Nomura Analysts Give Target Corp. (TGT) a $75.00 Price Target
Target Corp. (NYSE:TGT) has been given a $75.00 target price by equities researchers at Nomura in a report released on Friday. The firm presently has a a “hold” rating on the retailer’s stock. Nomura’s price target would indicate a potential upside of 9.63% from the stock’s current price.
Other research analysts have also recently issued reports about the company. Telsey Advisory Group lowered their price target on Target Corp. from $88.00 to $82.00 and set an “outperform” rating on the stock in a report on Thursday, August 18th. Vetr raised Target Corp. from a “hold” rating to a “buy” rating and set a $79.09 price target on the stock in a report on Monday, August 1st. Zacks Investment Research cut Target Corp. from a “hold” rating to a “sell” rating in a report on Friday, July 15th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $86.00 price target on shares of Target Corp. in a report on Wednesday, August 17th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $75.00 price objective (down from $81.00) on shares of Target Corp. in a report on Wednesday, August 17th. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $76.82.
Shares of Target Corp. (NYSE:TGT) traded up 0.928% on Friday, hitting $69.045. 2,594,528 shares of the stock traded hands. The firm has a market cap of $39.69 billion, a PE ratio of 12.777 and a beta of 0.68. The firm has a 50 day moving average price of $69.40 and a 200 day moving average price of $73.53. Target Corp. has a 52-week low of $65.50 and a 52-week high of $84.14.
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Target Corp. (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 17th. The retailer reported $1.23 EPS for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.11. Target Corp. had a return on equity of 23.59% and a net margin of 4.59%. The company had revenue of $16.20 billion for the quarter. During the same period in the prior year, the firm posted $1.22 earnings per share. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. On average, equities analysts forecast that Target Corp. will post $4.95 EPS for the current 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 paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date is Monday, November 14th. Target Corp.’s dividend payout ratio (DPR) is presently 44.44%.
A number of large investors have recently added to or reduced their stakes in the stock. Ropes Wealth Advisors LLC boosted its stake in Target Corp. by 9.1% in the second quarter. Ropes Wealth Advisors LLC now owns 1,527 shares of the retailer’s stock worth $107,000 after buying an additional 127 shares during the period. Arcadia Investment Management Corp MI boosted its stake in Target Corp. by 41.7% in the second quarter. Arcadia Investment Management Corp MI now owns 1,700 shares of the retailer’s stock worth $119,000 after buying an additional 500 shares during the period. Loomis Sayles & Co. L P boosted 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 worth $154,000 after buying an additional 42 shares during the period. Acrospire Investment Management LLC acquired a new stake in Target Corp. during the first quarter worth approximately $165,000. Finally, Duncker Streett & Co. Inc. boosted its stake in Target Corp. by 4.4% in the second quarter. Duncker Streett & Co. Inc. now owns 2,370 shares of the retailer’s stock worth $165,000 after buying an additional 100 shares during the period. Institutional investors own 86.19% of the company’s stock.
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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