Target (NYSE:TGT) Price Target Raised to $190.00

Target (NYSE:TGTFree Report) had its price objective hoisted by Morgan Stanley from $165.00 to $190.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the retailer’s stock.

Several other brokerages have also recently weighed in on TGT. Royal Bank of Canada lowered their price target on shares of Target from $161.00 to $157.00 and set an outperform rating on the stock in a research report on Thursday, November 16th. The Goldman Sachs Group boosted their price target on shares of Target from $176.00 to $194.00 and gave the company a buy rating in a research report on Wednesday. Wells Fargo & Company upped their target price on shares of Target from $165.00 to $190.00 and gave the company an overweight rating in a research report on Wednesday. Oppenheimer upped their target price on shares of Target from $160.00 to $170.00 and gave the company an outperform rating in a research report on Monday, February 26th. Finally, Guggenheim upped their target price on shares of Target from $160.00 to $190.00 and gave the company a buy rating in a research report on Wednesday. Eleven equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $178.38.

Read Our Latest Analysis on TGT

Target Price Performance

Target stock opened at $169.72 on Wednesday. Target has a 52-week low of $102.93 and a 52-week high of $175.53. The firm has a market capitalization of $78.35 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 1.36 and a beta of 1.13. The company has a fifty day simple moving average of $146.80 and a 200-day simple moving average of $130.58. The company has a quick ratio of 0.18, a current ratio of 0.91 and a debt-to-equity ratio of 1.11.

Target (NYSE:TGTGet Free Report) last announced its quarterly earnings results on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.57. The firm had revenue of $31.47 billion for the quarter, compared to analysts’ expectations of $31.83 billion. Target had a net margin of 3.87% and a return on equity of 33.41%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.89 EPS. On average, equities analysts anticipate that Target will post 9.2 EPS for the current fiscal year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 10th. Investors of record on Wednesday, February 21st will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.59%. Target’s payout ratio is 49.27%.

Institutional Trading of Target

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Target by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 44,943,336 shares of the retailer’s stock valued at $6,400,830,000 after purchasing an additional 415,630 shares during the last quarter. State Street Corp increased its stake in Target by 4.6% in the first quarter. State Street Corp now owns 34,570,634 shares of the retailer’s stock valued at $5,725,904,000 after purchasing an additional 1,529,881 shares during the last quarter. Moneta Group Investment Advisors LLC increased its stake in Target by 95,980.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 18,537,742 shares of the retailer’s stock valued at $2,762,865,000 after purchasing an additional 18,518,448 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Target by 9.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,163,864 shares of the retailer’s stock valued at $1,447,538,000 after purchasing an additional 868,274 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in Target by 1.5% in the fourth quarter. Franklin Resources Inc. now owns 9,531,846 shares of the retailer’s stock valued at $1,357,525,000 after purchasing an additional 137,180 shares during the last quarter. 78.33% of the stock is currently owned by hedge funds and other institutional investors.

About Target

(Get Free Report)

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.

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