Target (NYSE:TGT) Reaches New 1-Year High on Analyst Upgrade

Target Corporation (NYSE:TGT)’s share price reached a new 52-week high during mid-day trading on Monday after Sanford C. Bernstein raised their price target on the stock from $124.00 to $135.00. Sanford C. Bernstein currently has a market perform rating on the stock. Target traded as high as $150.07 and last traded at $148.4060, with a volume of 463313 shares trading hands. The stock had previously closed at $144.49.

Several other analysts have also issued reports on TGT. Piper Sandler reiterated a “neutral” rating on shares of Target in a research report on Friday, June 12th. DA Davidson raised their price target on shares of Target from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Telsey Advisory Group boosted their price objective on Target from $148.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, May 21st. Guggenheim increased their target price on Target from $145.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 20th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $123.00 price target on shares of Target in a research note on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seventeen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Target presently has a consensus rating of “Hold” and a consensus price target of $133.74.

Insider Transactions at Target

In related news, insider Cara A. Sylvester sold 10,000 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $125.89, for a total transaction of $1,258,900.00. Following the completion of the sale, the insider owned 45,930 shares of the company’s stock, valued at approximately $5,782,127.70. This represents a 17.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Target

Large investors have recently made changes to their positions in the stock. Wynn Capital LLC lifted its position in Target by 0.9% during the second quarter. Wynn Capital LLC now owns 8,455 shares of the retailer’s stock worth $1,104,000 after buying an additional 79 shares in the last quarter. Whipplewood Advisors LLC grew its holdings in Target by 16.0% in the 1st quarter. Whipplewood Advisors LLC now owns 580 shares of the retailer’s stock valued at $70,000 after buying an additional 80 shares in the last quarter. Prosperity Consulting Group LLC grew its holdings in Target by 3.4% in the 1st quarter. Prosperity Consulting Group LLC now owns 2,474 shares of the retailer’s stock valued at $300,000 after buying an additional 81 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Target by 3.4% in the 2nd quarter. Versant Capital Management Inc now owns 2,478 shares of the retailer’s stock worth $324,000 after acquiring an additional 82 shares during the last quarter. Finally, Howe & Rusling Inc. raised its holdings in shares of Target by 3.1% during the 1st quarter. Howe & Rusling Inc. now owns 2,951 shares of the retailer’s stock worth $358,000 after acquiring an additional 90 shares during the period. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Stock Performance

The firm has a fifty day moving average price of $132.87 and a 200 day moving average price of $123.30. The company has a current ratio of 0.93, a quick ratio of 0.30 and a debt-to-equity ratio of 0.87. The firm has a market cap of $67.57 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 2.83 and a beta of 0.98.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, May 20th. The retailer reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.24. Target had a net margin of 3.24% and a return on equity of 22.92%. The firm had revenue of $25.44 billion during the quarter, compared to analyst estimates of $24.66 billion. During the same quarter in the prior year, the firm posted $1.30 earnings per share. Target’s quarterly revenue was up 6.7% on a year-over-year basis. Target has set its FY 2026 guidance at 7.500-8.500 EPS. As a group, equities research analysts expect that Target Corporation will post 8.32 earnings per share for the current fiscal year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 12th will be paid a $1.16 dividend. This is a positive change from Target’s previous quarterly dividend of $1.14. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $4.64 annualized dividend and a dividend yield of 3.1%. Target’s dividend payout ratio is currently 61.29%.

Target Company Profile

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.