Target (NYSE:TGT) Coverage Initiated by Analysts at TD Cowen

TD Cowen initiated coverage on shares of Target (NYSE:TGT) in a research report released on Friday,Zacks reports. The firm issued a hold rating on the retailer’s stock.

Other equities analysts have also recently issued reports about the company. Barclays boosted their target price on Target from $115.00 to $140.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 19th. Citigroup raised their price target on Target from $148.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, August 20th. Evercore set a $165.00 price target on Target in a research report on Tuesday, October 13th. JPMorgan Chase & Co. boosted their price objective on Target from $129.00 to $157.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Finally, Morgan Stanley restated an “overweight” rating on shares of Target in a research report on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $159.33.

Target Stock Up 1.2%

TGT opened at $153.70 on Friday. The company has a fifty day moving average price of $157.12 and a 200-day moving average price of $133.81. The firm has a market capitalization of $69.83 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 2.81 and a beta of 0.98. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.99 and a quick ratio of 0.36. Target has a one year low of $83.44 and a one year high of $170.75.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 19th. The retailer reported $4.11 earnings per share for the quarter, topping the consensus estimate of $2.35 by $1.76. Target had a net margin of 4.08% and a return on equity of 23.23%. The firm had revenue of $26.54 billion for the quarter, compared to analysts’ expectations of $26.13 billion. During the same quarter in the prior year, the firm posted $2.05 earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis. Target has set its FY 2026 guidance at 9.900-10.900 EPS. Equities research analysts expect that Target will post 8.89 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Wednesday, November 11th will be given a $1.16 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $4.64 annualized dividend and a yield of 3.0%. Target’s payout ratio is 48.18%.

Insiders Place Their Bets

In other Target news, CAO Matthew Liegel sold 926 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $163.51, for a total transaction of $151,410.26. Following the sale, the chief accounting officer owned 12,266 shares in the company, valued at $2,005,613.66. This trade represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Melissa Kremer sold 15,500 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $169.96, for a total value of $2,634,380.00. Following the sale, the insider owned 56,981 shares in the company, valued at $9,684,490.76. The trade was a 21.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.13% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Target

Large investors have recently modified their holdings of the company. Bogart Wealth LLC grew its holdings in shares of Target by 41.8% during the first quarter. Bogart Wealth LLC now owns 111,001 shares of the retailer’s stock valued at $13,453,000 after buying an additional 32,746 shares during the last quarter. Munich Reinsurance Co Stock Corp in Munich bought a new stake in shares of Target during the first quarter valued at approximately $6,686,000. Nicholas Investment Partners LP raised its holdings in Target by 204.3% in the 2nd quarter. Nicholas Investment Partners LP now owns 55,154 shares of the retailer’s stock worth $7,204,000 after acquiring an additional 37,030 shares during the last quarter. Saudi Central Bank raised its holdings in Target by 89.7% in the 2nd quarter. Saudi Central Bank now owns 31,700 shares of the retailer’s stock worth $4,140,000 after acquiring an additional 14,986 shares during the last quarter. Finally, Engineers Gate Manager LP raised its holdings in Target by 4,119.2% in the 2nd quarter. Engineers Gate Manager LP now owns 372,558 shares of the retailer’s stock worth $48,660,000 after acquiring an additional 363,728 shares during the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

About Target

Target Corporation is a U.S.-based general merchandise retailer that operates stores and digital shopping platforms under the Target name. The company sells a broad assortment of products, including apparel and accessories, beauty and household essentials, electronics, toys, groceries, home furnishings, and seasonal merchandise.

Target also offers services designed to support omnichannel shopping, including order pickup, Drive Up, same-day delivery, and shipping through its digital channels.