Target Co. (NYSE:TGT) Receives Consensus Recommendation of “Buy” from Analysts

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Shares of Target Co. (NYSE:TGT) have been assigned an average recommendation of “Buy” from the twenty-four analysts that are presently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and eighteen have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $103.75.

Several research analysts have recently issued reports on TGT shares. Guggenheim reiterated a “hold” rating on shares of Target in a report on Wednesday, August 21st. Credit Suisse Group set a $90.00 price objective on shares of Target and gave the company a “buy” rating in a report on Thursday, May 23rd. Morgan Stanley increased their price objective on shares of Target from $76.00 to $107.00 and gave the company an “equal weight” rating in a report on Thursday, August 22nd. Bank of America increased their price objective on shares of Target from $105.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, UBS Group increased their price objective on shares of Target from $86.00 to $103.00 and gave the company a “neutral” rating in a report on Thursday, August 22nd.

Shares of NYSE:TGT traded up $0.90 during trading hours on Thursday, hitting $107.87. The stock had a trading volume of 2,896,479 shares, compared to its average volume of 5,292,230. The stock’s fifty day simple moving average is $96.58 and its 200 day simple moving average is $85.29. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.21 and a current ratio of 0.84. The firm has a market capitalization of $54.65 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 2.47 and a beta of 0.53. Target has a 1-year low of $60.15 and a 1-year high of $110.94.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 21st. The retailer reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.21. The business had revenue of $18.42 billion during the quarter, compared to analysts’ expectations of $18.32 billion. Target had a net margin of 4.10% and a return on equity of 27.43%. The business’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the firm posted $1.47 earnings per share. As a group, research analysts anticipate that Target will post 6.13 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 2.45%. Target’s payout ratio is 48.98%.

In related news, insider Cathy R. Smith sold 8,412 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $104.40, for a total value of $878,212.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Edward Mcnamara sold 11,891 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $88.79, for a total transaction of $1,055,801.89. The disclosure for this sale can be found here. Insiders have sold 93,369 shares of company stock valued at $9,751,164 over the last 90 days. 0.24% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Krane Funds Advisors LLC purchased a new stake in shares of Target in the 2nd quarter valued at approximately $25,000. Advisory Alpha LLC purchased a new stake in shares of Target in the 1st quarter valued at approximately $30,000. Icon Wealth Partners LLC purchased a new stake in shares of Target in the 1st quarter valued at approximately $31,000. Larson Financial Group LLC purchased a new stake in shares of Target in the 2nd quarter valued at approximately $31,000. Finally, Phocas Financial Corp. purchased a new stake in shares of Target in the 2nd quarter valued at approximately $33,000. Institutional investors and hedge funds own 81.82% 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; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.

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Analyst Recommendations for Target (NYSE:TGT)

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