Target (TGT) Now Covered by Moffett Nathanson
Moffett Nathanson started coverage on shares of Target (NYSE:TGT) in a research report sent to investors on Monday, Marketbeat.com reports. The brokerage issued a neutral rating on the retailer’s stock.
Several other analysts have also recently commented on TGT. TheStreet upgraded shares of Target from a c+ rating to a b rating in a research note on Thursday, September 28th. MKM Partners lifted their price objective on shares of Target from $58.00 to $69.00 and gave the company a buy rating in a research note on Thursday, August 17th. Vetr upgraded shares of Target from a hold rating to a buy rating and set a $59.67 price objective for the company in a research note on Monday, August 14th. BidaskClub upgraded shares of Target from a hold rating to a buy rating in a research note on Sunday, August 6th. Finally, Zacks Investment Research upgraded shares of Target from a hold rating to a buy rating and set a $63.00 price objective for the company in a research note on Tuesday, October 10th. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $63.25.
Target (NYSE TGT) traded up $0.37 during trading hours on Monday, reaching $61.09. 3,965,300 shares of the company’s stock traded hands, compared to its average volume of 7,417,985. The stock has a market cap of $33,005.73, a P/E ratio of 12.65, a PEG ratio of 7.51 and a beta of 0.64. Target has a 12 month low of $48.56 and a 12 month high of $78.42. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.27 and a current ratio of 0.96.
Target (NYSE:TGT) last released its earnings results on Wednesday, November 15th. The retailer reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.05. The company had revenue of $16.67 billion for the quarter, compared to the consensus estimate of $16.61 billion. Target had a net margin of 3.80% and a return on equity of 24.09%. Target’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.04 EPS. research analysts anticipate that Target will post 4.54 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend is Tuesday, November 14th. Target’s payout ratio is 51.88%.
In other news, insider Hourigan Rice Jacqueline sold 4,679 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $59.37, for a total transaction of $277,792.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Heritage Trust Co grew its holdings in shares of Target by 129.7% in the third quarter. Heritage Trust Co now owns 1,771 shares of the retailer’s stock valued at $105,000 after purchasing an additional 1,000 shares during the period. SevenBridge Financial Group LLC grew its holdings in shares of Target by 2,200.0% in the third quarter. SevenBridge Financial Group LLC now owns 1,909 shares of the retailer’s stock valued at $113,000 after purchasing an additional 1,826 shares during the period. Parallel Advisors LLC grew its holdings in shares of Target by 23.8% in the second quarter. Parallel Advisors LLC now owns 2,072 shares of the retailer’s stock valued at $117,000 after purchasing an additional 399 shares during the period. Jacobi Capital Management LLC grew its holdings in shares of Target by 109.8% in the third quarter. Jacobi Capital Management LLC now owns 2,503 shares of the retailer’s stock valued at $141,000 after purchasing an additional 1,310 shares during the period. Finally, Kistler Tiffany Companies LLC grew its holdings in shares of Target by 19.1% in the second quarter. Kistler Tiffany Companies LLC now owns 2,775 shares of the retailer’s stock valued at $145,000 after purchasing an additional 445 shares during the period. 87.41% of the stock is owned by hedge funds and other institutional investors.
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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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