MKM Partners Begins Coverage on Target Corporation (TGT)
Investment analysts at MKM Partners started coverage on shares of Target Corporation (NYSE:TGT) in a report released on Wednesday. The firm set a “buy” rating and a $85.00 price target on the retailer’s stock. MKM Partners’ price target would indicate a potential upside of 41.60% from the stock’s previous close.
Several other research analysts also recently commented on TGT. UBS AG reaffirmed a “neutral” rating and issued a $56.00 price objective (down previously from $60.00) on shares of Target Corporation in a research note on Tuesday, June 20th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $59.00 price objective on shares of Target Corporation in a research note on Tuesday, June 20th. BidaskClub downgraded Target Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. Citigroup Inc. downgraded Target Corporation from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $51.00 to $56.00 in a research note on Wednesday, June 21st. Finally, Vetr downgraded Target Corporation from a “strong-buy” rating to a “buy” rating and set a $58.97 price objective on the stock. in a research note on Friday, July 14th. Five equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $63.75.
Target Corporation (TGT) traded down 0.23% during trading on Wednesday, reaching $60.03. 3,538,579 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $58.05 and a 200-day moving average of $55.55. Target Corporation has a 12 month low of $48.56 and a 12 month high of $79.33. The stock has a market cap of $32.79 billion, a PE ratio of 12.13 and a beta of 0.62.
Target Corporation (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 16th. The retailer reported $1.23 EPS for the quarter, topping the consensus estimate of $1.20 by $0.03. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%. The firm had revenue of $16.43 billion for the quarter, compared to the consensus estimate of $16.30 billion. During the same quarter last year, the company earned $1.23 earnings per share. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities research analysts anticipate that Target Corporation will post $4.51 earnings per share for the current fiscal year.
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In other Target Corporation news, insider Hourigan Rice Jacqueline sold 4,679 shares of Target Corporation stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $59.37, for a total value of $277,792.23. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Fulton Bank N.A. boosted its holdings in shares of Target Corporation by 43.2% in the 3rd quarter. Fulton Bank N.A. now owns 7,795 shares of the retailer’s stock worth $460,000 after purchasing an additional 2,352 shares during the period. Curbstone Financial Management Corp boosted its holdings in shares of Target Corporation by 108.0% in the 3rd quarter. Curbstone Financial Management Corp now owns 15,158 shares of the retailer’s stock worth $894,000 after purchasing an additional 7,870 shares during the period. Park National Corp OH boosted its holdings in shares of Target Corporation by 3.9% in the 3rd quarter. Park National Corp OH now owns 418,243 shares of the retailer’s stock worth $24,680,000 after purchasing an additional 15,801 shares during the period. Intl Fcstone Inc. purchased a new position in shares of Target Corporation in the 2nd quarter worth approximately $291,000. Finally, Griffin Asset Management Inc. purchased a new position in shares of Target Corporation in the 2nd quarter worth approximately $3,689,000. 83.23% of the stock is currently owned by institutional investors and hedge funds.
Target Corporation Company Profile
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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