Brokerages Set Target Corporation (NYSE:TGT) Target Price at $103.90

Shares of Target Corporation (NYSE:TGT) have been given a consensus rating of “Hold” by the thirty-three analysts that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, twenty have assigned a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $105.0345.

Several equities analysts recently weighed in on the stock. Sanford C. Bernstein cut their target price on shares of Target from $87.00 to $80.00 and set an “underperform” rating for the company in a research note on Thursday, November 20th. TD Cowen cut their price objective on Target from $105.00 to $90.00 and set a “hold” rating for the company in a research report on Thursday, November 20th. Robert W. Baird decreased their target price on Target from $100.00 to $92.00 and set a “neutral” rating on the stock in a research report on Thursday, November 20th. Zacks Research upgraded Target from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 3rd. Finally, JPMorgan Chase & Co. reduced their price objective on Target from $117.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, November 10th.

Hedge Funds Weigh In On Target

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Target by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 58,212,397 shares of the retailer’s stock worth $5,690,262,000 after acquiring an additional 286,499 shares in the last quarter. State Street Corp raised its position in Target by 0.3% during the fourth quarter. State Street Corp now owns 37,772,533 shares of the retailer’s stock valued at $3,692,265,000 after purchasing an additional 124,468 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Target by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,065,926 shares of the retailer’s stock valued at $1,668,194,000 after purchasing an additional 561,898 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Target by 2.4% in the 4th quarter. Franklin Resources Inc. now owns 6,194,448 shares of the retailer’s stock worth $605,507,000 after purchasing an additional 142,937 shares during the period. Finally, Norges Bank purchased a new position in shares of Target in the 4th quarter worth approximately $587,903,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Trading Down 3.1%

Shares of TGT opened at $113.04 on Tuesday. The firm has a market cap of $51.19 billion, a P/E ratio of 13.72, a price-to-earnings-growth ratio of 11.93 and a beta of 1.14. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.97 and a quick ratio of 0.27. Target has a 1 year low of $83.44 and a 1 year high of $127.89. The company has a 50 day simple moving average of $106.40 and a two-hundred day simple moving average of $97.44.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Wednesday, February 11th will be given a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 4.0%. The ex-dividend date is Wednesday, February 11th. Target’s payout ratio is currently 55.34%.

Target Company Profile

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.