Target Corp. (NYSE:TGT) was downgraded by equities researchers at Vetr from a “buy” rating to a “sell” rating in a research report issued to clients and investors on Monday. They currently have a $66.50 price objective on the retailer’s stock. Vetr‘s price target would suggest a potential downside of 3.13% from the company’s current price.
A number of other brokerages have also recently weighed in on TGT. Jefferies Group reissued a “hold” rating and set a $72.00 price objective on shares of Target Corp. in a research note on Thursday, August 18th. Argus restated a “hold” rating on shares of Target Corp. in a research report on Thursday, July 7th. Nomura set a $75.00 target price on shares of Target Corp. and gave the stock a “hold” rating in a research report on Thursday, August 11th. Edward Jones lowered shares of Target Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 17th. Finally, Morgan Stanley set a $64.00 target price on shares of Target Corp. and gave the stock a “sell” rating in a research report on Friday, August 19th. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $76.82.
Target Corp. (NYSE:TGT) opened at 68.65 on Monday. Target Corp. has a 1-year low of $65.50 and a 1-year high of $84.14. The firm’s 50 day moving average price is $69.69 and its 200-day moving average price is $73.61. The stock has a market cap of $39.46 billion, a price-to-earnings ratio of 12.70 and a beta of 0.68.
Target Corp. (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 17th. The retailer reported $1.23 earnings per share for the quarter, topping 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 business earned $16.20 billion during the quarter. During the same period last year, the business earned $1.22 earnings per share. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. On average, equities analysts anticipate that Target Corp. will post $4.95 earnings per share for the current year.
The business also recently announced 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 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Monday, November 14th. Target Corp.’s payout ratio is currently 44.44%.
Large investors have recently added to or reduced their stakes in the company. Eqis Capital Management Inc. bought a new stake in Target Corp. during the third quarter valued at $223,000. Lynch & Associates IN increased its stake in Target Corp. by 4.6% in the third quarter. Lynch & Associates IN now owns 23,498 shares of the retailer’s stock valued at $1,614,000 after buying an additional 1,025 shares during the last quarter. Washington Trust Bank increased its stake in Target Corp. by 4.5% in the third quarter. Washington Trust Bank now owns 3,904 shares of the retailer’s stock valued at $268,000 after buying an additional 168 shares during the last quarter. Park National Corp OH increased its stake in Target Corp. by 16.2% in the third quarter. Park National Corp OH now owns 244,219 shares of the retailer’s stock valued at $16,773,000 after buying an additional 34,091 shares during the last quarter. Finally, Bath Savings Trust Co bought a new stake in Target Corp. during the third quarter valued at $221,000. 86.19% of the stock is owned by institutional investors.
Target Corp. Company Profile
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.
To view Vetr’s full report, visit Vetr’s official website.
Receive News & Ratings for Target Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target Corp. and related companies with MarketBeat.com's FREE daily email newsletter.