Nomura Reiterates “$75.00” Price Target for Target Corp. (TGT)
TGT has been the topic of a number of other research reports. Morgan Stanley set a $64.00 price objective on Target Corp. and gave the stock a sell rating in a research note on Friday, August 19th. Vetr cut Target Corp. from a strong-buy rating to a buy rating and set a $77.55 price target on the stock. in a research note on Monday, September 12th. Argus restated a hold rating on shares of Target Corp. in a research note on Thursday, September 8th. Credit Suisse Group AG assumed coverage on Target Corp. in a research note on Friday, September 16th. They issued a neutral rating and a $65.00 price target on the stock. Finally, Barclays PLC restated an underweight rating and issued a $60.00 price target on shares of Target Corp. in a research note on Friday, September 23rd. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and nine have issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $74.49.
Shares of Target Corp. (NYSE:TGT) opened at 67.86 on Friday. The firm has a market cap of $39.01 billion, a P/E ratio of 12.56 and a beta of 0.68. Target Corp. has a 52 week low of $65.50 and a 52 week high of $84.14. The stock has a 50 day moving average of $69.18 and a 200 day moving average of $73.15.
Target Corp. (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 17th. The retailer reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.11. Target Corp. had a return on equity of 23.59% and a net margin of 4.59%. The company had revenue of $16.20 billion for the quarter. During the same quarter in the prior year, the company earned $1.22 EPS. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. Equities analysts forecast that Target Corp. will post $4.95 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders of record on Wednesday, November 16th will be given a $0.60 dividend. The ex-dividend date is Monday, November 14th. This represents a $2.40 annualized dividend and a yield of 3.54%. Target Corp.’s dividend payout ratio is presently 44.44%.
A number of institutional investors have recently bought and sold shares of TGT. BlackRock Institutional Trust Company N.A. increased its position 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 valued at $1,455,327,000 after buying an additional 603,599 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position 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 valued at $910,156,000 after buying an additional 1,545,167 shares in the last quarter. Dodge & Cox increased its position in Target Corp. by 12.9% in the second quarter. Dodge & Cox now owns 11,757,005 shares of the retailer’s stock valued at $820,874,000 after buying an additional 1,341,678 shares in the last quarter. BlackRock Fund Advisors increased its position in Target Corp. by 2.4% in the second quarter. BlackRock Fund Advisors now owns 8,183,360 shares of the retailer’s stock valued at $571,362,000 after buying an additional 189,882 shares in the last quarter. Finally, BlackRock Group LTD increased its position in Target Corp. by 3.9% in the second quarter. BlackRock Group LTD now owns 6,339,423 shares of the retailer’s stock valued at $442,618,000 after buying an additional 236,371 shares in the last quarter. Hedge funds and other institutional investors own 86.18% 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.
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