Target’s (TGT) “Market Perform” Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reaffirmed their market perform rating on shares of Target (NYSE:TGT) in a research note published on Wednesday,Benzinga reports. The firm currently has a $110.00 price target on the retailer’s stock.

Other research analysts have also issued research reports about the company. Bank of America dropped their price objective on Target from $93.00 to $80.00 and set an “underperform” rating on the stock in a report on Thursday, November 20th. Guggenheim reaffirmed a “buy” rating and set a $115.00 price target on shares of Target in a research note on Monday, October 27th. Roth Mkm set a $88.00 price objective on shares of Target in a report on Thursday, November 20th. Piper Sandler restated a “neutral” rating and set a $85.00 target price (down from $94.00) on shares of Target in a research report on Thursday, November 20th. Finally, TD Cowen reduced their price target on shares of Target from $105.00 to $90.00 and set a “hold” rating for the company in a research report on Thursday, November 20th. Ten analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Target has a consensus rating of “Hold” and a consensus price target of $103.90.

Target Stock Up 2.6%

Shares of NYSE:TGT opened at $115.61 on Wednesday. Target has a fifty-two week low of $83.44 and a fifty-two week high of $131.70. The company has a quick ratio of 0.27, a current ratio of 0.97 and a debt-to-equity ratio of 0.99. The firm’s 50-day simple moving average is $104.00 and its 200-day simple moving average is $96.98. The company has a market cap of $52.35 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 11.52 and a beta of 1.14.

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

Target Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Wednesday, February 11th will be paid a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Wednesday, February 11th. Target’s dividend payout ratio (DPR) is 55.34%.

Hedge Funds Weigh In On Target

Several hedge funds have recently bought and sold shares of TGT. Brighton Jones LLC boosted its stake in shares of Target by 101.3% during the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock valued at $822,000 after acquiring an additional 3,059 shares during the last quarter. Woodline Partners LP lifted its holdings in Target by 39.9% in the 1st quarter. Woodline Partners LP now owns 38,712 shares of the retailer’s stock valued at $4,040,000 after purchasing an additional 11,047 shares in the last quarter. Apollon Wealth Management LLC lifted its holdings in Target by 3.4% in the 2nd quarter. Apollon Wealth Management LLC now owns 10,859 shares of the retailer’s stock valued at $1,071,000 after purchasing an additional 362 shares in the last quarter. RFG Advisory LLC boosted its stake in shares of Target by 79.7% during the 2nd quarter. RFG Advisory LLC now owns 7,784 shares of the retailer’s stock worth $768,000 after purchasing an additional 3,453 shares during the last quarter. Finally, Granite Group Advisors LLC grew its holdings in shares of Target by 145.7% during the second quarter. Granite Group Advisors LLC now owns 23,288 shares of the retailer’s stock worth $2,297,000 after buying an additional 13,811 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

About Target

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.