Target Corp. (NYSE:TGT)‘s stock had its “neutral” rating reaffirmed by investment analysts at MKM Partners in a research note issued to investors on Thursday. They currently have a $70.00 target price on the retailer’s stock, down from their prior target price of $77.00. MKM Partners’ price target indicates a potential upside of 7.05% from the stock’s previous close.
A number of other equities research analysts have also issued reports on the company. Vetr upgraded Target Corp. from a “sell” rating to a “hold” rating and set a $77.48 target price for the company in a research note on Monday, November 28th. Morgan Stanley reiterated an “underweight” rating and issued a $65.00 target price on shares of Target Corp. in a research note on Wednesday. Jefferies Group set a $72.00 target price on Target Corp. and gave the company a “hold” rating in a research note on Tuesday, October 4th. Zacks Investment Research upgraded Target Corp. from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research note on Wednesday, December 28th. Finally, Buckingham Research raised their price objective on Target Corp. to $85.00 in a research note on Wednesday, November 16th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Target Corp. presently has an average rating of “Hold” and an average target price of $74.25.
Shares of Target Corp. (NYSE:TGT) traded down 2.18% during midday trading on Thursday, reaching $65.39. The company’s stock had a trading volume of 12,274,057 shares. Target Corp. has a 1-year low of $65.06 and a 1-year high of $84.14. The company’s 50-day moving average price is $74.51 and its 200 day moving average price is $71.99. The firm has a market capitalization of $36.73 billion, a PE ratio of 11.64 and a beta of 0.62.
Target Corp. (NYSE:TGT) last posted its earnings results on Wednesday, November 16th. The retailer reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.21. Target Corp. had a return on equity of 25.18% and a net margin of 4.75%. The business earned $16.44 billion during the quarter, compared to analyst estimates of $16.30 billion. During the same quarter last year, the firm earned $0.86 earnings per share. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. On average, equities research analysts forecast that Target Corp. will post $5.20 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 10th. Stockholders of record on Wednesday, February 15th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Monday, February 13th. Target Corp.’s dividend payout ratio (DPR) is presently 42.93%.
In other news, Director Anne M. Mulcahy sold 3,957 shares of Target Corp. stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $75.45, for a total transaction of $298,555.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the stock. Penserra Capital Management LLC boosted its position in shares of Target Corp. by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,512 shares of the retailer’s stock valued at $103,000 after buying an additional 756 shares during the period. Kanaly Trust Co boosted its position in shares of Target Corp. by 11.2% in the third quarter. Kanaly Trust Co now owns 1,534 shares of the retailer’s stock worth $105,000 after buying an additional 154 shares during the last quarter. First National Bank Sioux Falls boosted its position in shares of Target Corp. by 18.5% in the third quarter. First National Bank Sioux Falls now owns 1,603 shares of the retailer’s stock worth $110,000 after buying an additional 250 shares during the last quarter. Woodmont Investment Counsel LLC bought a new position in shares of Target Corp. during the third quarter worth about $128,000. Finally, Davidson Investment Advisors boosted its position in shares of Target Corp. by 11.6% in the third quarter. Davidson Investment Advisors now owns 2,159 shares of the retailer’s stock worth $148,000 after buying an additional 225 shares during the last quarter. Institutional investors own 86.63% of the company’s stock.
About Target Corp.
Target Corporation offers everyday essentials and merchandise to its customers. The Company sells a range of general merchandise and food through its store and digital channels. The Company’s general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items.