Target Corp. (NYSE:TGT) was downgraded by research analysts at Vetr from a “buy” rating to a “hold” rating in a research note issued to investors on Monday. They currently have a $69.32 price target on the retailer’s stock. Vetr‘s price objective suggests a potential downside of 11.82% from the stock’s previous close.
Other equities analysts also recently issued reports about the stock. Miller Tabak started coverage on shares of Target Corp. in a research note on Friday, July 29th. They set a “buy” rating and a $87.00 price objective on the stock. Citigroup Inc. reissued a “buy” rating and set a $80.00 target price on shares of Target Corp. in a research report on Thursday, August 18th. Brean Capital reissued a “buy” rating and set a $28.00 target price on shares of Target Corp. in a research report on Saturday, October 8th. Edward Jones cut shares of Target Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 17th. Finally, Zacks Investment Research raised shares of Target Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $74.62.
Shares of Target Corp. (NYSE:TGT) traded up 0.17% during midday trading on Monday, hitting $78.61. 2,543,818 shares of the stock were exchanged. Target Corp. has a 12 month low of $65.50 and a 12 month high of $84.14. The firm’s 50-day moving average is $70.18 and its 200-day moving average is $70.66. The stock has a market cap of $44.31 billion, a price-to-earnings ratio of 13.99 and a beta of 0.59.
Target Corp. (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 16th. The retailer reported $1.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.21. Target Corp. had a net margin of 4.75% and a return on equity of 25.18%. The firm had revenue of $16.44 billion for the quarter, compared to the consensus estimate of $16.30 billion. During the same period last year, the firm earned $0.86 earnings per share. The company’s quarterly revenue was down 6.7% on a year-over-year basis. Equities research analysts predict that Target Corp. will post $5.20 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 10th. Stockholders of record on Wednesday, November 16th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Monday, November 14th. Target Corp.’s dividend payout ratio is currently 42.93%.
In other news, Director Anne M. Mulcahy sold 3,957 shares of the firm’s stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $75.45, for a total value of $298,555.65. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.25% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of TGT. First Heartland Consultants Inc. increased its position in Target Corp. by 11.7% in the third quarter. First Heartland Consultants Inc. now owns 5,028 shares of the retailer’s stock valued at $345,000 after buying an additional 525 shares in the last quarter. HighPoint Advisor Group LLC increased its position in shares of Target Corp. by 94.5% in the third quarter. HighPoint Advisor Group LLC now owns 8,350 shares of the retailer’s stock worth $636,000 after buying an additional 4,056 shares during the period. Whalerock Point Partners LLC purchased a new position in shares of Target Corp. during the third quarter worth approximately $4,044,000. Piedmont Investment Advisors LLC purchased a new position in shares of Target Corp. during the third quarter worth approximately $12,708,000. Finally, OLD Republic International Corp purchased a new position in shares of Target Corp. during the third quarter worth approximately $13,446,000. 84.37% of the stock is currently owned by hedge funds and other institutional investors.
About Target Corp.
Target Corporation offers everyday essentials and merchandise to its customers. The Company sells a range of general merchandise and food through its store and digital channels. The Company’s general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items.