Target (NYSE:TGT) PT Raised to $209.00

Target (NYSE:TGT) had its target price hoisted by Deutsche Bank Aktiengesellschaft from $206.00 to $209.00 in a research note issued to investors on Tuesday morning.

Several other brokerages have also commented on TGT. DA Davidson increased their price target on shares of Target from $167.00 to $195.00 and gave the company a buy rating in a research note on Wednesday, March 6th. Bank of America increased their price target on shares of Target from $160.00 to $190.00 and gave the company a buy rating in a research note on Wednesday, March 6th. Oppenheimer increased their price objective on Target from $160.00 to $170.00 and gave the company an outperform rating in a report on Monday, February 26th. Barclays increased their price objective on Target from $142.00 to $169.00 and gave the company an equal weight rating in a report on Wednesday, March 6th. Finally, Citigroup raised Target from a neutral rating to a buy rating and set a $180.00 price objective for the company in a report on Tuesday, May 7th. Ten research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $180.41.

Target Trading Up 0.6 %

Shares of TGT opened at $145.23 on Tuesday. The firm’s fifty day moving average is $164.92 and its two-hundred day moving average is $149.59. The company has a quick ratio of 0.29, a current ratio of 0.86 and a debt-to-equity ratio of 0.97. The stock has a market cap of $67.19 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 1.34 and a beta of 1.16. Target has a 52-week low of $102.93 and a 52-week high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). Target had a return on equity of 31.91% and a net margin of 3.87%. The business had revenue of $24.14 billion for the quarter, compared to analysts’ expectations of $24.52 billion. During the same quarter last year, the company earned $2.05 earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. Research analysts forecast that Target will post 9.39 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date is Tuesday, May 14th. Target’s dividend payout ratio is currently 49.38%.

Insider Buying and Selling

In other Target news, insider Brian C. Cornell sold 45,000 shares of the firm’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 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 filing with the SEC, which can be accessed through this link. In related news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the transaction, the insider now directly owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christina Hennington sold 4,600 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $170.88, for a total value of $786,048.00. Following the transaction, the insider now directly owns 38,487 shares in the company, valued at $6,576,658.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,600 shares of company stock worth $8,819,598. 0.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Target

A number of institutional investors have recently made changes to their positions in TGT. WealthPlan Investment Management LLC increased its holdings in shares of Target by 1,592.0% in the 3rd quarter. WealthPlan Investment Management LLC now owns 8,494 shares of the retailer’s stock valued at $939,000 after acquiring an additional 7,992 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Target in the 3rd quarter valued at approximately $52,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of Target by 14.9% in the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,108 shares of the retailer’s stock valued at $233,000 after acquiring an additional 274 shares during the last quarter. Main Street Financial Solutions LLC boosted its position in Target by 7.0% during the 3rd quarter. Main Street Financial Solutions LLC now owns 6,235 shares of the retailer’s stock valued at $689,000 after purchasing an additional 410 shares during the period. Finally, Larson Financial Group LLC boosted its position in Target by 13.8% during the 3rd quarter. Larson Financial Group LLC now owns 5,269 shares of the retailer’s stock valued at $583,000 after purchasing an additional 637 shares during the period. 79.73% of the stock is currently owned by institutional investors.

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.