Target (NYSE:TGT) Receives Outperform Rating from Telsey Advisory Group

Telsey Advisory Group reissued their outperform rating on shares of Target (NYSE:TGT) in a report released on Thursday morning, Benzinga reports. The brokerage currently has a $195.00 price objective on the retailer’s stock.

Several other equities research analysts also recently weighed in on TGT. UBS Group increased their price target on Target from $185.00 to $200.00 and gave the stock a buy rating in a report on Thursday, August 22nd. Truist Financial upped their price target on shares of Target from $156.00 to $162.00 and gave the stock a hold rating in a report on Thursday, August 22nd. Piper Sandler began coverage on shares of Target in a report on Wednesday, July 10th. They set a neutral rating and a $156.00 price objective for the company. StockNews.com raised shares of Target from a buy rating to a strong-buy rating in a research note on Thursday, August 22nd. Finally, Daiwa Capital Markets raised Target from a neutral rating to an outperform rating and set a $170.00 price objective on the stock in a research note on Monday, August 26th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $179.68.

Target Stock Performance

Target stock opened at $156.52 on Thursday. The company has a market cap of $72.41 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24. Target has a twelve month low of $102.93 and a twelve month high of $181.86. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The company’s 50-day moving average price is $148.44 and its 200-day moving average price is $155.05.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping the consensus estimate of $2.18 by $0.39. The company had revenue of $25.02 billion during the quarter, compared to analyst estimates of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. Target’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.80 earnings per share. On average, equities research analysts forecast that Target will post 9.53 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a yield of 2.86%. Target’s dividend payout ratio (DPR) is presently 50.28%.

Insiders Place Their Bets

In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the sale, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the sale, the chief accounting officer now directly owns 7,276 shares in the company, valued at approximately $1,114,173.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the transaction, the insider now directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. The disclosure for this sale can be found here. 0.23% of the stock is owned by company insiders.

Hedge Funds Weigh In On Target

A number of hedge funds have recently modified their holdings of the business. Triad Wealth Partners LLC purchased a new position in Target during the second quarter worth about $25,000. Ables Iannone Moore & Associates Inc. purchased a new position in Target in the fourth quarter worth $28,000. Slocum Gordon & Co LLP purchased a new position in shares of Target in the 2nd quarter valued at about $28,000. Scarborough Advisors LLC purchased a new position in shares of Target in the 4th quarter valued at about $29,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Target in the 2nd quarter worth approximately $31,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

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.