Citigroup upgraded shares of Target (NYSE:TGT) from a neutral rating to a buy rating in a research note published on Thursday, BenzingaRatingsTable reports. The brokerage currently has $130.00 price target on the retailer’s stock, up from their previous price target of $80.00.
A number of other equities research analysts have also recently issued reports on TGT. JPMorgan Chase & Co. set a $115.00 price objective on shares of Target and gave the company a buy rating in a research note on Wednesday. Barclays reaffirmed a buy rating and issued a $95.00 price objective on shares of Target in a research note on Thursday, May 30th. Robert W. Baird set a $90.00 price objective on shares of Target and gave the company a buy rating in a research note on Monday, August 12th. Sanford C. Bernstein reaffirmed a mkt perform rating on shares of Target in a research note on Friday, May 3rd. Finally, UBS Group upped their price objective on shares of Target from $77.00 to $82.00 and gave the company a neutral rating in a research note on Thursday, May 23rd. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $102.37.
Shares of Target stock opened at $103.49 on Thursday. Target has a 52-week low of $60.15 and a 52-week high of $106.52. The stock has a market capitalization of $52.77 billion, a price-to-earnings ratio of 19.20, a price-to-earnings-growth ratio of 2.45 and a beta of 0.61. The company has a fifty day moving average of $86.87 and a 200-day moving average of $80.90. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.19 and a current ratio of 0.84.
Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 21st. The retailer reported $1.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.21. Target had a net margin of 4.10% and a return on equity of 27.43%. The company had revenue of $18.42 billion during the quarter, compared to analysts’ expectations of $18.32 billion. During the same quarter in the prior year, the company earned $1.47 EPS. The firm’s revenue was up 3.6% on a year-over-year basis. On average, equities research analysts forecast that Target will post 6.08 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be issued a dividend of $0.66 per share. This is a positive change from Target’s previous quarterly dividend of $0.64. This represents a $2.64 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Tuesday, August 20th. Target’s dividend payout ratio is currently 48.98%.
In related news, insider Stephanie A. Lundquist sold 8,367 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $88.01, for a total transaction of $736,379.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Don H. Liu sold 4,140 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $99.92, for a total transaction of $413,668.80. The disclosure for this sale can be found here. Insiders have sold a total of 28,561 shares of company stock valued at $2,576,357 over the last quarter. 0.24% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Krane Funds Advisors LLC bought a new position in Target in the 2nd quarter worth $25,000. Advisory Alpha LLC bought a new position in Target in the 1st quarter worth $30,000. Icon Wealth Partners LLC bought a new position in Target in the 1st quarter worth $31,000. Larson Financial Group LLC bought a new position in Target in the 2nd quarter worth $31,000. Finally, C J Advisory Inc bought a new position in Target in the 1st quarter worth $33,000. Institutional investors own 82.12% of the company’s stock.
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.
Receive News & Ratings for Target Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target and related companies with MarketBeat.com's FREE daily email newsletter.