Target (TGT) Upgraded to “Positive” at Deutsche Bank
Deutsche Bank upgraded shares of Target (NYSE:TGT) from a neutral rating to a positive rating in a report published on Wednesday. Deutsche Bank currently has $70.00 target price on the retailer’s stock, up from their previous target price of $57.00.
A number of other research analysts also recently commented on the stock. Vetr downgraded shares of Target from a strong-buy rating to a buy rating and set a $64.00 price target for the company. in a report on Monday, November 20th. Zacks Investment Research downgraded shares of Target from a buy rating to a hold rating in a report on Monday, October 23rd. Morgan Stanley lowered their price target on shares of Target from $52.00 to $50.00 and set an underweight rating for the company in a report on Thursday, November 16th. Barclays set a $45.00 price target on shares of Target and gave the company a sell rating in a report on Wednesday, November 15th. Finally, Wells Fargo & Co started coverage on shares of Target in a report on Friday, November 3rd. They issued a market perform rating and a $62.00 price target for the company. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $66.15.
Shares of Target (NYSE:TGT) traded up $2.80 during trading hours on Wednesday, hitting $76.80. 14,842,440 shares of the company were exchanged, compared to its average volume of 7,550,000. The company has a current ratio of 0.96, a quick ratio of 0.27 and a debt-to-equity ratio of 1.01. Target has a 1 year low of $48.56 and a 1 year high of $77.00. The company has a market cap of $41,750.00, a P/E ratio of 16.13, a price-to-earnings-growth ratio of 3.95 and a beta of 0.63.
Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, November 15th. The retailer reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.05. Target had a net margin of 3.80% and a return on equity of 24.09%. The firm had revenue of $16.67 billion during the quarter, compared to the consensus estimate of $16.61 billion. During the same quarter last year, the firm earned $1.04 EPS. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. equities research analysts predict that Target will post 4.73 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Wednesday, February 21st will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Tuesday, February 20th. Target’s dividend payout ratio (DPR) is currently 52.10%.
In other news, Director Roxanne S. Austin sold 4,705 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $62.61, for a total transaction of $294,580.05. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.25% of the company’s stock.
Large investors have recently modified their holdings of the company. Carnick & Kubik Group LLC purchased a new position in shares of Target during the third quarter worth approximately $554,000. CAPROCK Group Inc. purchased a new position in shares of Target during the third quarter worth approximately $832,000. Boston Private Wealth LLC increased its position in shares of Target by 4.5% during the second quarter. Boston Private Wealth LLC now owns 53,455 shares of the retailer’s stock worth $2,795,000 after acquiring an additional 2,285 shares during the period. SignalPoint Asset Management LLC purchased a new position in shares of Target during the third quarter worth approximately $258,000. Finally, Pacer Advisors Inc. increased its position in shares of Target by 6.9% during the third quarter. Pacer Advisors Inc. now owns 37,779 shares of the retailer’s stock worth $2,229,000 after acquiring an additional 2,422 shares during the period. 87.42% of the stock is currently owned by institutional investors and hedge funds.
Target 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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