Analysts Set Target Co. (NYSE:TGT) PT at $261.76

Target Co. (NYSE:TGT) has earned a consensus rating of “Buy” from the twenty-three ratings firms that are covering the company, Marketbeat reports. Five analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $261.76.

TGT has been the subject of several analyst reports. Bank of America lifted their price target on shares of Target from $317.00 to $329.00 and gave the company a “buy” rating in a report on Thursday, November 18th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Target from $306.00 to $317.00 and gave the stock a “buy” rating in a research note on Wednesday, November 10th. DA Davidson reissued a “buy” rating on shares of Target in a research note on Thursday, August 19th. Citigroup lifted their price objective on shares of Target from $258.00 to $287.00 and gave the stock a “buy” rating in a research note on Thursday, August 19th. Finally, Zacks Investment Research lowered shares of Target from a “buy” rating to a “hold” rating and set a $276.00 price objective on the stock. in a research note on Tuesday, October 26th.

In other news, insider Christina Hennington sold 4,173 shares of the stock in a transaction dated Friday, November 19th. The shares were sold at an average price of $250.95, for a total value of $1,047,214.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian C. Cornell sold 25,000 shares of the stock in a transaction dated Thursday, September 2nd. The stock was sold at an average price of $245.98, for a total transaction of $6,149,500.00. Following the completion of the transaction, the insider now directly owns 195,271 shares of the company’s stock, valued at approximately $48,032,760.58. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. OLD Mission Capital LLC bought a new position in shares of Target in the 3rd quarter worth $200,000. Principal Financial Group Inc. lifted its holdings in shares of Target by 0.8% in the 1st quarter. Principal Financial Group Inc. now owns 1,209,328 shares of the retailer’s stock worth $239,532,000 after purchasing an additional 9,951 shares in the last quarter. Eaton Vance Management lifted its holdings in shares of Target by 5.2% in the 1st quarter. Eaton Vance Management now owns 114,264 shares of the retailer’s stock worth $22,632,000 after purchasing an additional 5,679 shares in the last quarter. Voloridge Investment Management LLC bought a new position in shares of Target in the 1st quarter worth $4,276,000. Finally, Lombard Odier Asset Management USA Corp bought a new position in Target during the 1st quarter valued at $449,000. 78.36% of the stock is owned by institutional investors.

Shares of TGT traded down $0.42 during mid-day trading on Friday, hitting $248.76. 3,051,972 shares of the company’s stock were exchanged, compared to its average volume of 3,363,392. The firm has a fifty day moving average of $247.07 and a two-hundred day moving average of $243.89. Target has a twelve month low of $166.82 and a twelve month high of $268.98. The stock has a market cap of $121.40 billion, a price-to-earnings ratio of 19.81, a P/E/G ratio of 1.42 and a beta of 1.03. The company has a quick ratio of 0.46, a current ratio of 1.04 and a debt-to-equity ratio of 0.78.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, November 17th. The retailer reported $3.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.83 by $0.20. Target had a net margin of 6.29% and a return on equity of 44.68%. The company had revenue of $25.29 billion for the quarter, compared to analyst estimates of $24.60 billion. During the same quarter in the prior year, the business posted $2.79 EPS. Target’s quarterly revenue was up 13.2% on a year-over-year basis. On average, equities analysts predict that Target will post 12.97 earnings per share for the current year.

Target declared that its board has approved a stock buyback plan on Wednesday, August 18th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the retailer to purchase up to 12.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 10th. Shareholders of record on Wednesday, November 17th will be issued a $0.90 dividend. The ex-dividend date is Tuesday, November 16th. This represents a $3.60 annualized dividend and a dividend yield of 1.45%. Target’s dividend payout ratio is currently 28.66%.

Target Company Profile

Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.

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Analyst Recommendations for Target (NYSE:TGT)

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