Wells Fargo & Co upgraded shares of Target (NYSE:TGT) from a market perform rating to an outperform rating in a research report sent to investors on Wednesday, Briefing.com Automated Import reports. Wells Fargo & Co currently has $115.00 price target on the retailer’s stock.
Other equities analysts have also recently issued reports about the company. UBS Group raised their target price on Target from $77.00 to $82.00 and gave the company a neutral rating in a report on Thursday, May 23rd. Deutsche Bank upgraded Target from a hold rating to a buy rating and raised their target price for the company from $85.00 to $99.00 in a report on Monday, August 5th. Goldman Sachs Group began coverage on Target in a report on Thursday, July 11th. They set a buy rating and a $102.00 target price for the company. Credit Suisse Group set a $90.00 target price on Target and gave the company a buy rating in a report on Thursday, May 23rd. Finally, Morgan Stanley upgraded Target from an underweight rating to an equal weight rating and set a $67.00 target price for the company in a report on Monday, May 20th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Target currently has a consensus rating of Buy and an average price target of $102.37.
Shares of Target stock opened at $103.49 on Wednesday. The business has a 50-day moving average of $86.87 and a 200 day moving average of $80.90. Target has a 12 month low of $60.15 and a 12 month high of $106.52. The stock has a market capitalization of $52.77 billion, a price-to-earnings ratio of 19.20, a price-to-earnings-growth ratio of 2.45 and a beta of 0.61. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.84 and a quick ratio of 0.19.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Tuesday, August 20th. This is an increase from Target’s previous quarterly dividend of $0.64. Target’s dividend payout ratio (DPR) is currently 48.98%.
In other Target news, insider Stephanie A. Lundquist sold 8,367 shares of Target stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $88.01, for a total value of $736,379.67. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Don H. Liu sold 4,140 shares of Target stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $99.92, for a total value of $413,668.80. The disclosure for this sale can be found here. Insiders sold a total of 28,561 shares of company stock worth $2,576,357 over the last quarter. Company insiders own 0.24% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Krane Funds Advisors LLC purchased a new stake in shares of Target in the second quarter valued at approximately $25,000. Advisory Alpha LLC acquired a new position in Target in the first quarter valued at $30,000. Icon Wealth Partners LLC acquired a new position in Target in the first quarter valued at $31,000. Larson Financial Group LLC acquired a new position in Target in the second quarter valued at $31,000. Finally, C J Advisory Inc acquired a new position in Target in the first quarter valued at $33,000. Institutional investors own 82.12% of the company’s stock.
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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