Target (NYSE:TGT) Stock Price Up 3.3% – Here’s What Happened

Target Corporation (NYSE:TGT) rose 3.3% during mid-day trading on Friday . The stock traded as high as $98.86 and last traded at $99.7530. Approximately 957,796 shares were traded during trading, a decline of 87% from the average daily volume of 7,338,900 shares. The stock had previously closed at $96.53.

Analyst Ratings Changes

A number of equities analysts have commented on TGT shares. Roth Capital set a $88.00 price target on Target in a research note on Thursday, November 20th. Royal Bank Of Canada lowered their price objective on shares of Target from $107.00 to $99.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. Piper Sandler reissued a “neutral” rating and issued a $85.00 target price (down from $94.00) on shares of Target in a research note on Thursday, November 20th. BMO Capital Markets lowered their price target on Target from $95.00 to $90.00 and set a “market perform” rating for the company in a research report on Thursday, November 20th. Finally, Evercore ISI cut their price objective on Target from $100.00 to $95.00 and set an “in-line” rating on the stock in a research report on Tuesday, December 9th. Ten investment analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $102.62.

Target Stock Performance

The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.27 and a current ratio of 0.97. The stock has a market cap of $44.34 billion, a PE ratio of 11.92, a P/E/G ratio of 10.50 and a beta of 1.13. The business’s fifty day moving average price is $92.48 and its 200-day moving average price is $95.50.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, November 19th. The retailer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.07. The firm had revenue of $25.27 billion for the quarter, compared to analysts’ expectations of $25.44 billion. Target had a net margin of 3.58% and a return on equity of 22.74%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.85 EPS. Target has set its FY 2025 guidance at 7.000-8.000 EPS. As a group, equities research analysts forecast that Target Corporation will post 8.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TGT. Vanguard Group Inc. raised its position in Target by 14.7% during the second quarter. Vanguard Group Inc. now owns 51,444,338 shares of the retailer’s stock valued at $5,074,984,000 after purchasing an additional 6,607,982 shares during the period. Kingstone Capital Partners Texas LLC bought a new position in Target during the second quarter valued at $595,839,000. Norges Bank bought a new stake in shares of Target in the 2nd quarter worth about $578,009,000. State Street Corp grew its holdings in Target by 4.3% during the 2nd quarter. State Street Corp now owns 36,736,101 shares of the retailer’s stock valued at $3,624,016,000 after purchasing an additional 1,529,026 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Target by 133.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,223,776 shares of the retailer’s stock worth $219,376,000 after purchasing an additional 1,273,129 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

About Target

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.