Target (NYSE:TGT) Trading Up 2.9% – Here’s Why

Target Co. (NYSE:TGT) rose 2.9% on Friday . The company traded as high as $93.54 and last traded at $93.13. Approximately 5,347,533 shares traded hands during mid-day trading, a decline of 4% from the average daily volume of 5,598,467 shares. The stock had previously closed at $90.46.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. DA Davidson reduced their price target on Target from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. UBS Group reduced their price objective on shares of Target from $170.00 to $155.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. KGI Securities set a $132.00 price target on shares of Target in a research report on Wednesday, March 5th. Guggenheim raised their target price on Target from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Finally, Roth Capital set a $122.00 target price on shares of Target in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $132.37.

Target Stock Up 2.9 %

The company’s fifty day moving average is $109.77 and its 200-day moving average is $130.28. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The company has a market capitalization of $42.43 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 1.94 and a beta of 1.28.

Target (NYSE:TGT) last issued its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. The business had revenue of $30.92 billion during the quarter, compared to analyst estimates of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. As a group, analysts predict that Target Co. will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date is Wednesday, May 14th. Target’s dividend payout ratio (DPR) is 50.56%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Kathmere Capital Management LLC grew its holdings in shares of Target by 3.0% in the fourth quarter. Kathmere Capital Management LLC now owns 2,541 shares of the retailer’s stock worth $343,000 after purchasing an additional 73 shares during the last quarter. Horrell Capital Management Inc. increased its stake in shares of Target by 0.3% during the fourth quarter. Horrell Capital Management Inc. now owns 26,657 shares of the retailer’s stock valued at $3,603,000 after buying an additional 76 shares during the period. Fiducient Advisors LLC lifted its stake in Target by 4.6% in the fourth quarter. Fiducient Advisors LLC now owns 1,778 shares of the retailer’s stock worth $240,000 after acquiring an additional 78 shares during the period. First PREMIER Bank grew its holdings in Target by 21.9% during the 4th quarter. First PREMIER Bank now owns 445 shares of the retailer’s stock worth $61,000 after acquiring an additional 80 shares in the last quarter. Finally, Winch Advisory Services LLC raised its holdings in shares of Target by 34.5% in the 4th quarter. Winch Advisory Services LLC now owns 320 shares of the retailer’s stock valued at $43,000 after purchasing an additional 82 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

About Target

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.