Target Corporation (NYSE:TGT) to Issue Dividend Increase – $1.16 Per Share

Target Corporation (NYSE:TGT) declared a quarterly dividend on Thursday, June 11th. Stockholders of record on Wednesday, August 12th will be paid a dividend of 1.16 per share by the retailer on Tuesday, September 1st. This represents a c) dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, August 12th. This is a 1.8% increase from Target’s previous quarterly dividend of $1.14.

Target has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 54 consecutive years. Target has a payout ratio of 55.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Target to earn $8.89 per share next year, which means the company should continue to be able to cover its $4.56 annual dividend with an expected future payout ratio of 51.3%.

Target Trading Up 3.6%

Shares of Target stock opened at $132.59 on Friday. Target has a 52-week low of $83.44 and a 52-week high of $133.10. The company has a quick ratio of 0.30, a current ratio of 0.93 and a debt-to-equity ratio of 0.87. The company’s 50-day simple moving average is $125.12 and its 200-day simple moving average is $113.34. The firm has a market cap of $60.22 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 2.50 and a beta of 1.00.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.24. Target had a net margin of 3.24% and a return on equity of 22.92%. The business had revenue of $25.44 billion for the quarter, compared to analyst estimates of $24.66 billion. During the same period in the previous year, the business posted $1.30 earnings per share. The business’s revenue was up 6.7% compared to the same quarter last year. Target has set its FY 2026 guidance at 7.500-8.500 EPS. As a group, equities research analysts anticipate that Target will post 8.35 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on TGT shares. Roth Mkm reissued a “neutral” rating and set a $114.00 price objective on shares of Target in a report on Friday, May 22nd. Mizuho set a $120.00 price objective on shares of Target in a report on Thursday, March 5th. Morgan Stanley boosted their price objective on shares of Target from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, March 4th. Wells Fargo & Company boosted their price objective on shares of Target from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Finally, Barclays reissued an “underweight” rating on shares of Target in a report on Monday, June 1st. Eleven investment analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Target presently has a consensus rating of “Hold” and an average target price of $125.93.

Target Company Profile

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.