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

Target Co. (NYSE:TGT) has earned an average recommendation of “Moderate Buy” from the twenty-eight brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and seventeen have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $176.57.

A number of equities analysts recently commented on TGT shares. Deutsche Bank Aktiengesellschaft dropped their price objective on Target from $209.00 to $190.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Citigroup upgraded shares of Target from a “neutral” rating to a “buy” rating and set a $180.00 price target on the stock in a report on Tuesday, May 7th. Jefferies Financial Group upped their price objective on shares of Target from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Gordon Haskett raised their target price on Target from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Finally, Morgan Stanley decreased their price target on Target from $190.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd.

Target Trading Up 1.9 %

Shares of NYSE:TGT opened at $149.00 on Monday. The firm has a fifty day moving average of $147.98 and a two-hundred day moving average of $154.33. 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 has a 12-month low of $102.93 and a 12-month high of $181.86. The firm has a market capitalization of $68.93 billion, a P/E ratio of 16.72, a price-to-earnings-growth ratio of 1.38 and a beta of 1.19.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, May 22nd. The retailer reported $2.03 earnings per share (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 analyst estimates of $24.52 billion. During the same period in the previous year, the business posted $2.05 EPS. Target’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, equities analysts expect that Target will post 9.31 EPS for the current fiscal year.

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.01%. This is a positive change from Target’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Wednesday, August 21st. Target’s dividend payout ratio is presently 50.28%.

Hedge Funds Weigh In On Target

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Washington Trust Advisors Inc. lifted its stake in Target by 56.1% during the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after purchasing an additional 64 shares during the period. Williams Jones Wealth Management LLC. lifted its position in shares of Target by 0.6% during the 1st quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock worth $1,909,000 after buying an additional 68 shares during the period. Beacon Capital Management LLC boosted its stake in Target by 20.8% in the 2nd quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock valued at $59,000 after buying an additional 69 shares in the last quarter. Larson Financial Group LLC grew its position in Target by 1.3% in the fourth quarter. Larson Financial Group LLC now owns 5,339 shares of the retailer’s stock valued at $760,000 after acquiring an additional 70 shares during the period. Finally, Godshalk Welsh Capital Management Inc. raised its stake in Target by 0.9% during the fourth quarter. Godshalk Welsh Capital Management Inc. now owns 8,130 shares of the retailer’s stock worth $1,158,000 after acquiring an additional 70 shares in the last quarter. 79.73% of the stock is owned by institutional investors.

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.