Target (NYSE:TGT) Upgraded by Citigroup to Buy

Share on StockTwits

Citigroup upgraded shares of Target (NYSE:TGT) from a neutral rating to a buy rating in a research report report published on Thursday morning, BenzingaRatingsTable reports. Citigroup currently has $130.00 target price on the retailer’s stock, up from their previous target price of $80.00.

Other equities research analysts have also issued research reports about the stock. Sanford C. Bernstein restated a mkt perform rating on shares of Target in a research note on Friday, May 3rd. Wells Fargo & Co upgraded shares of Target from a market perform rating to an outperform rating and set a $115.00 price target for the company in a research note on Wednesday. Morgan Stanley upgraded shares of Target from an underweight rating to an equal weight rating and set a $67.00 price target for the company in a research note on Monday, May 20th. UBS Group raised their price target 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. Finally, Deutsche Bank upgraded shares of Target from a hold rating to a buy rating and raised their price target for the stock from $85.00 to $99.00 in a research note on Monday, August 5th. Eight research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $101.92.

Target stock opened at $104.39 on Thursday. The company’s 50 day moving average price is $86.54 and its two-hundred day moving average price is $80.74. The company has a quick ratio of 0.19, a current ratio of 0.88 and a debt-to-equity ratio of 1.21. Target has a 52 week low of $60.15 and a 52 week high of $106.52. The stock 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 (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 21st. The retailer reported $1.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.21. Target had a net margin of 3.96% and a return on equity of 26.48%. The company had revenue of $18.42 billion during the quarter, compared to analyst estimates of $18.32 billion. During the same quarter last year, the business posted $1.47 EPS. Target’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities analysts anticipate that Target will post 5.95 EPS for the current year.

The firm 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 $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 2.53%. This is a positive change from Target’s previous quarterly dividend of $0.64. The ex-dividend date is Tuesday, August 20th. Target’s payout ratio is currently 48.98%.

In related news, insider Michael Edward Mcnamara sold 11,891 shares of Target stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $88.79, for a total value of $1,055,801.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephanie A. Lundquist sold 8,367 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $88.01, for a total transaction of $736,379.67. The disclosure for this sale can be found here. Insiders sold a total of 24,421 shares of company stock valued at $2,162,689 over the last quarter. 0.24% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Target by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 40,186,903 shares of the retailer’s stock valued at $3,480,588,000 after purchasing an additional 522,633 shares in the last quarter. LSV Asset Management grew its position in shares of Target by 2.4% during the 1st quarter. LSV Asset Management now owns 7,391,837 shares of the retailer’s stock valued at $593,268,000 after purchasing an additional 171,019 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Target by 5.8% during the 4th quarter. Geode Capital Management LLC now owns 6,980,549 shares of the retailer’s stock valued at $460,727,000 after purchasing an additional 381,831 shares in the last quarter. Northern Trust Corp grew its position in shares of Target by 0.3% during the 2nd quarter. Northern Trust Corp now owns 6,944,281 shares of the retailer’s stock valued at $601,443,000 after purchasing an additional 19,238 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Target by 1.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,359,866 shares of the retailer’s stock valued at $377,608,000 after purchasing an additional 54,263 shares in the last quarter. Hedge funds and other institutional investors own 82.12% of the company’s stock.

Target Company Profile

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.

Featured Article: Reverse Stock Split

Analyst Recommendations for Target (NYSE:TGT)

Receive News & Ratings for Target Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Abundance Wealth Counselors Reduces Position in ISHARES TR/CORE MSCI TOTAL INTL STK
Abundance Wealth Counselors Reduces Position in ISHARES TR/CORE MSCI TOTAL INTL STK
Deutsche Bank Initiates Coverage on Encompass Health
Deutsche Bank Initiates Coverage on Encompass Health
Envestnet Inc  Insider William Crager Sells 72,750 Shares
Envestnet Inc Insider William Crager Sells 72,750 Shares
TransDigm Group Incorporated  CEO Sells $5,138,892.00 in Stock
TransDigm Group Incorporated CEO Sells $5,138,892.00 in Stock
Phillips 66  EVP Robert A. Herman Sells 47,433 Shares
Phillips 66 EVP Robert A. Herman Sells 47,433 Shares
Insider Selling: Amazon.com, Inc.  CEO Sells 2,800 Shares of Stock
Insider Selling: Amazon.com, Inc. CEO Sells 2,800 Shares of Stock


© 2006-2019 Ticker Report