Vetr upgraded shares of Target Corp. (NYSE:TGT) from a sell rating to a hold rating in a report issued on Tuesday morning. The brokerage currently has $68.37 price target on the retailer’s stock.
Several other analysts have also recently weighed in on the company. Guggenheim assumed coverage on Target Corp. in a report on Friday, September 30th. They issued a neutral rating on the stock. Barclays PLC reaffirmed an underweight rating and issued a $60.00 price target on shares of Target Corp. in a report on Friday, September 23rd. Credit Suisse Group AG assumed coverage on Target Corp. in a report on Friday, September 16th. They issued a neutral rating and a $65.00 price target on the stock. Jefferies Group reaffirmed a hold rating on shares of Target Corp. in a report on Monday, September 12th. Finally, Cowen and Company cut Target Corp. from an outperform rating to a market perform rating and lowered their price target for the company from $75.00 to $68.00 in a report on Monday, September 12th. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $76.82.
Shares of Target Corp. (NYSE:TGT) opened at 68.41 on Tuesday. The firm has a market cap of $39.32 billion, a PE ratio of 12.66 and a beta of 0.68. Target Corp. has a 52 week low of $65.50 and a 52 week high of $84.14. The stock has a 50 day moving average price of $69.40 and a 200 day moving average price of $73.53.
Target Corp. (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 17th. The retailer reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.11. Target Corp. had a return on equity of 23.59% and a net margin of 4.59%. The firm had revenue of $16.20 billion for the quarter. During the same period in the previous year, the business earned $1.22 EPS. The business’s revenue was down 7.2% on a year-over-year basis. Equities analysts expect that Target Corp. will post $4.95 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders of record on Wednesday, November 16th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date is Monday, November 14th. Target Corp.’s payout ratio is 44.44%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Telemus Capital LLC boosted its position in shares of Target Corp. by 333.7% in the first quarter. Telemus Capital LLC now owns 13,878 shares of the retailer’s stock worth $1,142,000 after buying an additional 10,678 shares during the last quarter. River Wealth Advisors LLC boosted its position in shares of Target Corp. by 4.0% in the first quarter. River Wealth Advisors LLC now owns 34,282 shares of the retailer’s stock worth $2,821,000 after buying an additional 1,307 shares during the last quarter. Commonwealth Equity Services Inc boosted its position in shares of Target Corp. by 14.4% in the first quarter. Commonwealth Equity Services Inc now owns 136,546 shares of the retailer’s stock worth $11,235,000 after buying an additional 17,164 shares during the last quarter. Aperio Group LLC boosted its position in shares of Target Corp. by 21.5% in the first quarter. Aperio Group LLC now owns 351,952 shares of the retailer’s stock worth $28,959,000 after buying an additional 62,383 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. bought a new position in shares of Target Corp. during the first quarter worth about $1,056,000. 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.
To view Vetr’s full report, visit Vetr’s official website.
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