Target Corporation (TGT) Price Target Raised to $69.00 at MKM Partners
Target Corporation (NYSE:TGT) had its target price raised by equities research analysts at MKM Partners to $69.00 in a report released on Thursday. The firm presently has a “buy” rating on the retailer’s stock. MKM Partners’ target price suggests a potential upside of 22.54% from the company’s previous close.
TGT has been the subject of a number of other reports. Vetr raised Target Corporation from a “hold” rating to a “buy” rating and set a $59.66 price objective for the company in a research report on Monday, June 19th. ValuEngine downgraded Target Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub raised Target Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Robert W. Baird reissued a “neutral” rating and set a $55.00 price objective on shares of Target Corporation in a research report on Friday, July 14th. Finally, Cowen and Company reissued a “market perform” rating and set a $64.00 price objective on shares of Target Corporation in a research report on Friday, July 14th. Five research 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 presently has a consensus rating of “Hold” and a consensus price target of $62.37.
Shares of Target Corporation (TGT) traded up 1.26% during mid-day trading on Thursday, reaching $57.02. 2,219,969 shares of the company traded hands. The firm has a 50-day moving average price of $54.46 and a 200 day moving average price of $56.22. The firm has a market capitalization of $31.46 billion, a price-to-earnings ratio of 11.68 and a beta of 0.61. Target Corporation has a 52 week low of $48.56 and a 52 week high of $79.33.
Target Corporation (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 16th. The retailer reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. The firm had revenue of $16.43 billion during the quarter, compared to the consensus estimate of $16.30 billion. Target Corporation had a return on equity of 25.17% and a net margin of 4.02%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the company earned $1.23 EPS. On average, analysts anticipate that Target Corporation will post $4.39 earnings per share for the current year.
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In related news, insider Robert M. Harrison sold 2,639 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total transaction of $137,359.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of TGT. OLD National Bancorp IN boosted its stake in shares of Target Corporation by 13.8% in the first quarter. OLD National Bancorp IN now owns 62,330 shares of the retailer’s stock worth $3,440,000 after buying an additional 7,547 shares in the last quarter. ING Groep NV boosted its stake in shares of Target Corporation by 114.3% in the first quarter. ING Groep NV now owns 7,632 shares of the retailer’s stock worth $421,000 after buying an additional 4,071 shares in the last quarter. Honeywell International Inc. boosted its stake in shares of Target Corporation by 44.8% in the first quarter. Honeywell International Inc. now owns 665,100 shares of the retailer’s stock worth $36,707,000 after buying an additional 205,700 shares in the last quarter. Cascade Investment Advisors Inc. boosted its stake in shares of Target Corporation by 23.7% in the first quarter. Cascade Investment Advisors Inc. now owns 24,445 shares of the retailer’s stock worth $1,349,000 after buying an additional 4,685 shares in the last quarter. Finally, Tufton Capital Management boosted its stake in shares of Target Corporation by 10.5% in the first quarter. Tufton Capital Management now owns 159,956 shares of the retailer’s stock worth $8,828,000 after buying an additional 15,137 shares in the last quarter. Institutional investors own 82.59% of the company’s stock.
About Target Corporation
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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