Target (NYSE:TGT) had its price objective boosted by KeyCorp from $110.00 to $120.00 in a report issued on Thursday morning, BenzingaRatingsTable reports. KeyCorp currently has an overweight rating on the retailer’s stock. KeyCorp also issued estimates for Target’s Q3 2020 earnings at $1.18 EPS, Q4 2020 earnings at $1.72 EPS, FY2020 earnings at $6.24 EPS, Q1 2021 earnings at $1.63 EPS, Q2 2021 earnings at $1.95 EPS, Q3 2021 earnings at $1.27 EPS, Q4 2021 earnings at $1.85 EPS and FY2021 earnings at $6.70 EPS.
TGT has been the topic of a number of other reports. Wells Fargo & Co upgraded Target from a market perform rating to an outperform rating and set a $115.00 target price on the stock in a research note on Wednesday. Morgan Stanley upgraded Target from an underweight rating to an equal weight rating and set a $67.00 target price on the stock in a research note on Monday, May 20th. Sanford C. Bernstein reiterated a mkt perform rating on shares of Target in a research note on Friday, May 3rd. Credit Suisse Group set a $90.00 target price on Target and gave the company a buy rating in a research note on Thursday, May 23rd. Finally, Bank of America set a $105.00 target price on Target and gave the stock a buy rating in a report on Thursday, May 23rd. Eight research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Target currently has an average rating of Buy and a consensus price target of $101.92.
Shares of TGT opened at $104.39 on Thursday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.88 and a quick ratio of 0.19. The stock has a market capitalization of $43.82 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 2.04 and a beta of 0.61. Target has a 12-month low of $60.15 and a 12-month high of $106.52. The business’s fifty day moving average price is $86.54 and its 200 day moving average price is $80.74.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 2.53%. The ex-dividend date is Tuesday, August 20th. This is a boost from Target’s previous quarterly dividend of $0.64. Target’s payout ratio is 48.98%.
In other Target news, Director Roxanne S. Austin sold 4,163 shares of Target stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $89.00, for a total transaction of $370,507.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michael Edward Mcnamara sold 11,891 shares of Target stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $88.79, for a total value of $1,055,801.89. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,421 shares of company stock worth $2,162,689. Company insiders own 0.24% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in TGT. Vanguard Group Inc. lifted its holdings in shares of Target by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 40,186,903 shares of the retailer’s stock valued at $3,480,588,000 after buying an additional 522,633 shares during the last quarter. LSV Asset Management lifted its holdings in shares of Target by 2.4% during the 1st quarter. LSV Asset Management now owns 7,391,837 shares of the retailer’s stock valued at $593,268,000 after buying an additional 171,019 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Target by 5.8% in the 4th quarter. Geode Capital Management LLC now owns 6,980,549 shares of the retailer’s stock worth $460,727,000 after purchasing an additional 381,831 shares during the last quarter. Northern Trust Corp lifted its holdings in Target by 0.3% in the 2nd quarter. Northern Trust Corp now owns 6,944,281 shares of the retailer’s stock worth $601,443,000 after purchasing an additional 19,238 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Target by 1.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,359,866 shares of the retailer’s stock worth $377,608,000 after purchasing an additional 54,263 shares during the last quarter. 82.12% of the stock is currently owned by institutional investors.
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.
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