Trade Report: Today, Jefferies Group Reiterates “$72.00” Price Target for Target Corp. (TGT)

Today, Jefferies Group Reiterates “$72.00” Price Target for Target Corp. (TGT)

Jefferies Group set a $72.00 price objective on Target Corp. (NYSE:TGT) in a research note released on Tuesday morning. The brokerage currently has a a hold rating on the retailer’s stock.

Several other analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Target Corp. from a sell rating to a hold rating in a report on Tuesday, July 26th. Deutsche Bank AG raised their price target on shares of Target Corp. from $78.00 to $79.00 and gave the stock a hold rating in a report on Monday, August 15th. MKM Partners restated a neutral rating and set a $78.00 price target (up from $73.00) on shares of Target Corp. in a report on Tuesday, August 16th. Edward Jones cut shares of Target Corp. from a buy rating to a hold rating in a report on Wednesday, August 17th. Finally, Cowen and Company restated an outperform rating and set a $75.00 price target (down from $81.00) on shares of Target Corp. in a report on Wednesday, August 17th. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $76.82.

Shares of Target Corp. (NYSE:TGT) opened at 68.41 on Tuesday. The firm has a market capitalization of $39.32 billion, a price-to-earnings ratio of 12.66 and a beta of 0.68. The company’s 50-day moving average is $69.40 and its 200-day moving average is $73.53. Target Corp. has a 12-month low of $65.50 and a 12-month high of $84.14.

Target Corp. (NYSE:TGT) last released its earnings results on Wednesday, August 17th. The retailer reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.11. The business had revenue of $16.20 billion for the quarter. Target Corp. had a net margin of 4.59% and a return on equity of 23.59%. The business’s revenue was down 7.2% on a year-over-year basis. During the same period last year, the business earned $1.22 earnings per share. On average, equities analysts forecast that Target Corp. will post $4.95 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders of record on Wednesday, November 16th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend is Monday, November 14th. Target Corp.’s dividend payout ratio (DPR) is presently 44.44%.

A number of large investors have recently made changes to their positions in the stock. Johanson Financial Advisors Inc. raised its stake in shares of Target Corp. by 0.4% in the second quarter. Johanson Financial Advisors Inc. now owns 4,733 shares of the retailer’s stock valued at $329,000 after buying an additional 17 shares during the period. Jackson Grant Investment Advisers Inc. raised its stake in Target Corp. by 0.8% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 2,985 shares of the retailer’s stock valued at $208,000 after buying an additional 24 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in Target Corp. by 1.9% in the second quarter. Loomis Sayles & Co. L P now owns 2,201 shares of the retailer’s stock valued at $154,000 after buying an additional 42 shares during the last quarter. Patten & Patten Inc. TN raised its stake in Target Corp. by 1.2% in the second quarter. Patten & Patten Inc. TN now owns 3,518 shares of the retailer’s stock valued at $246,000 after buying an additional 43 shares during the last quarter. Finally, Canandaigua National Bank & Trust Co. raised its stake in Target Corp. by 1.3% in the first quarter. Canandaigua National Bank & Trust Co. now owns 3,841 shares of the retailer’s stock valued at $316,000 after buying an additional 50 shares during the last quarter. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

About Target Corp.

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