Target (NYSE:TGT) Now Covered by Analysts at Truist

Truist assumed coverage on shares of Target (NYSE:TGT) in a research note published on Thursday morning, The Fly reports. The firm issued a buy rating on the retailer’s stock.

Other research analysts have also issued reports about the stock. Gordon Haskett lowered shares of Target from a buy rating to a hold rating in a report on Friday, December 17th. Credit Suisse Group began coverage on shares of Target in a research report on Friday, November 19th. They issued an outperform rating and a $286.00 target price for the company. The Goldman Sachs Group upped their target price on shares of Target from $281.00 to $308.00 and gave the company a buy rating in a research note on Tuesday, October 19th. Raymond James boosted their price target on shares of Target from $285.00 to $290.00 and gave the company a strong-buy rating in a report on Thursday, November 18th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Target from $306.00 to $317.00 and gave the stock a buy rating in a report on Wednesday, November 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Target currently has an average rating of Buy and a consensus price target of $259.08.

Shares of TGT stock traded down $4.55 during trading on Thursday, hitting $221.28. 87,644 shares of the stock traded hands, compared to its average volume of 3,670,486. The firm has a market capitalization of $106.02 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.97 and a quick ratio of 0.33. Target has a 52-week low of $166.82 and a 52-week high of $268.98. The firm’s fifty day moving average price is $238.88 and its 200-day moving average price is $245.45.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 17th. The retailer reported $3.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.20. The company had revenue of $25.29 billion during the quarter, compared to the consensus estimate of $24.60 billion. Target had a net margin of 6.56% and a return on equity of 44.81%. Target’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.79 earnings per share. As a group, equities research analysts expect that Target will post 13.19 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 10th. Investors of record on Wednesday, February 16th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Tuesday, February 15th. This represents a $3.60 dividend on an annualized basis and a yield of 1.63%. Target’s dividend payout ratio (DPR) is 26.49%.

In related news, insider Brian C. Cornell sold 30,000 shares of the firm’s stock in a transaction on Thursday, December 2nd. The stock was sold at an average price of $244.72, for a total value of $7,341,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jill Sando sold 3,186 shares of the firm’s stock in a transaction dated Wednesday, November 24th. The shares were sold at an average price of $247.61, for a total value of $788,885.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,277 shares of company stock worth $15,643,765. 0.29% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TGT. Mascoma Wealth Management LLC purchased a new stake in shares of Target in the third quarter valued at about $28,000. Atwood & Palmer Inc. raised its holdings in Target by 458.3% during the third quarter. Atwood & Palmer Inc. now owns 134 shares of the retailer’s stock worth $31,000 after purchasing an additional 110 shares in the last quarter. Activest Wealth Management raised its holdings in Target by 107.5% during the third quarter. Activest Wealth Management now owns 139 shares of the retailer’s stock worth $32,000 after purchasing an additional 72 shares in the last quarter. Bell Investment Advisors Inc purchased a new position in Target during the third quarter worth about $34,000. Finally, Guidance Point Advisors LLC purchased a new position in Target during the third quarter worth about $40,000. Institutional investors own 78.34% of the company’s stock.

About Target

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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