Target (NYSE:TGT) Hits New 52-Week High – Should You Buy?

Target Corporation (NYSE:TGT) shares reached a new 52-week high on Tuesday . The stock traded as high as $170.75 and last traded at $169.9640, with a volume of 6409823 shares traded. The stock had previously closed at $165.44.

Analyst Ratings Changes

TGT has been the topic of a number of research reports. Wolfe Research set a $169.00 target price on Target in a report on Monday, August 3rd. Jefferies Financial Group upped their price objective on shares of Target from $161.00 to $177.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Mizuho set a $150.00 target price on Target in a research report on Thursday, August 20th. Citigroup upped their price objective on Target from $148.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, August 20th. Finally, Barclays raised their target price on shares of Target from $115.00 to $140.00 and gave the company an “underweight” rating in a report on Wednesday, August 19th. Eleven research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Target currently has a consensus rating of “Hold” and an average price target of $159.52.

Target Trading Up 0.2%

The firm has a market capitalization of $74.42 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 3.03 and a beta of 0.97. The business’s 50 day moving average price is $142.87 and its 200-day moving average price is $129.27. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.99 and a quick ratio of 0.36.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 19th. The retailer reported $4.11 earnings per share for the quarter, beating the consensus estimate of $2.35 by $1.76. The firm had revenue of $26.54 billion during the quarter, compared to the consensus estimate of $26.13 billion. Target had a return on equity of 23.23% and a net margin of 4.08%.Target’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the business posted $2.05 EPS. Target has set its FY 2026 guidance at 9.900-10.900 EPS. Equities analysts forecast that Target Corporation will post 8.88 EPS for the current fiscal year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 12th will be issued a $1.16 dividend. This is a boost from Target’s previous quarterly dividend of $1.14. The ex-dividend date is Wednesday, August 12th. This represents a $4.64 annualized dividend and a yield of 2.8%. Target’s payout ratio is presently 48.18%.

Insider Activity at Target

In other news, insider Cara A. Sylvester sold 10,000 shares of the stock in a transaction on 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 of the company’s stock, valued at $5,782,127.70. This represents a 17.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Melissa K. Kremer sold 15,500 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $169.96, for a total value of $2,634,380.00. Following the completion of the sale, the insider owned 56,981 shares of the company’s stock, valued at approximately $9,684,490.76. This represents a 21.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 26,426 shares of company stock worth $4,044,690. 0.13% of the stock is owned by company insiders.

Institutional Investors Weigh In On Target

Several hedge funds and other institutional investors have recently bought and sold shares of TGT. WFA of San Diego LLC bought a new position in Target during the second quarter worth $25,000. Jessup Wealth Management Inc acquired a new stake in shares of Target during the fourth quarter worth $25,000. Richardson Financial Services Inc. bought a new position in shares of Target in the 2nd quarter worth about $26,000. Kimelman & Baird LLC acquired a new position in shares of Target in the 2nd quarter valued at about $26,000. Finally, Altshuler Shaham Ltd acquired a new position in shares of Target in the 4th quarter valued at about $26,000. 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.