Target (NYSE:TGT) Rating Reiterated by Telsey Advisory Group

by · The Markets Daily

Telsey Advisory Group restated their outperform rating on shares of Target (NYSE:TGT – Free Report) in a research report report published on Thursday, Benzinga reports. Telsey Advisory Group currently has a $195.00 price target on the retailer’s stock.

Other analysts have also recently issued reports about the company. Roth Mkm lifted their price objective on Target from $153.00 to $157.00 and gave the company a neutral rating in a research report on Thursday, August 22nd. BMO Capital Markets cut their price objective on Target from $170.00 to $155.00 and set a market perform rating on the stock in a research report on Thursday, May 23rd. Stifel Nicolaus lifted their price objective on Target from $147.00 to $165.00 and gave the company a hold rating in a research report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft cut their price objective on Target from $209.00 to $190.00 and set a buy rating on the stock in a research report on Thursday, May 23rd. Finally, Piper Sandler initiated coverage on Target in a research report on Wednesday, July 10th. They set a neutral rating and a $156.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Target has a consensus rating of Moderate Buy and a consensus target price of $179.68.

Check Out Our Latest Research Report on TGT

Target Stock Down 1.1 %

NYSE TGT opened at $154.75 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. The stock has a market capitalization of $71.59 billion, a PE ratio of 17.37, a PEG ratio of 1.90 and a beta of 1.24. Target has a 1 year low of $102.93 and a 1 year high of $181.86. The business’s 50-day moving average is $148.48 and its 200 day moving average is $154.85.

Target (NYSE:TGT – Get Free Report) last posted its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.39. The company had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. Target’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the firm earned $1.80 earnings per share. Sell-side analysts forecast that Target will post 9.53 earnings per share for the current year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a dividend yield of 2.89%. Target’s payout ratio is 50.28%.

Insider Activity

In other news, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the transaction, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the transaction, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Little House Capital LLC purchased a new position in Target in the first quarter worth about $1,041,000. Nordea Investment Management AB grew its position in Target by 23.6% in the first quarter. Nordea Investment Management AB now owns 642,340 shares of the retailer’s stock worth $112,686,000 after acquiring an additional 122,706 shares in the last quarter. QRG Capital Management Inc. lifted its stake in Target by 11.4% in the first quarter. QRG Capital Management Inc. now owns 65,558 shares of the retailer’s stock worth $11,618,000 after purchasing an additional 6,690 shares during the last quarter. Janney Capital Management LLC bought a new stake in Target in the first quarter worth about $13,958,000. Finally, United Services Automobile Association lifted its stake in Target by 134.6% in the fourth quarter. United Services Automobile Association now owns 103,785 shares of the retailer’s stock worth $14,781,000 after purchasing an additional 59,553 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Company Profile

(Get Free Report)

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.

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