Target Corporation (NYSE:TGT) Rating Lowered to Hold at Vetr Inc.
Target Corporation (NYSE:TGT) was downgraded by investment analysts at Vetr from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday. They presently have a $59.67 target price on the retailer’s stock. Vetr‘s price objective points to a potential upside of 3.09% from the stock’s previous close.
Other equities research analysts have also recently issued research reports about the stock. UBS AG reaffirmed a “neutral” rating and set a $56.00 price objective (down previously from $60.00) on shares of Target Corporation in a research note on Tuesday, June 20th. Citigroup Inc. cut shares of Target Corporation from a “buy” rating to a “neutral” rating and lifted their price target for the company from $51.00 to $56.00 in a research note on Wednesday, June 21st. Jefferies Group LLC reaffirmed a “hold” rating and set a $59.00 target price (up previously from $56.00) on shares of Target Corporation in a research note on Friday, May 19th. BMO Capital Markets lifted their target price on shares of Target Corporation from $60.00 to $62.00 and gave the stock a “market perform” rating in a research note on Friday, July 14th. Finally, BidaskClub raised shares of Target Corporation from a “hold” rating to a “buy” rating in a research note on Sunday. Six investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have given a buy rating to the stock. Target Corporation currently has an average rating of “Hold” and a consensus price target of $61.99.
Shares of Target Corporation (NYSE:TGT) traded up 0.52% on Monday, reaching $57.88. 3,904,191 shares of the company’s stock traded hands. The company’s 50-day moving average price is $53.26 and its 200 day moving average price is $56.79. Target Corporation has a one year low of $48.56 and a one year high of $79.33. The firm has a market cap of $31.93 billion, a P/E ratio of 11.86 and a beta of 0.61.
Target Corporation (NYSE:TGT) last announced its quarterly earnings data on Wednesday, May 17th. The retailer reported $1.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.30. The firm had revenue of $16.02 billion during the quarter, compared to analyst estimates of $15.63 billion. Target Corporation had a net margin of 4.02% and a return on equity of 25.17%. Target Corporation’s revenue was down 1.1% on a year-over-year basis. During the same period last year, the firm posted $1.29 EPS. On average, equities analysts forecast that Target Corporation will post $4.37 EPS for the current fiscal year.
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In other news, insider Robert M. Harrison sold 2,639 shares of Target Corporation stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total value of $137,359.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of TGT. BlackRock Inc. boosted its stake in Target Corporation by 2,069.0% in the first quarter. BlackRock Inc. now owns 47,046,403 shares of the retailer’s stock worth $2,596,495,000 after buying an additional 44,877,391 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Target Corporation by 14.2% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 10,307,951 shares of the retailer’s stock worth $568,896,000 after buying an additional 1,279,077 shares in the last quarter. Prudential Financial Inc. boosted its stake in Target Corporation by 43.4% in the second quarter. Prudential Financial Inc. now owns 3,778,242 shares of the retailer’s stock worth $197,565,000 after buying an additional 1,143,598 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Target Corporation by 11.6% in the first quarter. Bank of New York Mellon Corp now owns 9,555,703 shares of the retailer’s stock worth $527,380,000 after buying an additional 996,689 shares in the last quarter. Finally, Smead Capital Management Inc. bought a new stake in Target Corporation during the second quarter worth about $41,667,000. Institutional investors own 82.63% of the company’s stock.
About Target Corporation
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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