Brokerages Set Target Co. (NYSE:TGT) Price Target at $116.70

Target Co. (NYSE:TGT) has been given a consensus recommendation of “Hold” by the thirty-four ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, twenty-four have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $116.70.

TGT has been the subject of a number of research reports. Citigroup lowered their price objective on Target from $97.00 to $94.00 and set a “neutral” rating for the company in a research report on Thursday, May 22nd. Truist Financial lifted their price objective on Target from $82.00 to $90.00 and gave the stock a “hold” rating in a research report on Thursday, May 22nd. UBS Group lowered their price objective on Target from $170.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Robert W. Baird set a $100.00 price objective on Target in a research report on Thursday, May 22nd. Finally, Oppenheimer lowered their price objective on Target from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th.

Insider Buying and Selling at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total value of $4,328,100.00. Following the sale, the insider now owns 246,453 shares in the company, valued at approximately $23,703,849.54. The trade was a 15.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Target

Several institutional investors have recently bought and sold shares of the company. 1248 Management LLC bought a new stake in Target in the 1st quarter valued at approximately $46,000. Bontempo Ohly Capital Mgmt LLC raised its stake in shares of Target by 7.6% during the 1st quarter. Bontempo Ohly Capital Mgmt LLC now owns 30,845 shares of the retailer’s stock worth $3,219,000 after purchasing an additional 2,177 shares in the last quarter. Invst LLC raised its stake in shares of Target by 1.2% during the 1st quarter. Invst LLC now owns 10,373 shares of the retailer’s stock worth $1,083,000 after purchasing an additional 118 shares in the last quarter. Strs Ohio bought a new stake in shares of Target during the 1st quarter worth approximately $48,371,000. Finally, Ellsworth Advisors LLC raised its stake in shares of Target by 8.0% during the 1st quarter. Ellsworth Advisors LLC now owns 38,828 shares of the retailer’s stock worth $4,052,000 after purchasing an additional 2,883 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Stock Performance

Target stock opened at $97.37 on Thursday. The stock has a 50-day simple moving average of $95.65 and a 200 day simple moving average of $114.78. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. Target has a 12-month low of $87.35 and a 12-month high of $167.40. The stock has a market capitalization of $44.24 billion, a price-to-earnings ratio of 10.33, a P/E/G ratio of 1.94 and a beta of 1.22.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). Target had a net margin of 4.06% and a return on equity of 31.11%. The business had revenue of $24.20 billion during the quarter, compared to the consensus estimate of $24.54 billion. During the same period in the prior year, the firm earned $2.03 earnings per share. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, research analysts anticipate that Target will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 4.60%. The ex-dividend date is Wednesday, August 13th. Target’s payout ratio is 50.11%.

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.