Target (NYSE:TGT) Sets New 1-Year High – Here’s What Happened

Shares of Target Corporation (NYSE:TGT) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $138.35 and last traded at $138.5090, with a volume of 598723 shares traded. The stock had previously closed at $134.11.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Telsey Advisory Group boosted their target price on Target from $148.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, May 21st. Piper Sandler reiterated a “neutral” rating on shares of Target in a report on Friday, June 12th. Citigroup raised their price objective on Target from $117.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. DA Davidson boosted their price objective on Target from $140.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Target in a research report on Thursday, June 11th. Twelve equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Target currently has a consensus rating of “Hold” and an average target price of $129.00.

Target Stock Down 1.1%

The company has a debt-to-equity ratio of 0.87, a current ratio of 0.93 and a quick ratio of 0.30. The stock has a fifty day moving average price of $127.65 and a two-hundred day moving average price of $116.43. The company has a market cap of $63.43 billion, a P/E ratio of 18.45, a price-to-earnings-growth ratio of 2.76 and a beta of 1.00.

Target (NYSE:TGT) last announced its earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.24. The company had revenue of $25.44 billion for the quarter, compared to analysts’ expectations of $24.66 billion. Target had a return on equity of 22.92% and a net margin of 3.24%.Target’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.30 earnings per share. Target has set its FY 2026 guidance at 7.500-8.500 EPS. On average, research analysts expect that Target Corporation will post 8.35 EPS for the current year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 12th will be issued a dividend of $1.16 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $4.64 dividend on an annualized basis and a yield of 3.3%. This is a positive change from Target’s previous quarterly dividend of $1.14. Target’s payout ratio is presently 60.24%.

Insider Activity

In other news, insider Cara A. Sylvester sold 10,000 shares of the stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $125.89, for a total value of $1,258,900.00. Following the completion of the sale, the insider owned 45,930 shares in the company, valued at $5,782,127.70. This represents a 17.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.13% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. WFA of San Diego LLC bought a new position in shares of Target during the 2nd quarter worth approximately $25,000. Jessup Wealth Management Inc bought a new position in shares of Target in the fourth quarter valued at approximately $25,000. Altshuler Shaham Ltd purchased a new stake in shares of Target during the fourth quarter valued at approximately $26,000. Global Wealth Strategies & Associates increased its position in shares of Target by 192.0% during the fourth quarter. Global Wealth Strategies & Associates now owns 292 shares of the retailer’s stock valued at $29,000 after acquiring an additional 192 shares during the last quarter. Finally, Eagle Bay Advisors LLC bought a new stake in Target during the fourth quarter worth $30,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Company Profile

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.