Brokerages Set Target Corporation (NYSE:TGT) Target Price at $102.79

Target Corporation (NYSE:TGT) has been given an average rating of “Hold” by the thirty-six brokerages that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, twenty-one have assigned a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $102.7931.

TGT has been the subject of several research analyst reports. Cowen restated a “hold” rating on shares of Target in a research report on Monday, November 10th. Wall Street Zen upgraded Target from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Guggenheim reissued a “buy” rating and set a $115.00 target price on shares of Target in a report on Monday, October 27th. Evercore ISI reaffirmed a “positive” rating and issued a $100.00 price target on shares of Target in a research note on Thursday, November 20th. Finally, Piper Sandler reiterated a “neutral” rating and set a $85.00 price target (down from $94.00) on shares of Target in a research report on Thursday, November 20th.

Hedge Funds Weigh In On Target

Several hedge funds and other institutional investors have recently modified their holdings of TGT. Brighton Jones LLC grew its position in shares of Target by 101.3% in the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock valued at $822,000 after purchasing an additional 3,059 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in Target by 2.5% during the first quarter. Commonwealth Equity Services LLC now owns 318,866 shares of the retailer’s stock worth $33,277,000 after buying an additional 7,882 shares during the last quarter. Cary Street Partners Financial LLC grew its holdings in Target by 21.2% in the 1st quarter. Cary Street Partners Financial LLC now owns 26,682 shares of the retailer’s stock valued at $2,785,000 after buying an additional 4,659 shares in the last quarter. Empower Advisory Group LLC grew its holdings in Target by 4.4% in the 1st quarter. Empower Advisory Group LLC now owns 363,257 shares of the retailer’s stock valued at $37,910,000 after buying an additional 15,177 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its stake in shares of Target by 9.7% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,203 shares of the retailer’s stock worth $126,000 after acquiring an additional 106 shares during the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Trading Up 0.7%

Shares of NYSE:TGT opened at $92.19 on Thursday. The business’s 50 day moving average price is $90.45 and its 200-day moving average price is $95.36. Target has a 1 year low of $83.44 and a 1 year high of $145.08. The firm has a market capitalization of $41.74 billion, a price-to-earnings ratio of 11.19, a price-to-earnings-growth ratio of 10.03 and a beta of 1.13. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.97 and a quick ratio of 0.27.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, November 19th. The retailer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.71 by $0.07. The company had revenue of $25.27 billion during the quarter, compared to analyst estimates of $25.44 billion. Target had a net margin of 3.58% and a return on equity of 22.74%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.85 EPS. Target has set its FY 2025 guidance at 7.000-8.000 EPS. On average, equities research analysts forecast that Target will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th were issued a dividend of $1.14 per share. The ex-dividend date of this dividend was Wednesday, November 12th. This is a positive change from Target’s previous quarterly dividend of $1.12. This represents a $4.56 dividend on an annualized basis and a dividend yield of 4.9%. Target’s payout ratio is currently 55.34%.

About Target

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.