Target (TGT) Rating Increased to Buy at ValuEngine

ValuEngine upgraded shares of Target (NYSE:TGT) from a hold rating to a buy rating in a report published on Monday.

Several other brokerages also recently issued reports on TGT. Vetr downgraded shares of Target from a hold rating to a sell rating and set a $73.66 price objective on the stock. in a research report on Thursday, February 15th. Robert W. Baird raised shares of Target from a neutral rating to an outperform rating and raised their price objective for the stock from $75.00 to $85.00 in a research report on Wednesday, February 14th. Credit Suisse Group initiated coverage on shares of Target in a research report on Monday, March 5th. They set a buy rating and a $86.00 price objective on the stock. Citigroup reissued a neutral rating and set a $80.00 price objective (down from $86.00) on shares of Target in a research report on Friday, February 16th. Finally, Telsey Advisory Group lowered their price objective on shares of Target from $83.00 to $80.00 and set a market perform rating on the stock in a research report on Wednesday, March 7th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $74.37.

Shares of Target stock opened at $75.83 on Monday. Target has a 1 year low of $73.97 and a 1 year high of $75.64. The company has a current ratio of 0.95, a quick ratio of 0.30 and a debt-to-equity ratio of 0.97. The firm has a market cap of $40.32 billion, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of 2.72 and a beta of 0.71.

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

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 10th. Stockholders of record on Wednesday, May 16th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Tuesday, May 15th. Target’s payout ratio is 52.65%.

In related news, insider John J. Mulligan sold 118,373 shares of the firm’s stock in a transaction dated Tuesday, April 3rd. The shares were sold at an average price of $69.37, for a total value of $8,211,535.01. Following the completion of the sale, the insider now owns 195,906 shares in the company, valued at $13,589,999.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Don H. Liu sold 2,735 shares of the firm’s stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $75.00, for a total transaction of $205,125.00. Following the completion of the sale, the insider now owns 62,210 shares of the company’s stock, valued at approximately $4,665,750. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its position in Target by 9.4% during the fourth quarter. Bank of New York Mellon Corp now owns 10,654,835 shares of the retailer’s stock worth $695,229,000 after acquiring an additional 916,178 shares during the last quarter. LSV Asset Management raised its position in Target by 9.0% during the first quarter. LSV Asset Management now owns 7,405,839 shares of the retailer’s stock worth $514,187,000 after acquiring an additional 610,674 shares during the last quarter. American Century Companies Inc. raised its position in Target by 17.1% during the first quarter. American Century Companies Inc. now owns 7,098,208 shares of the retailer’s stock worth $492,829,000 after acquiring an additional 1,038,937 shares during the last quarter. Geode Capital Management LLC raised its position in Target by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 6,161,995 shares of the retailer’s stock worth $401,296,000 after acquiring an additional 109,029 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Target by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 4,160,156 shares of the retailer’s stock worth $288,826,000 after acquiring an additional 72,185 shares during the last quarter. Hedge funds and other institutional investors own 88.98% of the company’s stock.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Target (NYSE:TGT)

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