Target Co. (NYSE:TGT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Target Co. (NYSE:TGT) have received a consensus recommendation of “Moderate Buy” from the twenty-nine research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eighteen have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $177.61.

A number of analysts have commented on the stock. Guggenheim lifted their target price on shares of Target from $160.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Roth Mkm reissued a “neutral” rating and issued a $153.00 target price on shares of Target in a research note on Thursday, May 23rd. Bank of America raised their target price on Target from $160.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Royal Bank of Canada cut their price target on shares of Target from $191.00 to $181.00 and set an “outperform” rating on the stock in a research report on Thursday, May 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Target from $209.00 to $190.00 and set a “buy” rating for the company in a report on Thursday, May 23rd.

Target Trading Down 0.4 %

Shares of TGT opened at $144.75 on Thursday. The stock’s fifty day simple moving average is $152.12 and its 200-day simple moving average is $153.41. The firm has a market capitalization of $66.97 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 1.39 and a beta of 1.19. Target has a 12-month low of $102.93 and a 12-month high of $181.86. The company has a quick ratio of 0.27, a current ratio of 0.86 and a debt-to-equity ratio of 0.97.

Target (NYSE:TGT) last released its earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). Target had a net margin of 3.87% and a return on equity of 31.91%. The business had revenue of $24.14 billion for the quarter, compared to analyst estimates of $24.52 billion. During the same quarter in the previous year, the company posted $2.05 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, research analysts predict that Target will post 9.32 earnings per share for the current year.

Target Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Wednesday, August 21st. This is an increase from Target’s previous quarterly dividend of $1.10. Target’s dividend payout ratio is presently 49.38%.

Hedge Funds Weigh In On Target

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Washington Trust Advisors Inc. raised its holdings in shares of Target by 56.1% in the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after purchasing an additional 64 shares during the last quarter. Williams Jones Wealth Management LLC. grew its position in Target by 0.6% in the 1st quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock worth $1,909,000 after purchasing an additional 68 shares in the last quarter. Larson Financial Group LLC increased its stake in Target by 1.3% in the 4th quarter. Larson Financial Group LLC now owns 5,339 shares of the retailer’s stock valued at $760,000 after buying an additional 70 shares during the last quarter. Godshalk Welsh Capital Management Inc. lifted its position in shares of Target by 0.9% during the 4th quarter. Godshalk Welsh Capital Management Inc. now owns 8,130 shares of the retailer’s stock worth $1,158,000 after buying an additional 70 shares in the last quarter. Finally, Haverford Trust Co boosted its stake in shares of Target by 0.3% in the 1st quarter. Haverford Trust Co now owns 27,472 shares of the retailer’s stock worth $4,868,000 after buying an additional 70 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Company Profile

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.