Evercore ISI Cuts Target (NYSE:TGT) Price Target to $103.00

Target (NYSE:TGT) had its price target cut by Evercore ISI from $105.00 to $103.00 in a report published on Tuesday morning,Benzinga reports. They currently have an in-line rating on the retailer’s stock.

Other equities analysts have also recently issued research reports about the stock. Wall Street Zen raised shares of Target from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Target in a research note on Saturday, September 27th. Wedbush reaffirmed an “outperform” rating on shares of Target in a research note on Thursday, July 17th. Truist Financial reduced their price objective on shares of Target from $102.00 to $83.00 and set a “hold” rating for the company in a research note on Thursday, October 2nd. Finally, Jefferies Financial Group decreased their price target on shares of Target from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, August 20th. Nine analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $109.65.

Target Price Performance

Shares of NYSE:TGT opened at $89.12 on Tuesday. The company has a 50 day moving average of $94.76 and a 200 day moving average of $97.09. The stock has a market cap of $40.50 billion, a P/E ratio of 10.39, a P/E/G ratio of 2.62 and a beta of 1.18. Target has a 12 month low of $86.30 and a 12 month high of $161.50. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, beating the consensus estimate of $2.04 by $0.01. The company had revenue of $24.99 billion during the quarter, compared to analysts’ expectations of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. Target’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, sell-side analysts forecast that Target will post 8.69 EPS for the current fiscal year.

Target Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be paid a $1.14 dividend. This is a positive change from Target’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.1%. Target’s dividend payout ratio is currently 53.15%.

Institutional Investors Weigh In On Target

A number of institutional investors have recently made changes to their positions in the business. Centurion Wealth Management LLC boosted its stake in shares of Target by 12.7% in the 3rd quarter. Centurion Wealth Management LLC now owns 3,458 shares of the retailer’s stock valued at $310,000 after purchasing an additional 390 shares in the last quarter. Toth Financial Advisory Corp boosted its stake in shares of Target by 264.2% in the 3rd quarter. Toth Financial Advisory Corp now owns 1,100 shares of the retailer’s stock valued at $99,000 after purchasing an additional 798 shares in the last quarter. Mitchell & Pahl Private Wealth LLC boosted its stake in shares of Target by 8.2% in the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 15,088 shares of the retailer’s stock valued at $1,353,000 after purchasing an additional 1,138 shares in the last quarter. NavPoint Financial Inc. boosted its stake in shares of Target by 15.6% in the 3rd quarter. NavPoint Financial Inc. now owns 17,893 shares of the retailer’s stock valued at $1,605,000 after purchasing an additional 2,418 shares in the last quarter. Finally, Asset Allocation Strategies LLC purchased a new stake in shares of Target in the 3rd quarter valued at $201,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.