Target Corp. (NYSE:TGT) has been assigned a $75.00 price objective by research analysts at Nomura in a report released on Friday. The firm presently has a a “hold” rating on the retailer’s stock. Nomura’s price objective indicates a potential upside of 8.92% from the company’s current price.
A number of other equities research analysts have also recently issued reports on the stock. Piper Jaffray Cos. reaffirmed an “outperform” rating and issued a $86.00 price objective on shares of Target Corp. in a research note on Monday, July 25th. Barclays PLC reaffirmed an “underweight” rating and issued a $60.00 price objective on shares of Target Corp. in a research note on Friday, September 16th. Vetr raised shares of Target Corp. from a “hold” rating to a “buy” rating and set a $75.70 price objective for the company in a research note on Monday, July 4th. Zacks Investment Research cut shares of Target Corp. from a “hold” rating to a “sell” rating in a research note on Friday, July 15th. Finally, Jefferies Group set a $72.00 price objective on shares of Target Corp. and gave the company a “hold” rating in a research note on Tuesday, October 4th. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $74.49.
Shares of Target Corp. (NYSE:TGT) opened at 68.86 on Friday. The company has a market capitalization of $39.58 billion, a P/E ratio of 12.74 and a beta of 0.68. The firm has a 50-day moving average of $69.33 and a 200 day moving average of $73.22. Target Corp. has a 1-year low of $65.50 and a 1-year high of $84.14.
Target Corp. (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 17th. The retailer reported $1.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.11. Target Corp. had a net margin of 4.59% and a return on equity of 23.59%. The company earned $16.20 billion during the quarter. During the same period last year, the company posted $1.22 EPS. Target Corp.’s revenue for the quarter was down 7.2% on a year-over-year basis. On average, equities research analysts expect that Target Corp. will post $4.95 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Wednesday, November 16th will be issued 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 payout ratio is 44.44%.
Institutional investors have recently bought and sold shares of the company. Ropes Wealth Advisors LLC increased its position 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 last quarter. Arcadia Investment Management Corp MI increased its position 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 last quarter. Loomis Sayles & Co. L P increased its position 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 last quarter. Acrospire Investment Management LLC acquired a new position in Target Corp. during the first quarter worth about $165,000. Finally, Duncker Streett & Co. Inc. increased its position 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 last quarter. 86.18% of the stock is currently owned by institutional investors.
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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