Target (NYSE:TGT) Given New $180.00 Price Target at Evercore ISI

Target (NYSE:TGT) had its price target reduced by Evercore ISI from $183.00 to $180.00 in a research report released on Tuesday, Benzinga reports. They currently have an in-line rating on the retailer’s stock.

TGT has been the subject of several other research reports. Morgan Stanley lifted their price target on shares of Target from $165.00 to $190.00 and gave the company an overweight rating in a research note on Wednesday, March 6th. Roth Mkm lifted their price objective on shares of Target from $140.00 to $153.00 and gave the company a neutral rating in a report on Wednesday, March 6th. Royal Bank of Canada upped their target price on Target from $157.00 to $191.00 and gave the stock an outperform rating in a report on Wednesday, March 6th. The Goldman Sachs Group increased their target price on Target from $176.00 to $194.00 and gave the company a buy rating in a research report on Wednesday, March 6th. Finally, Truist Financial boosted their price target on Target from $142.00 to $160.00 and gave the stock a hold rating in a research report on Wednesday, March 6th. Eleven investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $181.85.

Target Price Performance

Target stock opened at $163.31 on Tuesday. The firm has a market capitalization of $75.40 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 1.56 and a beta of 1.14. Target has a 12-month low of $102.93 and a 12-month high of $181.86. The firm has a 50-day moving average price of $162.51 and a 200-day moving average price of $140.17. The company has a current ratio of 0.91, a quick ratio of 0.29 and a debt-to-equity ratio of 1.11.

Target (NYSE:TGT) last issued its quarterly earnings results on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.57. The firm had revenue of $31.47 billion for the quarter, compared to the consensus estimate of $31.83 billion. Target had a return on equity of 33.41% and a net margin of 3.85%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.89 earnings per share. As a group, equities research analysts forecast that Target will post 9.39 EPS for the current year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.69%. Target’s payout ratio is 49.27%.

Insider Activity at Target

In other Target news, insider Christina Hennington sold 4,600 shares of Target stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $170.88, for a total value of $786,048.00. Following the completion of the transaction, the insider now owns 38,487 shares of the company’s stock, valued at $6,576,658.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Christina Hennington sold 4,600 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $170.88, for a total transaction of $786,048.00. Following the transaction, the insider now owns 38,487 shares in the company, valued at approximately $6,576,658.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the completion of the sale, the insider now directly owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The disclosure for this sale can be found here. Insiders sold a total of 52,600 shares of company stock worth $8,819,598 in the last three months. Company insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Target by 3,577.5% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,471 shares of the retailer’s stock worth $312,000 after acquiring an additional 1,431 shares during the last quarter. Zions Bancorporation N.A. increased its position in Target by 3.3% during the first quarter. Zions Bancorporation N.A. now owns 3,045 shares of the retailer’s stock worth $646,000 after purchasing an additional 96 shares during the last quarter. Covestor Ltd raised its stake in Target by 131.7% during the first quarter. Covestor Ltd now owns 702 shares of the retailer’s stock worth $149,000 after purchasing an additional 399 shares during the period. Merit Financial Group LLC acquired a new position in Target in the 1st quarter valued at about $208,000. Finally, Ergoteles LLC grew its stake in shares of Target by 191.5% in the 1st quarter. Ergoteles LLC now owns 11,794 shares of the retailer’s stock valued at $2,503,000 after buying an additional 7,748 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

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.