Evercore ISI Raises Target (NYSE:TGT) Price Target to $185.00

Target (NYSE:TGT) had its price target upped by Evercore ISI from $180.00 to $185.00 in a research note published on Tuesday, Benzinga reports. They currently have an in-line rating on the retailer’s stock.

A number of other equities research analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded Target from a hold rating to a buy rating and lifted their target price for the company from $149.00 to $206.00 in a research report on Wednesday, March 6th. Morgan Stanley lifted their target price on Target from $165.00 to $190.00 and gave the company an overweight rating in a research report on Wednesday, March 6th. Bank of America lifted their target price on Target from $160.00 to $190.00 and gave the company a buy rating in a research report on Wednesday, March 6th. Citigroup lifted their target price on Target from $142.00 to $180.00 and gave the company a neutral rating in a research report on Wednesday, March 6th. Finally, Barclays lifted their target price on Target from $142.00 to $169.00 and gave the company an equal weight rating in a research report on Wednesday, March 6th. Eleven research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $179.73.

Target Stock Performance

NYSE TGT opened at $177.12 on Tuesday. The stock’s fifty day moving average is $153.95 and its two-hundred day moving average is $134.65. The firm has a market capitalization of $81.77 billion, a P/E ratio of 19.83, a price-to-earnings-growth ratio of 1.62 and a beta of 1.13. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.29 and a current ratio of 0.91. Target has a fifty-two week low of $102.93 and a fifty-two week high of $177.40.

Target (NYSE:TGT) last released its quarterly earnings data on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.57. The company had revenue of $31.47 billion for the quarter, compared to analyst estimates of $31.83 billion. Target had a return on equity of 33.41% and a net margin of 3.85%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.89 earnings per share. On average, research analysts anticipate that Target will post 9.39 earnings per share for the current year.

Target Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be given a dividend of $1.10 per share. The ex-dividend date is Tuesday, May 14th. This represents a $4.40 annualized dividend and a dividend yield of 2.48%. Target’s dividend payout ratio is currently 49.27%.

Insider Transactions at Target

In other news, insider Melissa K. Kremer sold 3,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $165.05, for a total transaction of $495,150.00. Following the completion of the transaction, the insider now directly owns 30,527 shares of the company’s stock, valued at approximately $5,038,481.35. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $167.52, for a total value of $7,538,400.00. Following the completion of the sale, the insider now directly owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Melissa K. Kremer sold 3,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $165.05, for a total value of $495,150.00. Following the completion of the sale, the insider now directly owns 30,527 shares of the company’s stock, valued at $5,038,481.35. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,600 shares of company stock valued at $8,819,598. 0.23% of the stock is currently owned by corporate insiders.

Institutional Trading of Target

A number of large investors have recently made changes to their positions in TGT. Moneta Group Investment Advisors LLC boosted its position in shares of Target by 95,980.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 18,537,742 shares of the retailer’s stock valued at $2,762,865,000 after purchasing an additional 18,518,448 shares during the period. Norges Bank acquired a new stake in shares of Target in the 4th quarter valued at about $759,810,000. International Assets Investment Management LLC boosted its position in shares of Target by 15,009.5% in the 4th quarter. International Assets Investment Management LLC now owns 1,757,088 shares of the retailer’s stock valued at $250,244,000 after purchasing an additional 1,745,459 shares during the period. Clearbridge Investments LLC boosted its position in shares of Target by 37,301.2% in the 3rd quarter. Clearbridge Investments LLC now owns 1,698,764 shares of the retailer’s stock valued at $187,832,000 after purchasing an additional 1,694,222 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Target by 252.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,166,161 shares of the retailer’s stock valued at $358,782,000 after purchasing an additional 1,551,551 shares during the period. 79.73% of the stock is owned by institutional investors and hedge funds.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.