Target (NYSE:TGT) Reaches New 52-Week High – Time to Buy?

Target Corporation (NYSE:TGT)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $138.35 and last traded at $138.5090, with a volume of 598723 shares traded. The stock had previously closed at $134.11.

Analyst Upgrades and Downgrades

TGT has been the topic of a number of recent research reports. KeyCorp restated a “sector weight” rating on shares of Target in a research note on Thursday, May 21st. BMO Capital Markets lifted their price target on Target from $105.00 to $130.00 and gave the company a “market perform” rating in a report on Wednesday, March 4th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $123.00 price target on shares of Target in a research note on Friday, May 15th. UBS Group increased their price objective on Target from $130.00 to $144.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Finally, DA Davidson raised their price objective on shares of Target from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Twelve equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $129.00.

Target Stock Up 3.5%

The business has a 50-day simple moving average of $126.79 and a two-hundred day simple moving average of $115.74. The company has a market cap of $63.02 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 2.53 and a beta of 1.00. The company has a quick ratio of 0.30, a current ratio of 0.93 and a debt-to-equity ratio of 0.87.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.24. Target had a return on equity of 22.92% and a net margin of 3.24%.The business had revenue of $25.44 billion for the quarter, compared to analyst estimates of $24.66 billion. During the same quarter in the prior year, the firm posted $1.30 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. Target has set its FY 2026 guidance at 7.500-8.500 EPS. As a group, equities analysts forecast that Target Corporation will post 8.35 earnings per share for the current fiscal year.

Target Increases Dividend

The business 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 dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 3.3%. This is a boost from Target’s previous quarterly dividend of $1.14. The ex-dividend date is Wednesday, August 12th. Target’s dividend payout ratio is 61.29%.

Insider Buying and Selling

In other news, insider Cara A. Sylvester sold 10,000 shares of Target stock in a transaction that occurred 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 transaction, the insider owned 45,930 shares of the company’s stock, valued at $5,782,127.70. This trade represents a 17.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by company insiders.

Institutional Trading of Target

Several large investors have recently modified their holdings of the company. Norges Bank bought a new position in Target in the 4th quarter worth $587,903,000. TOMS Capital Investment Management LP bought a new stake in Target during the fourth quarter valued at about $257,571,000. AQR Capital Management LLC grew its position in shares of Target by 243.8% in the fourth quarter. AQR Capital Management LLC now owns 2,870,210 shares of the retailer’s stock valued at $280,563,000 after purchasing an additional 2,035,298 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Target by 6,639.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,912,963 shares of the retailer’s stock valued at $186,992,000 after purchasing an additional 1,884,577 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Target by 104.7% in the fourth quarter. Marshall Wace LLP now owns 65,505 shares of the retailer’s stock worth $6,403,000 after purchasing an additional 1,448,146 shares during the period. 79.73% of the stock is owned by institutional investors.

About Target

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.