Evercore ISI Trims Target (NYSE:TGT) Target Price to $180.00

Target (NYSE:TGT) had its price target cut by Evercore ISI from $183.00 to $180.00 in a research report report published on Tuesday, Benzinga reports. They currently have an in-line rating on the retailer’s stock.

Several other equities analysts have also recently commented on TGT. Oppenheimer lifted their target price on shares of Target from $160.00 to $170.00 and gave the stock an outperform rating in a research report on Monday, February 26th. Truist Financial lifted their price target on Target from $142.00 to $160.00 and gave the stock a hold rating in a report on Wednesday, March 6th. HSBC upgraded Target from a hold rating to a buy rating and upped their price objective for the company from $140.00 to $195.00 in a research note on Wednesday, March 6th. BMO Capital Markets lifted their target price on Target from $145.00 to $170.00 and gave the stock a market perform rating in a research note on Wednesday, March 6th. Finally, Barclays increased their price target on shares of Target from $142.00 to $169.00 and gave the company an equal weight rating in a research report on Wednesday, March 6th. Eleven research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $181.85.

Target Price Performance

TGT stock opened at $168.30 on Tuesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.29 and a current ratio of 0.91. The business has a 50-day simple moving average of $163.68 and a two-hundred day simple moving average of $140.95. The company has a market capitalization of $77.70 billion, a P/E ratio of 18.85, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. Target has a 52-week low of $102.93 and a 52-week high of $181.86.

Target (NYSE:TGT) last posted its earnings results on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.57. Target had a return on equity of 33.41% and a net margin of 3.85%. The company had revenue of $31.47 billion for the quarter, compared to analyst estimates of $31.83 billion. During the same quarter last year, the company earned $1.89 earnings per share. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. Research analysts expect that Target will post 9.39 EPS for the current fiscal year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be given a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s dividend payout ratio (DPR) is 49.27%.

Insider Activity at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $167.52, for a total value of $7,538,400.00. Following the completion of the transaction, the insider now owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Target news, insider Christina Hennington sold 4,600 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $170.88, for a total value of $786,048.00. Following the completion of the sale, the insider now owns 38,487 shares of the company’s stock, valued at $6,576,658.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the transaction, the insider now owns 346,919 shares in the company, valued at $58,115,870.88. The disclosure for this sale can be found here. Insiders have sold 52,600 shares of company stock valued at $8,819,598 over the last three months. 0.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Target

Institutional investors have recently made changes to their positions in the business. Moneta Group Investment Advisors LLC boosted its position in Target by 95,980.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 18,537,742 shares of the retailer’s stock valued at $2,762,865,000 after buying an additional 18,518,448 shares during the period. Norges Bank purchased a new stake in Target during the 4th quarter valued at about $759,810,000. International Assets Investment Management LLC grew its position in Target by 15,009.5% during the 4th quarter. International Assets Investment Management LLC now owns 1,757,088 shares of the retailer’s stock worth $250,244,000 after acquiring an additional 1,745,459 shares during the last quarter. Clearbridge Investments LLC increased its stake in Target by 37,301.2% in the 3rd quarter. Clearbridge Investments LLC now owns 1,698,764 shares of the retailer’s stock worth $187,832,000 after purchasing an additional 1,694,222 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in Target by 252.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,166,161 shares of the retailer’s stock worth $358,782,000 after purchasing an additional 1,551,551 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.