Target (TGT) Raised to “Outperform” at Robert W. Baird

Robert W. Baird upgraded shares of Target (NYSE:TGT) from a neutral rating to an outperform rating in a research report released on Wednesday, MarketBeat reports. Robert W. Baird currently has $85.00 price objective on the retailer’s stock, up from their previous price objective of $75.00.

A number of other analysts also recently issued reports on the stock. ValuEngine upgraded shares of Target from a hold rating to a buy rating in a report on Tuesday. Cowen set a $80.00 target price on shares of Target and gave the stock a hold rating in a research note on Thursday, February 8th. Vetr upgraded shares of Target from a sell rating to a hold rating and set a $72.52 target price for the company in a research note on Monday, February 5th. Zacks Investment Research upgraded shares of Target from a hold rating to a strong-buy rating and set a $88.00 target price for the company in a research note on Saturday, January 20th. Finally, MKM Partners set a $93.00 target price on shares of Target and gave the stock a buy rating in a research note on Friday, January 12th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Hold and an average target price of $68.36.

Target (NYSE TGT) traded down $0.06 during midday trading on Wednesday, reaching $75.29. 1,272,027 shares of the company were exchanged, compared to its average volume of 7,408,019. Target has a 1-year low of $48.56 and a 1-year high of $78.70. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.96 and a quick ratio of 0.27. The stock has a market capitalization of $41,310.00, a P/E ratio of 15.96, a PEG ratio of 3.49 and a beta of 0.75.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, November 15th. The retailer reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. Target had a net margin of 3.80% and a return on equity of 24.09%. The business had revenue of $16.67 billion during the quarter, compared to the consensus estimate of $16.61 billion. During the same quarter last year, the company posted $1.04 earnings per share. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. research analysts predict that Target will post 4.72 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 10th. Shareholders of record on Wednesday, February 21st will be given a dividend of $0.62 per share. The ex-dividend date is Tuesday, February 20th. This represents a $2.48 annualized dividend and a yield of 3.29%. Target’s payout ratio is presently 52.10%.

In other Target news, Director Roxanne S. Austin sold 4,705 shares of Target stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $62.61, for a total transaction of $294,580.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert M. Harrison sold 8,557 shares of Target stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $76.74, for a total transaction of $656,664.18. Following the sale, the insider now owns 13,288 shares of the company’s stock, valued at $1,019,721.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,262 shares of company stock valued at $1,185,484. 0.25% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BB&T Securities LLC lifted its holdings in shares of Target by 43.8% in the 4th quarter. BB&T Securities LLC now owns 66,674 shares of the retailer’s stock worth $4,350,000 after acquiring an additional 20,305 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Target by 47.6% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 20,820 shares of the retailer’s stock worth $1,359,000 after acquiring an additional 6,710 shares during the last quarter. HBK Sorce Advisory LLC bought a new stake in shares of Target in the 4th quarter worth approximately $806,000. KLCM Advisors Inc. bought a new stake in shares of Target in the 4th quarter worth approximately $211,000. Finally, Glenmede Trust Co. NA lifted its holdings in shares of Target by 1.5% in the 4th quarter. Glenmede Trust Co. NA now owns 897,882 shares of the retailer’s stock worth $58,584,000 after acquiring an additional 13,484 shares during the last quarter. Hedge funds and other institutional investors own 87.85% of the company’s stock.

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About Target

Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.

Analyst Recommendations for Target (NYSE:TGT)

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