Target Corporation (NYSE:TGT) Declares Quarterly Dividend of $1.16

Target Corporation (NYSE:TGT) announced a quarterly dividend on Thursday, June 11th. Investors of record on Wednesday, August 12th will be given a dividend of 1.16 per share by the retailer on Tuesday, September 1st. This represents a c) dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Wednesday, August 12th. This is a 1.8% increase from Target’s previous quarterly dividend of $1.14.

Target has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 54 consecutive years. Target has a dividend payout ratio of 55.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Target to earn $8.89 per share next year, which means the company should continue to be able to cover its $4.56 annual dividend with an expected future payout ratio of 51.3%.

Target Stock Performance

Shares of Target stock traded up $4.61 on Thursday, reaching $132.59. 4,532,089 shares of the stock were exchanged, compared to its average volume of 5,884,426. The company has a quick ratio of 0.30, a current ratio of 0.93 and a debt-to-equity ratio of 0.87. Target has a twelve month low of $83.44 and a twelve month high of $133.10. The firm has a market capitalization of $60.22 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 2.47 and a beta of 1.00. The business has a 50 day moving average price of $124.89 and a two-hundred day moving average price of $113.02.

Target (NYSE:TGT) last released its earnings results on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.24. Target had a return on equity of 22.92% and a net margin of 3.24%.The firm had revenue of $25.44 billion during the quarter, compared to the consensus estimate of $24.66 billion. During the same quarter in the previous year, the company posted $1.30 earnings per share. The company’s revenue was up 6.7% compared to the same quarter last year. Target has set its FY 2026 guidance at 7.500-8.500 EPS. Analysts anticipate that Target will post 8.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

TGT has been the subject of a number of analyst reports. Bank of America initiated coverage on Target in a report on Friday, February 27th. They issued an “underperform” rating and a $103.00 price target for the company. Barclays reiterated an “underweight” rating on shares of Target in a research report on Monday, June 1st. Robert W. Baird boosted their price target on Target from $125.00 to $135.00 and gave the stock a “neutral” rating in a research report on Thursday, May 21st. BMO Capital Markets upped their target price on Target from $105.00 to $130.00 and gave the company a “market perform” rating in a report on Wednesday, March 4th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $140.00 price target on shares of Target in a research note on Wednesday, May 20th. Eleven research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $125.93.

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.