Target (NYSE:TGT) Given New $90.00 Price Target at Truist Financial

Target (NYSE:TGT) had its target price hoisted by Truist Financial from $83.00 to $90.00 in a research note issued to investors on Thursday,Benzinga reports. Truist Financial currently has a hold rating on the retailer’s stock.

A number of other research firms have also weighed in on TGT. Wolfe Research initiated coverage on shares of Target in a research report on Thursday, September 18th. They issued an “underperform” rating and a $80.00 price objective on the stock. Wall Street Zen upgraded shares of Target from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. Guggenheim reiterated a “buy” rating and set a $115.00 target price on shares of Target in a research report on Monday, October 27th. Mizuho reduced their price target on Target from $94.00 to $88.00 and set a “neutral” rating for the company in a report on Thursday. Finally, UBS Group decreased their price target on Target from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, August 21st. Ten analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $102.97.

Target Stock Up 3.5%

NYSE TGT traded up $2.93 on Thursday, hitting $86.61. 3,269,024 shares of the stock were exchanged, compared to its average volume of 7,348,883. Target has a fifty-two week low of $83.44 and a fifty-two week high of $145.08. The company has a 50-day moving average price of $90.18 and a 200-day moving average price of $95.93. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99. The company has a market cap of $39.36 billion, a PE ratio of 10.11, a PEG ratio of 2.74 and a beta of 1.19.

Target (NYSE:TGT) last released 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 company had revenue of $25.28 billion during the quarter, compared to the consensus estimate of $25.44 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. Target’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.85 earnings per share. Target has set its FY 2025 guidance at 7.000-8.000 EPS. Sell-side analysts anticipate that Target will post 8.69 EPS for the current fiscal year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be issued a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 5.3%. The ex-dividend date is Wednesday, November 12th. This is a positive change from Target’s previous quarterly dividend of $1.12. Target’s dividend payout ratio (DPR) is presently 53.15%.

Institutional Investors Weigh In On Target

Several hedge funds and other institutional investors have recently bought and sold shares of TGT. WFA of San Diego LLC bought a new stake in shares of Target in the 2nd quarter worth about $25,000. Raleigh Capital Management Inc. lifted its position in shares of Target by 63.4% in the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock worth $26,000 after buying an additional 102 shares during the last quarter. Kozak & Associates Inc. lifted its holdings in Target by 2,530.0% in the second quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock worth $27,000 after acquiring an additional 253 shares during the last quarter. Heartwood Wealth Advisors LLC acquired a new position in Target in the third quarter valued at approximately $27,000. Finally, Investment Research & Advisory Group Inc. bought a new position in shares of Target during the second quarter valued at approximately $29,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

About Target

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.