Target Co. (NYSE:TGT) Receives $179.47 Average PT from Brokerages

Target Co. (NYSE:TGT) has earned a consensus recommendation of “Moderate Buy” from the thirty-one ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, ten have given a hold recommendation, nineteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $179.47.

A number of equities research analysts have recently weighed in on the stock. Daiwa America upgraded shares of Target to a “strong-buy” rating in a report on Monday, August 26th. Piper Sandler initiated coverage on shares of Target in a research note on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 price target for the company. Roth Mkm raised their price objective on Target from $153.00 to $157.00 and gave the company a “neutral” rating in a research note on Thursday, August 22nd. Oppenheimer decreased their price objective on Target from $200.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $195.00 target price on shares of Target in a report on Thursday, September 19th.

Target Trading Up 0.5 %

Shares of TGT opened at $150.84 on Wednesday. Target has a 1-year low of $105.23 and a 1-year high of $181.86. The company has a market capitalization of $69.49 billion, a P/E ratio of 15.58, a P/E/G ratio of 1.92 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. The firm’s 50 day simple moving average is $153.04 and its 200 day simple moving average is $151.40.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.39. The firm had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the company posted $1.80 EPS. Sell-side analysts forecast that Target will post 9.53 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s payout ratio is currently 46.28%.

Insider Buying and Selling at Target

In related news, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the transaction, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at $1,114,173.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the sale, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the sale, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at $1,114,173.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,348 shares of company stock valued at $8,290,995. Corporate insiders own 0.15% of the company’s stock.

Institutional Trading of Target

Institutional investors have recently added to or reduced their stakes in the business. Triad Wealth Partners LLC purchased a new stake in shares of Target during the second quarter valued at $25,000. Washington Trust Advisors Inc. boosted its holdings in shares of Target by 56.1% during the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after acquiring an additional 64 shares during the last quarter. Slocum Gordon & Co LLP bought a new stake in shares of Target in the second quarter worth approximately $28,000. Retirement Group LLC raised its holdings in shares of Target by 85.0% during the first quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock valued at $35,000 after purchasing an additional 91 shares during the last quarter. Finally, Hobbs Group Advisors LLC bought a new position in Target during the second quarter valued at approximately $31,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Company Profile

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.