Target Corporation (NYSE:TGT) Given Average Recommendation of “Hold” by Brokerages

Shares of Target Corporation (NYSE:TGT) have received an average recommendation of “Hold” from the thirty-six brokerages that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a sell recommendation, twenty have given a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $102.7931.

A number of brokerages have commented on TGT. Bank of America reduced their price objective on Target from $93.00 to $80.00 and set an “underperform” rating for the company in a research note on Thursday, November 20th. Sanford C. Bernstein cut their target price on Target from $87.00 to $80.00 and set an “underperform” rating on the stock in a report on Thursday, November 20th. BTIG Research began coverage on shares of Target in a research note on Tuesday, October 14th. They set a “neutral” rating for the company. Evercore ISI restated a “positive” rating and set a $100.00 price objective on shares of Target in a report on Thursday, November 20th. Finally, Cowen reiterated a “hold” rating on shares of Target in a report on Monday, November 10th.

Institutional Trading of Target

Several institutional investors and hedge funds have recently modified their holdings of TGT. JNBA Financial Advisors grew its holdings in Target by 3.0% during the second quarter. JNBA Financial Advisors now owns 3,347 shares of the retailer’s stock worth $330,000 after buying an additional 96 shares in the last quarter. Pin Oak Investment Advisors Inc. lifted its stake in Target by 32.3% during the 2nd quarter. Pin Oak Investment Advisors Inc. now owns 401 shares of the retailer’s stock valued at $41,000 after acquiring an additional 98 shares in the last quarter. OMERS ADMINISTRATION Corp boosted its holdings in Target by 0.6% during the 2nd quarter. OMERS ADMINISTRATION Corp now owns 17,618 shares of the retailer’s stock worth $1,738,000 after acquiring an additional 100 shares during the last quarter. Raleigh Capital Management Inc. grew its stake in shares of Target by 63.4% in the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock worth $26,000 after acquiring an additional 102 shares in the last quarter. Finally, Binnacle Investments Inc raised its holdings in shares of Target by 11.4% in the second quarter. Binnacle Investments Inc now owns 1,013 shares of the retailer’s stock valued at $100,000 after purchasing an additional 104 shares during the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Price Performance

Shares of NYSE TGT opened at $90.98 on Thursday. The firm’s 50-day moving average price is $90.28 and its 200-day moving average price is $95.44. Target has a 1-year low of $83.44 and a 1-year high of $145.08. The firm has a market capitalization of $41.20 billion, a P/E ratio of 11.04, a P/E/G ratio of 9.94 and a beta of 1.13. The company has a current ratio of 0.97, a quick ratio of 0.27 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last issued its earnings results on Wednesday, November 19th. The retailer reported $1.78 EPS for the quarter, beating the consensus estimate of $1.71 by $0.07. Target had a return on equity of 22.74% and a net margin of 3.58%.The company had revenue of $25.27 billion during the quarter, compared to the consensus estimate of $25.44 billion. During the same period last year, the business posted $1.85 EPS. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-8.000 EPS. Equities research analysts anticipate that Target will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th were paid a dividend of $1.14 per share. This is an increase from Target’s previous quarterly dividend of $1.12. The ex-dividend date was Wednesday, November 12th. This represents a $4.56 dividend on an annualized basis and a yield of 5.0%. Target’s dividend payout ratio (DPR) is presently 55.34%.

Target Company Profile

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.