Target Corp. (TGT) Lowered to Sell at Vetr Inc.
Target Corp. (NYSE:TGT) was downgraded by equities research analysts at Vetr from a “buy” rating to a “sell” rating in a research report issued on Monday. They currently have a $66.50 price objective on the retailer’s stock. Vetr‘s target price would suggest a potential downside of 3.68% from the company’s current price.
Other equities analysts have also recently issued reports about the company. Telsey Advisory Group reduced their price objective on Target Corp. from $88.00 to $82.00 and set an “outperform” rating on the stock in a research note on Thursday, August 18th. Piper Jaffray Cos. restated an “overweight” rating and set a $86.00 price objective on shares of Target Corp. in a research note on Wednesday, August 17th. Zacks Investment Research cut Target Corp. from a “hold” rating to a “sell” rating in a research note on Friday, July 15th. Cowen and Company reiterated an “outperform” rating and issued a $75.00 target price (down from $81.00) on shares of Target Corp. in a research note on Wednesday, August 17th. Finally, Nomura set a $75.00 target price on Target Corp. and gave the company a “hold” rating in a research note on Thursday, August 18th. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $74.49.
Target Corp. (NYSE:TGT) traded up 0.92% during trading on Monday, hitting $69.04. 3,863,103 shares of the stock were exchanged. The company has a market cap of $39.68 billion, a price-to-earnings ratio of 12.78 and a beta of 0.68. The stock’s 50 day moving average is $69.36 and its 200-day moving average is $73.44. Target Corp. has a one year low of $65.50 and a one year high of $84.14.
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Target Corp. (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 17th. The retailer reported $1.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $16.20 billion for the quarter. During the same quarter last year, the business earned $1.22 earnings per share. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. On average, equities research analysts expect that Target Corp. will post $4.95 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, December 10th. Investors 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 dividend yield of 3.48%. The ex-dividend date of this dividend is Monday, November 14th. Target Corp.’s payout ratio is 44.44%.
Several hedge funds and other institutional investors have recently modified their holdings of TGT. Ropes Wealth Advisors LLC increased its position in shares of 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 last quarter. Arcadia Investment Management Corp MI increased its position in shares of 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 last quarter. Acrospire Investment Management LLC bought a new position in shares of Target Corp. during the first quarter worth $165,000. Loomis Sayles & Co. L P increased its position in shares of Target Corp. by 58.5% in the first quarter. Loomis Sayles & Co. L P now owns 2,159 shares of the retailer’s stock worth $178,000 after buying an additional 797 shares during the last quarter. Finally, Duncker Streett & Co. Inc. increased its position in shares of 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 last quarter. 86.19% of the stock is currently owned by institutional investors and hedge funds.
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.
To view Vetr’s full report, visit Vetr’s official website.
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