Target (NYSE:TGT) Receives Hold Rating from Guggenheim

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Guggenheim reiterated their hold rating on shares of Target (NYSE:TGT) in a research note issued to investors on Wednesday morning, TipRanks reports.

Several other equities research analysts have also recently commented on the company. Deutsche Bank raised Target from a hold rating to a buy rating and lifted their target price for the company from $85.00 to $99.00 in a research note on Monday, August 5th. JPMorgan Chase & Co. set a $115.00 target price on Target and gave the company a buy rating in a research note on Wednesday. Goldman Sachs Group started coverage on Target in a research note on Thursday, July 11th. They issued a buy rating and a $102.00 target price for the company. Credit Suisse Group set a $90.00 target price on Target and gave the company a buy rating in a research note on Thursday, May 23rd. Finally, Citigroup raised Target from a neutral rating to a buy rating and lifted their target price for the company from $80.00 to $130.00 in a research note on Thursday. Eight research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $101.92.

NYSE TGT opened at $104.39 on Wednesday. The stock has a fifty day moving average of $86.54 and a 200-day moving average of $80.74. The stock has a market capitalization of $43.82 billion, a P/E ratio of 19.37, a price-to-earnings-growth ratio of 2.04 and a beta of 0.61. Target has a 52 week low of $60.15 and a 52 week high of $106.52. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.19 and a current ratio of 0.88.

Target (NYSE:TGT) last released its earnings results on Wednesday, August 21st. The retailer reported $1.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.21. The company had revenue of $18.42 billion during the quarter, compared to analysts’ expectations of $18.32 billion. Target had a return on equity of 26.48% and a net margin of 3.96%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the firm earned $1.47 EPS. Equities research analysts forecast that Target will post 5.95 earnings per share 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. The ex-dividend date of this dividend is Tuesday, August 20th. This is a boost from Target’s previous quarterly dividend of $0.64. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.53%. Target’s payout ratio is 48.98%.

In related news, insider Michael Edward Mcnamara sold 11,891 shares of Target stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $88.79, for a total transaction of $1,055,801.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Roxanne S. Austin sold 4,163 shares of Target 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. Over the last ninety days, insiders have sold 24,421 shares of company stock valued at $2,162,689. 0.24% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the business. Carnick & Kubik Group LLC lifted its holdings in Target by 23.0% during the second quarter. Carnick & Kubik Group LLC now owns 60,816 shares of the retailer’s stock worth $5,268,000 after acquiring an additional 11,376 shares in the last quarter. Breiter Capital Management Inc. lifted its holdings in Target by 4.0% during the second quarter. Breiter Capital Management Inc. now owns 6,348 shares of the retailer’s stock worth $483,000 after acquiring an additional 245 shares in the last quarter. Murphy Pohlad Asset Management LLC lifted its holdings in shares of Target by 3.1% in the first quarter. Murphy Pohlad Asset Management LLC now owns 54,688 shares of the retailer’s stock valued at $4,389,000 after purchasing an additional 1,645 shares in the last quarter. Goelzer Investment Management Inc. lifted its holdings in shares of Target by 1.3% in the second quarter. Goelzer Investment Management Inc. now owns 86,320 shares of the retailer’s stock valued at $7,476,000 after purchasing an additional 1,104 shares in the last quarter. Finally, Azimuth Capital Management LLC lifted its holdings in shares of Target by 2.2% in the first quarter. Azimuth Capital Management LLC now owns 75,296 shares of the retailer’s stock valued at $6,043,000 after purchasing an additional 1,625 shares in the last quarter. Hedge funds and other institutional investors own 82.12% 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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