Posted by MarketBeat News on Mar 9th, 2024
HSBC upgraded shares of Target (NYSE:TGT – Free Report) from a hold rating to a buy rating in a research report report published on Wednesday morning, Marketbeat.com reports. They currently have $195.00 target price on the retailer’s stock, up from their previous target price of $140.00.
Several other equities research analysts have also recently commented on TGT. The Goldman Sachs Group reaffirmed a buy rating on shares of Target in a research report on Thursday, February 1st. StockNews.com raised shares of Target from a hold rating to a buy rating in a research report on Tuesday, November 14th. BMO Capital Markets boosted their price objective on shares of Target from $120.00 to $130.00 and gave the company a market perform rating in a research report on Thursday, November 16th. Deutsche Bank Aktiengesellschaft raised shares of Target from a hold rating to a buy rating and boosted their price objective for the company from $149.00 to $206.00 in a research report on Wednesday. Finally, Royal Bank of Canada cut their price objective on shares of Target from $161.00 to $157.00 and set an outperform rating on the stock in a research report on Thursday, November 16th. Eleven equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Target currently has an average rating of Moderate Buy and an average price target of $178.38.
Get Our Latest Stock Report on TGT
Target Trading Down 1.1 %
Shares of NYSE TGT opened at $169.72 on Wednesday. The company’s fifty day moving average is $146.80 and its 200-day moving average is $130.58. The stock has a market cap of $78.35 billion, a price-to-earnings ratio of 19.01, a P/E/G ratio of 1.36 and a beta of 1.13. Target has a twelve month low of $102.93 and a twelve month high of $175.53. The company has a quick ratio of 0.18, a current ratio of 0.91 and a debt-to-equity ratio of 1.11.
Target (NYSE:TGT – Get Free Report) last announced its quarterly earnings results on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.57. The company had revenue of $31.47 billion for the quarter, compared to analysts’ expectations of $31.83 billion. Target had a net margin of 3.87% and a return on equity of 33.41%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the firm posted $1.89 earnings per share. Equities research analysts predict that Target will post 9.2 EPS for the current year.
Target Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, March 10th. Stockholders of record on Wednesday, February 21st will be paid a dividend of $1.10 per share. The ex-dividend date is Tuesday, February 20th. This represents a $4.40 annualized dividend and a dividend yield of 2.59%. Target’s dividend payout ratio is presently 49.27%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the stock. Tower View Wealth Management LLC grew its stake in Target by 82.8% in the 3rd quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock valued at $26,000 after buying an additional 106 shares during the last quarter. Quarry LP grew its stake in Target by 100.0% in the 4th quarter. Quarry LP now owns 192 shares of the retailer’s stock valued at $27,000 after buying an additional 96 shares during the last quarter. Sittner & Nelson LLC grew its stake in Target by 150.6% in the 2nd quarter. Sittner & Nelson LLC now owns 213 shares of the retailer’s stock valued at $28,000 after buying an additional 128 shares during the last quarter. Rakuten Securities Inc. acquired a new position in Target in the 4th quarter valued at about $29,000. Finally, Private Wealth Management Group LLC acquired a new position in Target in the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 78.33% of the company’s stock.
About Target
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.
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