Target Corp. (TGT) Given a $75.00 Price Target at Nomura
Target Corp. (NYSE:TGT) has been assigned a $75.00 price objective by equities research analysts at Nomura in a research report issued to clients and investors on Friday. The brokerage presently has a a “hold” rating on the retailer’s stock. Nomura’s price target would suggest a potential upside of 8.63% from the stock’s current price.
A number of other equities research analysts have also recently commented on TGT. Piper Jaffray Cos. restated an “outperform” rating and set a $86.00 target price on shares of Target Corp. in a research report on Monday, July 25th. Barclays PLC reiterated an “underweight” rating and issued a $60.00 price objective on shares of Target Corp. in a report on Friday, September 16th. Vetr upgraded Target Corp. from a “hold” rating to a “buy” rating and set a $75.70 price objective on the stock in a report on Monday, July 4th. Zacks Investment Research cut Target Corp. from a “hold” rating to a “sell” rating in a report on Friday, July 15th. Finally, Jefferies Group set a $72.00 price objective on Target Corp. and gave the stock a “hold” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $76.82.
Shares of Target Corp. (NYSE:TGT) traded up 0.92% during midday trading on Friday, reaching $69.04. The company’s stock had a trading volume of 3,863,103 shares. The stock’s 50 day moving average price is $69.40 and its 200 day moving average price is $73.53. Target Corp. has a one year low of $65.50 and a one year high of $84.14. The firm has a market cap of $39.68 billion, a price-to-earnings ratio of 12.78 and a beta of 0.68.
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Target Corp. (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 17th. The retailer reported $1.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.11. The business earned $16.20 billion during 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.22 EPS. Analysts predict that Target Corp. will post $4.95 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Wednesday, November 16th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, November 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.48%. Target Corp.’s payout ratio is currently 44.44%.
Institutional investors have recently added to or reduced their stakes in the stock. Johanson Financial Advisors Inc. increased its position in 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 in the last quarter. Jackson Grant Investment Advisers Inc. increased its position 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 in the last quarter. Loomis Sayles & Co. L P increased its position 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 in the last quarter. Patten & Patten Inc. TN increased its position 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 in the last quarter. Finally, Canandaigua National Bank & Trust Co. increased its position 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 in the last quarter. Institutional investors own 86.19% of the company’s stock.
Target Corp. Company Profile
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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