Target (NYSE:TGT) Price Target Increased to $103.00 by Analysts at UBS Group

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Target (NYSE:TGT) had its price objective boosted by UBS Group from $86.00 to $103.00 in a research note released on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has a neutral rating on the retailer’s stock.

Other equities research analysts have also issued reports about the company. Sanford C. Bernstein reissued a mkt perform rating on shares of Target in a research report on Friday, May 3rd. Citigroup upgraded Target from a neutral rating to a buy rating and upped their price objective for the stock from $80.00 to $130.00 in a research note on Thursday. Bank of America upped their price objective on Target from $105.00 to $125.00 and gave the stock a buy rating in a research note on Thursday. JPMorgan Chase & Co. set a $115.00 price objective on Target and gave the stock a buy rating in a research note on Wednesday. Finally, Buckingham Research restated a buy rating and set a $117.00 price objective (up from $102.00) on shares of Target in a research note on Thursday. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $101.92.

TGT stock 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. The firm has a market cap of $43.82 billion, a P/E ratio of 19.37, a P/E/G ratio of 2.04 and a beta of 0.61. Target has a 12-month low of $60.15 and a 12-month high of $106.52. The stock’s 50 day simple moving average is $86.54 and its 200 day simple moving average is $80.74.

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

The business also recently disclosed 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 is an increase from Target’s previous quarterly dividend of $0.64. This represents a $2.64 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Tuesday, August 20th. Target’s dividend payout ratio is presently 48.98%.

In other news, insider Michael Edward Mcnamara sold 11,891 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $88.79, for a total value of $1,055,801.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roxanne S. Austin sold 4,163 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $89.00, for a total value of $370,507.00. The disclosure for this sale can be found here. In the last three months, insiders sold 24,421 shares of company stock valued at $2,162,689. Company insiders own 0.24% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Krane Funds Advisors LLC bought a new position in shares of Target in the second quarter worth $25,000. Larson Financial Group LLC bought a new position in shares of Target in the second quarter worth $31,000. Phocas Financial Corp. bought a new position in shares of Target in the second quarter worth $329,000. Icon Wealth Partners LLC bought a new position in shares of Target in the first quarter worth $31,000. Finally, Advisory Alpha LLC bought a new position in shares of Target in the first quarter worth $30,000. 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.

Further Reading: Are Wall Street analysts’ stock ratings worth following?

Analyst Recommendations for Target (NYSE:TGT)

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