Evercore ISI Trims Target (NYSE:TGT) Target Price to $165.00

by · The Markets Daily

Target (NYSE:TGT – Free Report) had its price objective reduced by Evercore ISI from $170.00 to $165.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have an in-line rating on the retailer’s stock.

TGT has been the subject of several other research reports. Morgan Stanley restated an “overweight” rating and set a $180.00 price target on shares of Target in a research note on Wednesday, August 21st. Daiwa America upgraded shares of Target to a “strong-buy” rating in a research report on Monday, August 26th. Wells Fargo & Company raised their target price on shares of Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Piper Sandler initiated coverage on shares of Target in a research note on Wednesday, July 10th. They set a “neutral” rating and a $156.00 price target on the stock. Finally, Roth Mkm increased their price target on shares of Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.47.

View Our Latest Stock Analysis on TGT

Target Stock Up 1.4 %

Shares of NYSE:TGT opened at $150.17 on Tuesday. 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 cap of $69.47 billion, a P/E ratio of 16.85, a P/E/G ratio of 1.99 and a beta of 1.24. Target has a 1-year low of $105.23 and a 1-year high of $181.86. The firm has a fifty day moving average price of $153.07 and a 200 day moving average price of $152.23.

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

Target Dividend Announcement

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 is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.98%. Target’s dividend payout ratio (DPR) is presently 50.28%.

Insider Activity at Target

In other Target news, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the sale, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Brian C. Cornell sold 45,000 shares of the 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 transaction, the insider now directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of Target 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 completion of the sale, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at $1,114,173.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,348 shares of company stock valued at $8,290,995. Company insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TGT. Triad Wealth Partners LLC acquired a new position in Target during the second quarter worth approximately $25,000. Washington Trust Advisors Inc. increased its holdings in shares of Target by 56.1% during the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after buying an additional 64 shares during the last quarter. Slocum Gordon & Co LLP purchased a new position in shares of Target in the 2nd quarter worth $28,000. Retirement Group LLC boosted its holdings in Target by 85.0% in the first quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock valued at $35,000 after acquiring an additional 91 shares during the last quarter. Finally, Hobbs Group Advisors LLC purchased a new stake in Target during the second quarter valued at about $31,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

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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