Vetr Inc. Upgrades Target Corp. (TGT) to “Hold”
Target Corp. (NYSE:TGT) was upgraded by stock analysts at Vetr from a “sell” rating to a “hold” rating in a research note issued on Tuesday. The firm currently has a $68.37 price objective on the retailer’s stock. Vetr‘s price objective points to a potential downside of 0.97% from the company’s current price.
Several other research analysts have also issued reports on TGT. BMO Capital Markets restated a “market perform” rating and issued a $76.00 price target on shares of Target Corp. in a research report on Wednesday, July 6th. Argus restated a “hold” rating on shares of Target Corp. in a research report on Thursday, July 7th. Piper Jaffray Cos. restated an “overweight” rating and issued a $86.00 price target on shares of Target Corp. in a research report on Thursday, July 7th. Zacks Investment Research lowered Target Corp. from a “hold” rating to a “sell” rating in a research report on Friday, July 15th. Finally, Miller Tabak initiated coverage on Target Corp. in a research report on Friday, July 29th. They issued a “buy” rating and a $87.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and nine have given a buy rating to the company’s stock. Target Corp. presently has a consensus rating of “Hold” and a consensus target price of $74.49.
Shares of Target Corp. (NYSE:TGT) traded up 0.92% on Tuesday, reaching $69.04. The company had a trading volume of 3,863,103 shares. The firm has a market capitalization of $39.68 billion, a PE ratio of 12.78 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 is $69.36 and its 200 day moving average is $73.44.
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Target Corp. (NYSE:TGT) last posted its quarterly earnings results 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 business had revenue of $16.20 billion for the quarter. During the same quarter in the prior year, the business earned $1.22 earnings per share. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. Equities analysts forecast that Target Corp. will post $4.95 earnings per share for the current year.
The business also recently declared 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 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Monday, November 14th. Target Corp.’s dividend payout ratio (DPR) is currently 44.44%.
Several large investors have recently modified their holdings of TGT. Edgar Lomax Co. VA boosted its stake in Target Corp. by 501.1% in the first quarter. Edgar Lomax Co. VA now owns 715,210 shares of the retailer’s stock valued at $58,847,000 after buying an additional 596,230 shares during the last quarter. Meritage Portfolio Management boosted its stake in Target Corp. by 37.2% in the second quarter. Meritage Portfolio Management now owns 190,926 shares of the retailer’s stock valued at $13,330,000 after buying an additional 51,785 shares during the last quarter. First Republic Investment Management Inc. boosted its stake in Target Corp. by 6.9% in the first quarter. First Republic Investment Management Inc. now owns 642,667 shares of the retailer’s stock valued at $52,877,000 after buying an additional 41,235 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Target Corp. by 6.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,158,318 shares of the retailer’s stock valued at $80,872,000 after buying an additional 69,809 shares during the last quarter. Finally, Strs Ohio boosted its stake in Target Corp. by 4.8% in the second quarter. Strs Ohio now owns 522,392 shares of the retailer’s stock valued at $36,473,000 after buying an additional 24,086 shares during the last quarter. Institutional investors and hedge funds 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.
To view Vetr’s full report, visit Vetr’s official website.
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