Vetr upgraded shares of Target (NYSE:TGT) from a buy rating to a strong-buy rating in a research note published on Wednesday. They currently have $80.00 target price on the retailer’s stock.
Several other analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Target from a buy rating to a hold rating in a research report on Tuesday, March 13th. Morgan Stanley set a $64.00 target price on shares of Target and gave the company a sell rating in a research report on Wednesday, March 7th. Telsey Advisory Group cut their target price on shares of Target from $83.00 to $80.00 and set a market perform rating for the company in a research report on Wednesday, March 7th. Susquehanna Bancshares set a $95.00 target price on shares of Target and gave the company a buy rating in a research report on Monday, March 5th. Finally, Credit Suisse Group began coverage on shares of Target in a research report on Monday, March 5th. They set a buy rating and a $86.00 target price for the company. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $74.20.
Shares of TGT stock opened at $67.88 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.30 and a debt-to-equity ratio of 0.97. The stock has a market cap of $38,126.19, a P/E ratio of 12.69, a P/E/G ratio of 2.96 and a beta of 0.71. Target has a 12-month low of $48.56 and a 12-month high of $78.70.
The company also recently declared a quarterly dividend, which will be paid on Sunday, June 10th. Shareholders of record on Wednesday, May 16th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.65%. Target’s payout ratio is currently 46.36%.
In related news, insider Stephanie A. Lundquist sold 3,000 shares of the company’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $78.08, for a total transaction of $234,240.00. Following the completion of the transaction, the insider now owns 16,906 shares in the company, valued at $1,320,020.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Robert M. Harrison sold 8,557 shares of the company’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $76.74, for a total transaction of $656,664.18. Following the transaction, the insider now owns 13,288 shares of the company’s stock, valued at approximately $1,019,721.12. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.
Large investors have recently modified their holdings of the stock. Oppenheimer & Co. Inc. boosted its position in shares of Target by 10.7% during the third quarter. Oppenheimer & Co. Inc. now owns 65,967 shares of the retailer’s stock worth $3,893,000 after acquiring an additional 6,368 shares during the last quarter. SNS Financial Group LLC boosted its position in shares of Target by 11.9% during the fourth quarter. SNS Financial Group LLC now owns 15,239 shares of the retailer’s stock worth $994,000 after acquiring an additional 1,623 shares during the last quarter. Dai Ichi Life Insurance Company Ltd boosted its position in shares of Target by 177.0% during the third quarter. Dai Ichi Life Insurance Company Ltd now owns 46,946 shares of the retailer’s stock worth $2,770,000 after acquiring an additional 30,000 shares during the last quarter. Legal & General Group Plc raised its stake in Target by 3.5% during the third quarter. Legal & General Group Plc now owns 3,594,505 shares of the retailer’s stock valued at $212,117,000 after purchasing an additional 120,278 shares in the last quarter. Finally, Mutual of Omaha Bank Wealth Management raised its stake in Target by 27.4% during the fourth quarter. Mutual of Omaha Bank Wealth Management now owns 22,843 shares of the retailer’s stock valued at $1,491,000 after purchasing an additional 4,913 shares in the last quarter. Hedge funds and other institutional investors own 87.01% of the company’s stock.
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Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
To view Vetr’s full report, visit Vetr’s official website.
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