Target (TGT) Given a $105.00 Price Target at Bank of America

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Bank of America set a $105.00 price target on Target (NYSE:TGT) in a research report released on Thursday, Stock Target Advisor reports. The brokerage currently has a buy rating on the retailer’s stock.

TGT has been the subject of a number of other research reports. Zacks Investment Research raised Target from a hold rating to a buy rating and set a $86.00 price objective for the company in a research report on Friday, March 8th. Telsey Advisory Group reaffirmed an outperform rating and set a $88.00 price objective (up previously from $86.00) on shares of Target in a research report on Wednesday, March 6th. Citigroup reaffirmed a neutral rating and set a $78.00 price objective on shares of Target in a research report on Tuesday, February 26th. BMO Capital Markets raised their price objective on Target from $70.00 to $78.00 and gave the company a market perform rating in a research report on Wednesday, March 6th. Finally, Sanford C. Bernstein reaffirmed a mkt perform rating on shares of Target in a research report on Friday, May 3rd. Twelve investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $89.97.

TGT stock opened at $81.57 on Thursday. Target has a twelve month low of $60.15 and a twelve month high of $90.39. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.83 and a quick ratio of 0.20. The company has a market cap of $42.05 billion, a P/E ratio of 15.13, a P/E/G ratio of 1.97 and a beta of 0.65.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, May 22nd. The retailer reported $1.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.10. Target had a return on equity of 25.74% and a net margin of 3.90%. The company had revenue of $17.63 billion during the quarter, compared to analyst estimates of $17.49 billion. During the same quarter last year, the company earned $1.32 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities research analysts forecast that Target will post 5.82 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Tuesday, May 14th. Target’s payout ratio is 47.50%.

In other Target news, insider Janna A. Potts sold 8,759 shares of Target stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $79.00, for a total value of $691,961.00. Following the completion of the sale, the insider now owns 27,720 shares of the company’s stock, valued at approximately $2,189,880. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Robert M. Harrison sold 1,791 shares of Target stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $80.28, for a total value of $143,781.48. Following the completion of the sale, the insider now directly owns 12,836 shares of the company’s stock, valued at approximately $1,030,474.08. The disclosure for this sale can be found here. In the last three months, insiders sold 45,736 shares of company stock valued at $3,466,370. Corporate insiders own 0.19% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Target by 3.2% in the 4th quarter. BlackRock Inc. now owns 43,222,017 shares of the retailer’s stock worth $2,856,544,000 after buying an additional 1,334,425 shares during the last quarter. Vanguard Group Inc boosted its stake in shares of Target by 0.4% in the 3rd quarter. Vanguard Group Inc now owns 38,331,487 shares of the retailer’s stock worth $3,381,221,000 after buying an additional 151,096 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Target by 5,697.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 18,484,117 shares of the retailer’s stock worth $280,000 after buying an additional 18,165,298 shares during the last quarter. LSV Asset Management boosted its stake in shares of Target by 2.4% in the 1st quarter. LSV Asset Management now owns 7,391,837 shares of the retailer’s stock worth $593,268,000 after buying an additional 171,019 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Target by 3.0% in the 1st quarter. Geode Capital Management LLC now owns 7,192,185 shares of the retailer’s stock worth $576,875,000 after buying an additional 211,636 shares during the last quarter. Hedge funds and other institutional investors own 82.48% of the company’s stock.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home d├ęcor products, electronics, toys, seasonal offerings, and other merchandise.

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Analyst Recommendations for Target (NYSE:TGT)

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