Target Corporation (NYSE:TGT) Given Average Rating of “Hold” by Brokerages

Target Corporation (NYSE:TGT) has been given an average recommendation of “Hold” by the thirty-three brokerages that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, twenty have issued a hold rating and ten have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $104.4483.

A number of equities research analysts have issued reports on TGT shares. Wolfe Research raised Target from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, January 27th. Citigroup raised their target price on shares of Target from $89.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, February 12th. Deutsche Bank Aktiengesellschaft set a $108.00 price target on shares of Target in a research note on Thursday, January 8th. BMO Capital Markets dropped their price objective on shares of Target from $95.00 to $90.00 and set a “market perform” rating on the stock in a research report on Thursday, November 20th. Finally, Piper Sandler restated a “neutral” rating and issued a $85.00 price objective (down from $94.00) on shares of Target in a report on Thursday, November 20th.

Target Stock Performance

Shares of TGT stock opened at $116.62 on Tuesday. The firm has a 50 day moving average of $106.09 and a two-hundred day moving average of $97.44. The stock has a market capitalization of $52.81 billion, a PE ratio of 14.15, a P/E/G ratio of 11.93 and a beta of 1.14. The company has a quick ratio of 0.27, a current ratio of 0.97 and a debt-to-equity ratio of 0.99. Target has a 52 week low of $83.44 and a 52 week high of $127.89.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, November 19th. The retailer reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.07. The business had revenue of $25.27 billion for the quarter, compared to analysts’ expectations of $25.44 billion. Target had a return on equity of 22.74% and a net margin of 3.58%.The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the firm earned $1.85 earnings per share. On average, research analysts predict that Target will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Wednesday, February 11th will be paid a $1.14 dividend. The ex-dividend date is Wednesday, February 11th. This represents a $4.56 dividend on an annualized basis and a yield of 3.9%. Target’s dividend payout ratio (DPR) is currently 55.34%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Brighton Jones LLC raised its holdings in Target by 101.3% during the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock worth $822,000 after purchasing an additional 3,059 shares in the last quarter. Woodline Partners LP grew its position in shares of Target by 39.9% in the 1st quarter. Woodline Partners LP now owns 38,712 shares of the retailer’s stock valued at $4,040,000 after buying an additional 11,047 shares during the last quarter. Koshinski Asset Management Inc. raised its stake in Target by 10.4% during the 2nd quarter. Koshinski Asset Management Inc. now owns 7,876 shares of the retailer’s stock worth $777,000 after acquiring an additional 744 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Target during the 2nd quarter worth $16,504,000. Finally, Cidel Asset Management Inc. lifted its position in Target by 12.4% in the second quarter. Cidel Asset Management Inc. now owns 7,165 shares of the retailer’s stock valued at $707,000 after acquiring an additional 790 shares during the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Company Profile

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.