Zacks Research Has Bullish Forecast for Target Q3 Earnings

Target Corporation (NYSE:TGT) – Investment analysts at Zacks Research boosted their Q3 2027 earnings per share estimates for Target in a research note issued on Tuesday, September 1st. Zacks Research analyst Team now anticipates that the retailer will earn $2.05 per share for the quarter, up from their previous estimate of $1.91. Zacks Research has a “Hold” rating on the stock. The consensus estimate for Target’s current full-year earnings is $8.84 per share. Zacks Research also issued estimates for Target’s Q4 2027 earnings at $2.70 EPS, Q1 2028 earnings at $1.84 EPS, Q2 2028 earnings at $2.63 EPS, Q3 2028 earnings at $2.20 EPS, Q4 2028 earnings at $2.86 EPS, FY2028 earnings at $9.53 EPS, Q1 2029 earnings at $1.97 EPS, Q2 2029 earnings at $2.80 EPS and FY2029 earnings at $10.18 EPS.

Several other research firms have also recently issued reports on TGT. Freedom Capital cut shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 20th. Telsey Advisory Group upped their price target on shares of Target from $170.00 to $182.00 and gave the stock an “outperform” rating in a research report on Thursday, August 20th. Wells Fargo & Company increased their price target on shares of Target from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, August 20th. TD Cowen lifted their price target on shares of Target from $155.00 to $160.00 and gave the company a “hold” rating in a report on Thursday, August 20th. Finally, Weiss Ratings upgraded Target from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. Eleven analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Target currently has a consensus rating of “Hold” and an average price target of $159.52.

Target Trading Up 1.8%

NYSE TGT opened at $163.75 on Wednesday. Target has a 12 month low of $83.44 and a 12 month high of $170.75. The company has a 50-day moving average of $145.43 and a 200-day moving average of $130.64. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.99 and a quick ratio of 0.36. The company has a market cap of $74.39 billion, a P/E ratio of 17.00, a P/E/G ratio of 3.00 and a beta of 0.99.

Target (NYSE:TGT) last released its earnings results on Wednesday, August 19th. The retailer reported $4.11 earnings per share for the quarter, topping the consensus estimate of $2.35 by $1.76. Target had a return on equity of 23.23% and a net margin of 4.08%.The firm had revenue of $26.54 billion for the quarter, compared to the consensus estimate of $26.13 billion. During the same period in the prior year, the business posted $2.05 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. Target has set its FY 2026 guidance at 9.900-10.900 EPS.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th were given a dividend of $1.16 per share. This is a positive change from Target’s previous quarterly dividend of $1.14. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $4.64 dividend on an annualized basis and a yield of 2.8%. Target’s dividend payout ratio is currently 48.18%.

Insider Buying and Selling at Target

In other Target news, CAO Matthew A. Liegel sold 926 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $163.51, for a total transaction of $151,410.26. Following the transaction, the chief accounting officer owned 12,266 shares in the company, valued at $2,005,613.66. The trade was a 7.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Melissa K. Kremer sold 15,500 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $169.96, for a total value of $2,634,380.00. Following the completion of the sale, the insider directly owned 56,981 shares of the company’s stock, valued at $9,684,490.76. The trade was a 21.38% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Target

Several hedge funds have recently modified their holdings of TGT. California State Teachers Retirement System boosted its holdings in Target by 13,417.6% in the 2nd quarter. California State Teachers Retirement System now owns 91,340,014 shares of the retailer’s stock worth $11,929,919,000 after acquiring an additional 90,664,304 shares during the period. BlackRock Inc. acquired a new stake in Target in the second quarter valued at approximately $5,054,604,000. Bank of New York Mellon Corp purchased a new stake in shares of Target during the second quarter valued at approximately $831,466,000. Norges Bank purchased a new stake in shares of Target during the fourth quarter valued at approximately $587,903,000. Finally, TOMS Capital Investment Management LP acquired a new position in shares of Target during the fourth quarter worth $257,571,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

More Target News

Here are the key news stories impacting Target this week:

• Positive Sentiment: Zacks Research raised multiple long-term earnings forecasts, including FY2028 EPS to $9.53 from $8.90 and FY2029 EPS to $10.18 from $9.52. Estimates were also increased for several quarterly periods through 2029, suggesting greater confidence in Target’s earnings recovery and supporting the bullish share-price momentum.
• Positive Sentiment: Target’s full-year outlook was recently raised, signaling management’s confidence in its turnaround strategy and helping reinforce expectations for improving profitability. 1 Reason Target Stock Is Worth a Second Look This Month
• Positive Sentiment: The retailer is expanding its beauty business nationwide with a specialty-store concept featuring about 90 brands, dedicated advisers and more than 1,600 products. The initiative could help Target drive traffic and capture higher-growth discretionary spending following the end of its Ulta partnership. Target launches specialty beauty concept at stores nationwide as Ulta partnership ends
• Positive Sentiment: Target’s improving momentum, strategic initiatives and relatively lower valuation have increased its appeal compared with other discount retailers. Costco vs. Target: Which Discount Retailer Holds More Promise Now?
• Neutral Sentiment: Target’s shares have gained significantly in 2026 and now trade near their 52-week high, raising the question of whether continued execution is needed to justify further upside toward $200. Target Stock Is Up 66% in 2026: What Will It Take to Break Through $200?
• Negative Sentiment: A recent Halloween costume controversy represents another reputational misstep that could undermine Target’s efforts to win back customers. Zacks’ continued “Hold” rating also indicates that analysts see execution risks despite the improved forecasts.

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.