Target Corporation’s (TGT) Neutral Rating Reaffirmed at Robert W. Baird
Robert W. Baird reaffirmed their neutral rating on shares of Target Corporation (NYSE:TGT) in a research note published on Friday. The brokerage currently has a $55.00 price target on the retailer’s stock.
A number of other analysts have also commented on TGT. Zacks Investment Research lowered Target Corporation from a hold rating to a strong sell rating in a research report on Monday, March 20th. TheStreet lowered Target Corporation from a b- rating to a c+ rating in a research report on Monday, March 27th. Vetr lowered Target Corporation from a strong-buy rating to a buy rating and set a $60.11 target price for the company. in a research report on Monday, April 10th. Buckingham Research reaffirmed a buy rating and issued a $71.00 target price on shares of Target Corporation in a research report on Wednesday, April 19th. Finally, Gordon Haskett initiated coverage on Target Corporation in a research report on Tuesday, May 9th. They issued a sell rating and a $47.00 target price for the company. Seven analysts have rated the stock with a sell rating, seventeen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Hold and an average price target of $62.93.
Target Corporation (TGT) traded up 0.94% on Friday, hitting $53.73. The stock had a trading volume of 12,487,976 shares. Target Corporation has a 52 week low of $48.56 and a 52 week high of $79.33. The company has a 50-day moving average price of $54.35 and a 200-day moving average price of $60.17. The stock has a market capitalization of $29.64 billion, a price-to-earnings ratio of 11.01 and a beta of 0.60.
Target Corporation (NYSE:TGT) last issued its earnings results on Wednesday, May 17th. The retailer reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.30. Target Corporation had a return on equity of 25.17% and a net margin of 4.02%. The business had revenue of $16.02 billion during the quarter, compared to analyst estimates of $15.63 billion. During the same period in the previous year, the company posted $1.29 EPS. The firm’s revenue was down 1.1% compared to the same quarter last year. Equities research analysts anticipate that Target Corporation will post $4.36 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Monday, August 14th. This represents a $2.48 annualized dividend and a dividend yield of 4.62%. This is a boost from Target Corporation’s previous quarterly dividend of $0.60. Target Corporation’s dividend payout ratio is presently 48.98%.
In other news, insider Robert M. Harrison sold 2,639 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $52.05, for a total value of $137,359.95. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. United Capital Financial Advisers LLC boosted its position in Target Corporation by 7.2% in the fourth quarter. United Capital Financial Advisers LLC now owns 86,347 shares of the retailer’s stock valued at $6,237,000 after buying an additional 5,836 shares during the last quarter. Boothbay Fund Management LLC purchased a new position in Target Corporation during the fourth quarter valued at $288,000. Cigna Investments Inc. New purchased a new position in Target Corporation during the fourth quarter valued at $1,516,000. Ladenburg Thalmann Financial Services Inc. boosted its position in Target Corporation by 34.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 76,788 shares of the retailer’s stock valued at $5,520,000 after buying an additional 19,473 shares during the last quarter. Finally, Guggenheim Capital LLC boosted its position in Target Corporation by 10.8% in the fourth quarter. Guggenheim Capital LLC now owns 933,698 shares of the retailer’s stock valued at $67,441,000 after buying an additional 90,754 shares during the last quarter. 83.21% of the stock is currently owned by hedge funds and other institutional investors.
Target Corporation Company Profile
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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