Target (NYSE:TGT) Price Target Raised to $107.00 at Morgan Stanley

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Target (NYSE:TGT) had its price objective boosted by Morgan Stanley from $76.00 to $107.00 in a research note released on Thursday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the retailer’s stock.

A number of other analysts have also recently issued reports on the stock. Goldman Sachs Group began coverage on shares of Target in a research note on Thursday, July 11th. They issued a buy rating and a $102.00 price objective for the company. JPMorgan Chase & Co. set a $115.00 price objective on shares of Target and gave the stock a buy rating in a research note on Wednesday. Sanford C. Bernstein reissued a mkt perform rating on shares of Target in a research note on Friday, May 3rd. Credit Suisse Group set a $90.00 price objective on shares of Target and gave the stock a buy rating in a research note on Thursday, May 23rd. Finally, UBS Group increased their price objective on shares of Target from $77.00 to $82.00 and gave the stock a neutral rating in a research note on Thursday, May 23rd. Eight research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $101.92.

TGT opened at $104.39 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.19 and a debt-to-equity ratio of 1.21. Target has a 1-year low of $60.15 and a 1-year high of $106.52. The company has a market capitalization of $43.82 billion, a PE ratio of 19.37, a PEG ratio of 2.04 and a beta of 0.61. The firm’s 50 day simple moving average is $86.54 and its two-hundred day simple moving average is $80.74.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 21st. The retailer reported $1.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.21. The business had revenue of $18.42 billion for the quarter, compared to the consensus estimate of $18.32 billion. Target had a net margin of 3.96% and a return on equity of 26.48%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the firm earned $1.47 earnings per share. Equities analysts forecast that Target will post 5.95 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 2.53%. This is a boost from Target’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Tuesday, August 20th. Target’s dividend payout ratio (DPR) is presently 48.98%.

In related news, insider Michael Edward Mcnamara sold 11,891 shares of the firm’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $88.79, for a total transaction of $1,055,801.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Roxanne S. Austin sold 4,163 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $89.00, for a total transaction of $370,507.00. The disclosure for this sale can be found here. Insiders have sold 24,421 shares of company stock valued at $2,162,689 over the last ninety days. 0.24% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Carnick & Kubik Group LLC grew its stake in shares of Target by 23.0% in the 2nd quarter. Carnick & Kubik Group LLC now owns 60,816 shares of the retailer’s stock worth $5,268,000 after buying an additional 11,376 shares in the last quarter. Breiter Capital Management Inc. grew its stake in shares of Target by 4.0% in the 2nd quarter. Breiter Capital Management Inc. now owns 6,348 shares of the retailer’s stock worth $483,000 after buying an additional 245 shares in the last quarter. Murphy Pohlad Asset Management LLC grew its stake in shares of Target by 3.1% in the 1st quarter. Murphy Pohlad Asset Management LLC now owns 54,688 shares of the retailer’s stock worth $4,389,000 after buying an additional 1,645 shares in the last quarter. Goelzer Investment Management Inc. grew its stake in shares of Target by 1.3% in the 2nd quarter. Goelzer Investment Management Inc. now owns 86,320 shares of the retailer’s stock worth $7,476,000 after buying an additional 1,104 shares in the last quarter. Finally, Azimuth Capital Management LLC grew its stake in shares of Target by 2.2% in the 1st quarter. Azimuth Capital Management LLC now owns 75,296 shares of the retailer’s stock worth $6,043,000 after buying an additional 1,625 shares in the last quarter. 82.12% of the stock is owned by institutional investors.

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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