Guggenheim assumed coverage on shares of Target Corp. (NYSE:TGT) in a research report issued on Friday. The brokerage set a “neutral” rating on the retailer’s stock.
A number of other research firms have also weighed in on TGT. Zacks Investment Research upgraded Target Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 26th. Deutsche Bank AG increased their target price on Target Corp. from $78.00 to $79.00 and gave the stock a “hold” rating in a research note on Monday, August 15th. MKM Partners reiterated a “neutral” rating and issued a $78.00 target price (up previously from $73.00) on shares of Target Corp. in a research note on Tuesday, August 16th. Edward Jones lowered Target Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 17th. Finally, Cowen and Company reiterated an “outperform” rating and issued a $75.00 target price (down previously from $81.00) on shares of Target Corp. in a research note on Wednesday, August 17th. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $76.82.
Target Corp. (NYSE:TGT) opened at 68.68 on Friday. The company has a 50-day moving average of $69.88 and a 200-day moving average of $73.71. Target Corp. has a 52 week low of $65.50 and a 52 week high of $84.14. The company has a market cap of $39.48 billion, a PE ratio of 12.71 and a beta of 0.68.
Target Corp. (NYSE:TGT) last released its earnings results on Wednesday, August 17th. The retailer reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.11. Target Corp. had a return on equity of 23.59% and a net margin of 4.59%. The business had revenue of $16.20 billion for the quarter. During the same quarter in the previous year, the business earned $1.22 EPS. The business’s revenue for the quarter was down 7.2% on a year-over-year basis. On average, equities analysts expect that Target Corp. will post $4.95 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, December 10th. Stockholders of record on Wednesday, November 16th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date is Monday, November 14th. Target Corp.’s dividend payout ratio (DPR) is presently 44.44%.
Hedge funds have recently bought and sold shares of the stock. Ropes Wealth Advisors LLC boosted its stake in Target Corp. by 9.1% in the second quarter. Ropes Wealth Advisors LLC now owns 1,527 shares of the retailer’s stock worth $107,000 after buying an additional 127 shares during the period. Arcadia Investment Management Corp MI boosted its stake in Target Corp. by 41.7% in the second quarter. Arcadia Investment Management Corp MI now owns 1,700 shares of the retailer’s stock worth $119,000 after buying an additional 500 shares during the period. Loomis Sayles & Co. L P boosted its stake in Target Corp. by 1.9% in the second quarter. Loomis Sayles & Co. L P now owns 2,201 shares of the retailer’s stock worth $154,000 after buying an additional 42 shares during the period. Acrospire Investment Management LLC acquired a new stake in Target Corp. during the first quarter worth approximately $165,000. Finally, Duncker Streett & Co. Inc. boosted its stake in Target Corp. by 4.4% in the second quarter. Duncker Streett & Co. Inc. now owns 2,370 shares of the retailer’s stock worth $165,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 86.19% 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.
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