Target Co. (TGT) Receives Average Rating of “Hold” from Brokerages
Shares of Target Co. (NYSE:TGT) have been given a consensus rating of “Hold” by the thirty-two research firms that are presently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a sell recommendation, fourteen have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $64.76.
A number of analysts have weighed in on TGT shares. Sanford C. Bernstein started coverage on Target in a research note on Monday, February 6th. They issued an “outperform” rating and a $77.00 target price on the stock. Buckingham Research restated a “buy” rating and set a $71.00 price target on shares of Target in a research note on Wednesday, April 19th. Barclays PLC cut their price target on Target from $60.00 to $50.00 and set an “underweight” rating on the stock in a research note on Wednesday, March 1st. Zacks Investment Research upgraded Target from a “sell” rating to a “hold” rating in a research note on Monday, May 15th. Finally, Gordon Haskett began coverage on Target in a research note on Tuesday, May 9th. They set a “sell” rating and a $47.00 price target on the stock.
Target (TGT) traded down 1.89% during mid-day trading on Tuesday, reaching $54.58. 6,395,079 shares of the company traded hands. Target has a 12-month low of $52.72 and a 12-month high of $79.33. The company’s 50 day moving average price is $55.55 and its 200 day moving average price is $62.98. The firm has a market capitalization of $30.11 billion, a P/E ratio of 11.18 and a beta of 0.63.
Target (NYSE:TGT) last released its earnings results on Wednesday, May 17th. The retailer reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.30. Target had a return on equity of 25.18% and a net margin of 4.75%. The business had revenue of $16.02 billion for the quarter, compared to analyst estimates of $15.63 billion. During the same quarter last year, the firm posted $1.29 earnings per share. The business’s revenue was down 1.1% compared to the same quarter last year. Equities research analysts predict that Target will post $4.24 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 10th. Stockholders of record on Wednesday, May 17th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.40%. The ex-dividend date of this dividend is Monday, May 15th. Target’s payout ratio is 42.93%.
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In other news, Director Donald R. Knauss acquired 10,000 shares of Target stock in a transaction dated Thursday, March 9th. The stock was purchased at an average cost of $54.86 per share, for a total transaction of $548,600.00. Following the completion of the purchase, the director now directly owns 16,431 shares in the company, valued at approximately $901,404.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.25% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Tompkins Financial Corp boosted its position in shares of Target by 84.0% in the first quarter. Tompkins Financial Corp now owns 1,711 shares of the retailer’s stock valued at $141,000 after buying an additional 781 shares during the last quarter. Cribstone Capital Management LLC boosted its position in shares of Target by 114.2% in the first quarter. Cribstone Capital Management LLC now owns 1,906 shares of the retailer’s stock valued at $101,000 after buying an additional 1,016 shares during the last quarter. Reilly Financial Advisors LLC boosted its position in shares of Target by 77.6% in the first quarter. Reilly Financial Advisors LLC now owns 2,000 shares of the retailer’s stock valued at $110,000 after buying an additional 874 shares during the last quarter. Pinnacle Bank purchased a new position in shares of Target during the first quarter valued at about $123,000. Finally, Peoples Financial Services CORP. boosted its position in shares of Target by 116.7% in the first quarter. Peoples Financial Services CORP. now owns 2,275 shares of the retailer’s stock valued at $125,000 after buying an additional 1,225 shares during the last quarter. Hedge funds and other institutional investors own 88.53% of the company’s stock.
Target 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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