Target Corp. (TGT) Downgraded by Vetr Inc.
Vetr downgraded shares of Target Corp. (NYSE:TGT) from a strong-buy rating to a buy rating in a research note issued to investors on Monday. The brokerage currently has $74.42 price target on the retailer’s stock.
Other research analysts have also issued research reports about the company. Goldman Sachs Group Inc. restated a hold rating on shares of Target Corp. in a research report on Sunday, May 22nd. Telsey Advisory Group reduced their price objective on Target Corp. from $88.00 to $82.00 and set an outperform rating for the company in a research report on Thursday, August 18th. Zacks Investment Research lowered Target Corp. from a hold rating to a sell rating in a research report on Friday, July 15th. Cowen and Company restated an outperform rating and set a $75.00 price objective (down previously from $81.00) on shares of Target Corp. in a research report on Wednesday, August 17th. Finally, Piper Jaffray Cos. restated an overweight rating and set a $86.00 price objective on shares of Target Corp. in a research report on Wednesday, August 17th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $77.12.
Shares of Target Corp. (NYSE:TGT) opened at 69.47 on Monday. The firm has a 50-day moving average price of $71.25 and a 200 day moving average price of $74.54. The firm has a market cap of $39.93 billion, a price-to-earnings ratio of 12.86 and a beta of 0.68. Target Corp. has a 12-month low of $65.50 and a 12-month high of $84.14.
Target Corp. (NYSE:TGT) last issued its earnings results on Wednesday, August 17th. The retailer reported $1.23 EPS for the quarter, topping the consensus estimate of $1.12 by $0.11. The company earned $16.20 billion during the quarter. Target Corp. had a return on equity of 23.59% and a net margin of 4.59%. Target Corp.’s revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.22 EPS. On average, equities research analysts anticipate that Target Corp. will post $4.96 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Wednesday, November 16th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.45%. Target Corp.’s dividend payout ratio (DPR) is presently 44.44%.
A number of large investors have recently added to or reduced their stakes in TGT. BlackRock Institutional Trust Company N.A. raised its stake in Target Corp. by 3.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 17,687,488 shares of the retailer’s stock worth $1,455,327,000 after buying an additional 603,599 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Target Corp. by 13.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 13,035,746 shares of the retailer’s stock worth $910,156,000 after buying an additional 1,545,167 shares during the period. Dodge & Cox raised its stake in Target Corp. by 12.9% in the second quarter. Dodge & Cox now owns 11,757,005 shares of the retailer’s stock worth $820,874,000 after buying an additional 1,341,678 shares during the period. BlackRock Fund Advisors raised its stake in Target Corp. by 2.4% in the second quarter. BlackRock Fund Advisors now owns 8,183,360 shares of the retailer’s stock worth $571,362,000 after buying an additional 189,882 shares during the period. Finally, BlackRock Group LTD raised its stake in Target Corp. by 3.9% in the second quarter. BlackRock Group LTD now owns 6,339,423 shares of the retailer’s stock worth $442,618,000 after buying an additional 236,371 shares during the period. Institutional investors and hedge funds own 86.19% of the company’s stock.
About Target Corp.
Target Corporation offers everyday essentials and merchandise to its customers. The Company sells a range of general merchandise and food through its store and digital channels. The Company’s general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items.
To view Vetr’s full report, visit Vetr’s official website.
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