Target Co. (NYSE:TGT) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Target Co. (NYSE:TGT) have earned a consensus rating of “Moderate Buy” from the twenty-nine research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eighteen have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $177.61.

A number of analysts have recently weighed in on the stock. DA Davidson boosted their target price on shares of Target from $167.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. The Goldman Sachs Group raised their price objective on Target from $176.00 to $194.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Telsey Advisory Group reissued an “outperform” rating and set a $195.00 target price on shares of Target in a research report on Wednesday, May 22nd. Royal Bank of Canada lowered their price target on Target from $191.00 to $181.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Finally, Guggenheim boosted their price objective on shares of Target from $160.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Ables Iannone Moore & Associates Inc. bought a new position in Target in the fourth quarter worth about $28,000. Rakuten Securities Inc. purchased a new position in shares of Target in the 4th quarter worth approximately $29,000. Private Wealth Management Group LLC bought a new position in shares of Target during the 4th quarter worth approximately $29,000. Scarborough Advisors LLC acquired a new stake in Target in the fourth quarter valued at approximately $29,000. Finally, Godsey & Gibb Inc. boosted its stake in Target by 148.6% in the first quarter. Godsey & Gibb Inc. now owns 174 shares of the retailer’s stock valued at $31,000 after acquiring an additional 104 shares in the last quarter. 79.73% of the stock is owned by institutional investors.

Target Stock Down 1.6 %

Shares of TGT stock opened at $145.74 on Thursday. The company’s fifty day simple moving average is $152.97 and its two-hundred day simple moving average is $153.33. Target has a 52 week low of $102.93 and a 52 week high of $181.86. The stock has a market cap of $67.43 billion, a P/E ratio of 16.36, a PEG ratio of 1.39 and a beta of 1.19. The company has a quick ratio of 0.27, a current ratio of 0.86 and a debt-to-equity ratio of 0.97.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, May 22nd. The retailer reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). Target had a net margin of 3.87% and a return on equity of 31.91%. The firm had revenue of $24.14 billion for the quarter, compared to the consensus estimate of $24.52 billion. During the same period in the previous year, the company posted $2.05 earnings per share. Target’s quarterly revenue was down 3.2% on a year-over-year basis. Analysts predict that Target will post 9.32 EPS for the current fiscal year.

Target Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $4.48 dividend on an annualized basis and a yield of 3.07%. This is a positive change from Target’s previous quarterly dividend of $1.10. Target’s dividend payout ratio is currently 49.38%.

Target Company Profile

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.