’s stock worth $3,769,000 after acquiring an additional 130 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in Target by 16.4% in the 1st quarter. First Trust Direct Indexing L.P. now owns 14,245 shares of the retailer’s stock valued at $2,524,000 after acquiring an additional 2,006 shares during the last quarter. Financial Sense Advisors Inc. lifted its holdings in Target by 9.9% in the 1st quarter. Financial Sense Advisors Inc. now owns 11,879 shares of the retailer’s stock valued at $2,105,000 after acquiring an additional 1,068 shares during the last quarter. Finally, Abundance Wealth Counselors boosted its position in shares of Target by 5.7% during the 1st quarter. Abundance Wealth Counselors now owns 6,085 shares of the retailer’s stock valued at $1,078,000 after purchasing an additional 327 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

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.