Target (NYSE:TGT) Price Target Raised to $180.00

Target (NYSE:TGT) had its target price hoisted by Wells Fargo & Company from $160.00 to $180.00 in a report issued on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the retailer’s stock.

A number of other research analysts have also recently weighed in on the company. Oppenheimer dropped their price target on Target from $200.00 to $180.00 and set an outperform rating for the company in a research report on Wednesday, August 14th. BNP Paribas began coverage on shares of Target in a report on Monday, June 3rd. They set an underperform rating and a $116.00 target price for the company. Stifel Nicolaus upped their price target on shares of Target from $147.00 to $165.00 and gave the company a hold rating in a report on Thursday. Morgan Stanley reissued an overweight rating and set a $180.00 price objective on shares of Target in a research note on Wednesday. Finally, Bank of America lifted their price objective on Target from $190.00 to $195.00 and gave the stock a buy rating in a research report on Thursday. One analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $179.52.

Target Stock Performance

NYSE:TGT opened at $158.50 on Thursday. 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 has a fifty-two week low of $102.93 and a fifty-two week high of $181.86. The firm’s fifty day simple moving average is $145.94 and its 200-day simple moving average is $154.63. The stock has a market cap of $73.33 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 1.38 and a beta of 1.19.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. The company had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the firm earned $1.80 EPS. Analysts expect that Target will post 9.31 earnings per share for the current fiscal year.

Target Increases Dividend

The company 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 dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.83%. This is an increase from Target’s previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, August 21st. Target’s dividend payout ratio is presently 50.28%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TGT. Triad Wealth Partners LLC acquired a new position in shares of Target in the 2nd quarter valued at about $25,000. Godsey & Gibb Inc. raised its holdings in Target by 148.6% in the first quarter. Godsey & Gibb Inc. now owns 174 shares of the retailer’s stock valued at $31,000 after buying an additional 104 shares during the period. Washington Trust Advisors Inc. lifted its position in Target by 56.1% during the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after buying an additional 64 shares in the last quarter. Slocum Gordon & Co LLP purchased a new stake in Target during the second quarter worth approximately $28,000. Finally, Retirement Group LLC increased its position in shares of Target by 85.0% in the first quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock worth $35,000 after acquiring an additional 91 shares in the last quarter. Institutional investors and hedge funds own 79.73% 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.