Target (TGT) Upgraded to Market Perform at Wolfe Research

Wolfe Research upgraded shares of Target (NYSE:TGT) from an underperform rating to a market perform rating in a research note released on Monday, The Fly reports.

Other equities research analysts have also issued reports about the stock. MKM Partners set a $93.00 price target on shares of Target and gave the company a buy rating in a report on Friday, January 12th. ValuEngine raised shares of Target from a hold rating to a buy rating in a report on Tuesday, February 13th. Credit Suisse Group started coverage on shares of Target in a report on Monday, March 5th. They set a buy rating and a $86.00 price target on the stock. Susquehanna Bancshares set a $95.00 price target on shares of Target and gave the company a buy rating in a report on Monday, March 5th. Finally, Vetr raised shares of Target from a hold rating to a buy rating and set a $75.42 price target on the stock in a report on Tuesday, March 6th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Hold and an average target price of $74.20.

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Shares of Target stock opened at $72.00 on Monday. The company has a market cap of $38,876.32, a P/E ratio of 15.29, a P/E/G ratio of 3.01 and a beta of 0.73. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.30 and a current ratio of 0.95. Target has a 1 year low of $48.56 and a 1 year high of $78.70.

Target (NYSE:TGT) last announced its quarterly earnings results on Tuesday, March 6th. The retailer reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.02). The company had revenue of $22.77 billion for the quarter, compared to the consensus estimate of $22.56 billion. Target had a net margin of 4.08% and a return on equity of 23.04%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the firm posted $1.45 earnings per share. equities research analysts forecast that Target will post 5.29 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 10th. Stockholders of record on Wednesday, May 16th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.44%. Target’s dividend payout ratio (DPR) is currently 52.65%.

In other news, insider Robert M. Harrison sold 8,557 shares of the business’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $76.74, for a total value of $656,664.18. Following the transaction, the insider now owns 13,288 shares in the company, valued at approximately $1,019,721.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephanie A. Lundquist sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $78.08, for a total transaction of $234,240.00. Following the completion of the transaction, the insider now owns 16,906 shares in the company, valued at approximately $1,320,020.48. The disclosure for this sale can be found here. Insiders sold a total of 129,930 shares of company stock worth $9,102,439 in the last 90 days. Corporate insiders own 0.20% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Westside Investment Management Inc. lifted its position in shares of Target by 128.6% during the 4th quarter. Westside Investment Management Inc. now owns 1,600 shares of the retailer’s stock valued at $107,000 after acquiring an additional 900 shares during the period. Security Asset Management acquired a new position in shares of Target during the 4th quarter valued at $115,000. First Mercantile Trust Co. acquired a new position in shares of Target during the 4th quarter valued at $124,000. SWS Partners acquired a new position in shares of Target during the 4th quarter valued at $132,000. Finally, Independence Bank of Kentucky acquired a new position in shares of Target during the 4th quarter valued at $147,000. Hedge funds and other institutional investors own 87.02% of the company’s stock.

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Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.

The Fly

Analyst Recommendations for Target (NYSE:TGT)

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