Target Corp. (TGT) Rating Increased to Hold at Vetr Inc.
Target Corp. (NYSE:TGT) was upgraded by research analysts at Vetr from a “sell” rating to a “hold” rating in a research note issued to investors on Monday. The firm currently has a $77.48 target price on the retailer’s stock. Vetr‘s price objective suggests a potential downside of 1.19% from the stock’s previous close.
Several other research firms have also commented on TGT. Credit Suisse Group AG initiated coverage on shares of Target Corp. in a research report on Friday, September 16th. They issued a “neutral” rating and a $65.00 price objective on the stock. MKM Partners reiterated a “neutral” rating and issued a $78.00 price objective (up from $73.00) on shares of Target Corp. in a research report on Tuesday, August 16th. Nomura set a $75.00 price objective on shares of Target Corp. and gave the stock a “hold” rating in a research report on Thursday, August 18th. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $79.00 price objective on shares of Target Corp. in a research report on Thursday, November 17th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and issued a $86.00 price objective on shares of Target Corp. in a research report on Wednesday, August 17th. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $75.02.
Shares of Target Corp. (NYSE:TGT) opened at 78.41 on Monday. The firm’s 50 day moving average is $70.47 and its 200-day moving average is $70.54. The firm has a market capitalization of $44.20 billion, a PE ratio of 13.95 and a beta of 0.59. 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, November 16th. The retailer reported $1.04 EPS for the quarter, topping the consensus estimate of $0.83 by $0.21. The company had revenue of $16.44 billion for the quarter, compared to analyst estimates of $16.30 billion. Target Corp. had a net margin of 4.75% and a return on equity of 25.18%. The business’s revenue was down 6.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.86 EPS. On average, analysts expect that Target Corp. will post $5.20 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Wednesday, November 16th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.06%. The ex-dividend date is Monday, November 14th. Target Corp.’s dividend payout ratio (DPR) is presently 42.93%.
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In related news, Director Anne M. Mulcahy sold 3,957 shares of the firm’s stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $75.45, for a total transaction of $298,555.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Meritage Portfolio Management boosted its position in shares of Target Corp. by 37.2% in the second quarter. Meritage Portfolio Management now owns 190,926 shares of the retailer’s stock valued at $13,330,000 after buying an additional 51,785 shares during the period. Polaris Greystone Financial Group LLC boosted its position in shares of Target Corp. by 19.4% in the second quarter. Polaris Greystone Financial Group LLC now owns 205,219 shares of the retailer’s stock valued at $14,328,000 after buying an additional 33,308 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of Target Corp. by 6.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,158,318 shares of the retailer’s stock valued at $80,872,000 after buying an additional 69,809 shares during the period. Huntington National Bank boosted its position in shares of Target Corp. by 30.3% in the second quarter. Huntington National Bank now owns 192,968 shares of the retailer’s stock valued at $13,472,000 after buying an additional 44,895 shares during the period. Finally, PGGM Investments boosted its position in shares of Target Corp. by 16.7% in the second quarter. PGGM Investments now owns 857,483 shares of the retailer’s stock valued at $59,869,000 after buying an additional 122,414 shares during the period. Hedge funds and other institutional investors own 84.76% 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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