Target (NYSE:TGT) Shares Gap Up to $145.65

Target Co. (NYSE:TGTGet Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $145.65, but opened at $151.86. Target shares last traded at $148.76, with a volume of 648,518 shares traded.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Citigroup raised Target from a “neutral” rating to a “buy” rating and set a $180.00 price objective for the company in a report on Tuesday, May 7th. Morgan Stanley decreased their price objective on Target from $190.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, May 23rd. BNP Paribas assumed coverage on Target in a report on Monday, June 3rd. They issued an “underperform” rating and a $116.00 price objective for the company. Deutsche Bank Aktiengesellschaft decreased their price objective on Target from $209.00 to $190.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Finally, Roth Mkm reissued a “neutral” rating and issued a $153.00 price objective on shares of Target in a report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, Target currently has an average rating of “Moderate Buy” and an average price target of $177.61.

View Our Latest Analysis on TGT

Target Stock Down 0.7 %

The company has a quick ratio of 0.27, a current ratio of 0.86 and a debt-to-equity ratio of 0.97. The business has a 50-day moving average price of $150.36 and a 200-day moving average price of $153.67. The firm has a market capitalization of $68.30 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 1.40 and a beta of 1.19.

Target (NYSE:TGTGet Free Report) last posted its quarterly earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). The company had revenue of $24.14 billion during the quarter, compared to analysts’ expectations of $24.52 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. Target’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the company earned $2.05 earnings per share. Equities research analysts forecast that Target Co. will post 9.32 earnings per share for the current fiscal year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be given a $1.12 dividend. The ex-dividend date is Wednesday, August 21st. This is a positive change from Target’s previous quarterly dividend of $1.10. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.03%. Target’s dividend payout ratio is 49.38%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. RFG Advisory LLC purchased a new position in Target in the fourth quarter worth approximately $605,000. Nordea Investment Management AB grew its position in Target by 4.9% in the fourth quarter. Nordea Investment Management AB now owns 519,634 shares of the retailer’s stock worth $73,819,000 after acquiring an additional 24,066 shares during the period. Asio Capital LLC grew its position in Target by 109.9% in the fourth quarter. Asio Capital LLC now owns 27,267 shares of the retailer’s stock worth $3,883,000 after acquiring an additional 14,274 shares during the period. Little House Capital LLC purchased a new position in Target in the first quarter worth approximately $1,041,000. Finally, Janney Capital Management LLC purchased a new position in Target in the first quarter worth approximately $13,958,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

About Target

(Get Free Report)

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.

Further Reading

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