Target (NYSE:TGT) Given New $135.00 Price Target at Sanford C. Bernstein

Target (NYSE:TGT) had its price target hoisted by Sanford C. Bernstein from $124.00 to $135.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a market perform rating on the retailer’s stock.

Several other research analysts also recently issued reports on TGT. Truist Financial lifted their price objective on Target from $123.00 to $130.00 and gave the stock a “hold” rating in a research report on Wednesday, May 20th. Citigroup increased their target price on Target from $117.00 to $133.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Wolfe Research raised Target from a “peer perform” rating to an “outperform” rating and set a $162.00 price target for the company in a research report on Tuesday, June 23rd. The Goldman Sachs Group reiterated a “neutral” rating on shares of Target in a research report on Thursday, June 11th. Finally, Roth Capital reissued a “neutral” rating and issued a $114.00 target price on shares of Target in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Target has a consensus rating of “Hold” and a consensus price target of $133.48.

Target Trading Up 0.0%

NYSE:TGT opened at $144.55 on Friday. Target has a 52-week low of $83.44 and a 52-week high of $147.77. The company has a quick ratio of 0.30, a current ratio of 0.93 and a debt-to-equity ratio of 0.87. The stock has a fifty day simple moving average of $132.87 and a 200-day simple moving average of $123.18. The company has a market capitalization of $65.65 billion, a PE ratio of 19.10, a price-to-earnings-growth ratio of 2.83 and a beta of 0.98.

Target (NYSE:TGT) last posted its earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.24. The firm had revenue of $25.44 billion during the quarter, compared to the consensus estimate of $24.66 billion. Target had a net margin of 3.24% and a return on equity of 22.92%. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the firm posted $1.30 EPS. Target has set its FY 2026 guidance at 7.500-8.500 EPS. On average, equities research analysts expect that Target will post 8.32 earnings per share for the current fiscal year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th will be paid a $1.16 dividend. The ex-dividend date is Wednesday, August 12th. This is an increase from Target’s previous quarterly dividend of $1.14. This represents a $4.64 annualized dividend and a yield of 3.2%. Target’s payout ratio is currently 60.24%.

Insiders Place Their Bets

In related news, insider Cara A. Sylvester sold 10,000 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $125.89, for a total transaction of $1,258,900.00. Following the transaction, the insider directly owned 45,930 shares in the company, valued at approximately $5,782,127.70. This represents a 17.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.13% of the company’s stock.

Institutional Trading of Target

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ballast Inc. boosted its position in shares of Target by 19.0% in the second quarter. Ballast Inc. now owns 19,604 shares of the retailer’s stock worth $2,560,000 after acquiring an additional 3,130 shares during the last quarter. Regent Peak Wealth Advisors LLC increased its position in Target by 4.7% during the second quarter. Regent Peak Wealth Advisors LLC now owns 2,269 shares of the retailer’s stock worth $296,000 after purchasing an additional 101 shares during the last quarter. Tema ETFs LLC increased its position in Target by 10.6% during the second quarter. Tema ETFs LLC now owns 9,058 shares of the retailer’s stock worth $1,183,000 after purchasing an additional 870 shares during the last quarter. Revolve Wealth Partners LLC purchased a new position in Target during the second quarter worth approximately $543,000. Finally, Sax Wealth Advisors LLC purchased a new position in Target during the second quarter worth approximately $203,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

About Target

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.