Target Co. (NYSE:TGT) – Analysts at KeyCorp upped their FY2020 earnings per share (EPS) estimates for shares of Target in a research report issued to clients and investors on Sunday, November 10th. KeyCorp analyst E. Yruma now expects that the retailer will post earnings per share of $6.26 for the year, up from their previous forecast of $6.24. KeyCorp currently has a “Overweight” rating and a $130.00 price target on the stock. KeyCorp also issued estimates for Target’s FY2021 earnings at $6.72 EPS.
A number of other equities analysts have also recently issued reports on TGT. Deutsche Bank upgraded Target from a “hold” rating to a “buy” rating and raised their target price for the stock from $85.00 to $99.00 in a report on Monday, August 5th. Citigroup raised Target from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $80.00 to $130.00 in a report on Thursday, August 22nd. ValuEngine lowered Target from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Bank of America boosted their target price on Target from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Finally, Guggenheim reissued a “hold” rating on shares of Target in a report on Wednesday, August 21st. Six investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Target presently has an average rating of “Buy” and an average price target of $108.15.
Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 21st. The retailer reported $1.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.21. Target had a net margin of 4.10% and a return on equity of 27.43%. The business had revenue of $18.42 billion during the quarter, compared to the consensus estimate of $18.32 billion. During the same period in the previous year, the firm posted $1.47 earnings per share. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year.
Several institutional investors have recently made changes to their positions in TGT. Krane Funds Advisors LLC bought a new stake in Target during the second quarter valued at $25,000. Delta Asset Management LLC TN lifted its stake in Target by 161.0% during the third quarter. Delta Asset Management LLC TN now owns 261 shares of the retailer’s stock worth $28,000 after purchasing an additional 161 shares during the last quarter. Larson Financial Group LLC bought a new stake in Target during the second quarter worth about $31,000. Phocas Financial Corp. bought a new stake in Target during the second quarter worth about $33,000. Finally, SRS Capital Advisors Inc. bought a new stake in Target during the second quarter worth about $37,000. Institutional investors own 82.16% of the company’s stock.
In other news, insider Cathy R. Smith sold 8,412 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $104.40, for a total value of $878,212.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Don H. Liu sold 2,000 shares of the stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $110.00, for a total value of $220,000.00. Following the completion of the sale, the insider now directly owns 39,890 shares of the company’s stock, valued at approximately $4,387,900. The disclosure for this sale can be found here. In the last three months, insiders sold 83,478 shares of company stock valued at $8,915,363. Insiders own 0.24% of the company’s stock.
Target announced that its Board of Directors has initiated a stock buyback program on Thursday, September 19th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the retailer to reacquire up to 9.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be paid a $0.66 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $2.64 annualized dividend and a dividend yield of 2.41%. Target’s payout ratio is 48.98%.
Target Company Profile
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.
Read More: Average Daily Trade Volume Explained
Receive News & Ratings for Target Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target and related companies with MarketBeat.com's FREE daily email newsletter.