The Target Corp. (TGT) Upgraded to Hold by Vetr Inc.

The Target Corp. (TGT) Upgraded to Hold by Vetr Inc.

Vetr upgraded shares of Target Corp. (NYSE:TGT) from a sell rating to a hold rating in a research report released on Tuesday. The firm currently has $68.37 price objective on the retailer’s stock.

Several other research firms have also recently commented on TGT. Jefferies Group restated a hold rating and set a $72.00 target price on shares of Target Corp. in a research report on Thursday, August 18th. Argus reaffirmed a hold rating on shares of Target Corp. in a research report on Thursday, July 7th. Nomura set a $75.00 price target on Target Corp. and gave the company a hold rating in a research report on Thursday, August 11th. Edward Jones lowered Target Corp. from a buy rating to a hold rating in a research report on Wednesday, August 17th. Finally, Morgan Stanley set a $64.00 price target on Target Corp. and gave the company a sell rating in a research report on Friday, August 19th. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $76.82.

Shares of Target Corp. (NYSE:TGT) opened at 68.65 on Tuesday. The company has a market capitalization of $39.46 billion, a P/E ratio of 12.70 and a beta of 0.68. Target Corp. has a 12 month low of $65.50 and a 12 month high of $84.14. The company’s 50 day moving average price is $69.69 and its 200 day moving average price is $73.61.

Target Corp. (NYSE:TGT) last issued its earnings results on Wednesday, August 17th. The retailer reported $1.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.11. The firm had revenue of $16.20 billion for the quarter. Target Corp. had a return on equity of 23.59% and a net margin of 4.59%. The business’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.22 earnings per share. Analysts expect that Target Corp. will post $4.95 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Wednesday, November 16th will be issued a $0.60 dividend. The ex-dividend date is Monday, November 14th. This represents a $2.40 dividend on an annualized basis and a yield of 3.50%. Target Corp.’s dividend payout ratio is currently 44.44%.

A number of institutional investors have recently made changes to their positions in TGT. Bank of Montreal Can bought a new position in shares of Target Corp. during the second quarter worth approximately $133,059,000. Massachusetts Financial Services Co. MA boosted its position in shares of Target Corp. by 13.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 13,035,746 shares of the retailer’s stock worth $910,156,000 after buying an additional 1,545,167 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Target Corp. by 420.3% in the first quarter. Renaissance Technologies LLC now owns 1,837,200 shares of the retailer’s stock worth $151,165,000 after buying an additional 1,484,100 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in shares of Target Corp. during the second quarter worth approximately $95,095,000. Finally, Dodge & Cox boosted its position in shares of Target Corp. by 12.9% in the second quarter. Dodge & Cox now owns 11,757,005 shares of the retailer’s stock worth $820,874,000 after buying an additional 1,341,678 shares in the last quarter. 86.19% of the stock is currently owned by 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.

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