Target Co. (NYSE:TGT) Given Consensus Recommendation of “Buy” by Analysts

Shares of Target Co. (NYSE:TGT) have been assigned an average rating of “Buy” from the twenty-three analysts that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $261.76.

Several research firms have weighed in on TGT. Credit Suisse Group began coverage on shares of Target in a research report on Friday, November 19th. They issued an “outperform” rating and a $286.00 price objective for the company. Telsey Advisory Group lifted their price objective on shares of Target from $265.00 to $305.00 and gave the stock an “outperform” rating in a research note on Friday, August 13th. DA Davidson reissued a “buy” rating on shares of Target in a research note on Thursday, August 19th. The Goldman Sachs Group lifted their price objective on shares of Target from $281.00 to $308.00 and gave the stock a “buy” rating in a research note on Tuesday, October 19th. Finally, Citigroup lifted their price objective on shares of Target from $258.00 to $287.00 and gave the stock a “buy” rating in a research note on Thursday, August 19th.

Shares of TGT traded down $0.42 during mid-day trading on Friday, hitting $248.76. 3,051,972 shares of the company’s stock were exchanged, compared to its average volume of 3,363,392. The firm has a fifty day moving average of $247.07 and a two-hundred day moving average of $243.89. Target has a twelve month low of $166.82 and a twelve month high of $268.98. The stock has a market cap of $121.40 billion, a price-to-earnings ratio of 19.81, a P/E/G ratio of 1.42 and a beta of 1.03. The company has a quick ratio of 0.46, a current ratio of 1.04 and a debt-to-equity ratio of 0.78.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 17th. The retailer reported $3.03 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.20. Target had a net margin of 6.29% and a return on equity of 44.68%. The company had revenue of $25.29 billion during the quarter, compared to the consensus estimate of $24.60 billion. During the same period last year, the firm earned $2.79 EPS. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. On average, equities analysts predict that Target will post 12.97 earnings per share for the current year.

Target declared that its board has approved a stock buyback plan on Wednesday, August 18th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the retailer to purchase up to 12.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 10th. Shareholders of record on Wednesday, November 17th will be issued a $0.90 dividend. The ex-dividend date is Tuesday, November 16th. This represents a $3.60 annualized dividend and a dividend yield of 1.45%. Target’s dividend payout ratio is currently 28.66%.

In related news, insider Christina Hennington sold 4,173 shares of the company’s stock in a transaction dated Friday, November 19th. The shares were sold at an average price of $250.95, for a total transaction of $1,047,214.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brian C. Cornell sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 2nd. The stock was sold at an average price of $245.98, for a total transaction of $6,149,500.00. Following the sale, the insider now directly owns 195,271 shares of the company’s stock, valued at approximately $48,032,760.58. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the company. Moors & Cabot Inc. increased its stake in shares of Target by 111.0% in the third quarter. Moors & Cabot Inc. now owns 25,000 shares of the retailer’s stock valued at $25,000 after buying an additional 13,149 shares during the period. Mascoma Wealth Management LLC acquired a new position in shares of Target in the third quarter valued at approximately $28,000. Emerald Advisers LLC acquired a new stake in Target during the 2nd quarter valued at approximately $31,000. Atwood & Palmer Inc. increased its position in Target by 458.3% during the 3rd quarter. Atwood & Palmer Inc. now owns 134 shares of the retailer’s stock valued at $31,000 after purchasing an additional 110 shares during the period. Finally, Holloway Wealth Management LLC increased its position in Target by 166.0% during the 2nd quarter. Holloway Wealth Management LLC now owns 133 shares of the retailer’s stock valued at $32,000 after purchasing an additional 83 shares during the period. 78.36% of the stock is owned by hedge funds and other institutional investors.

Target Company Profile

Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.

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Analyst Recommendations for Target (NYSE:TGT)

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