Target’s (TGT) Outperform Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reaffirmed their outperform rating on shares of Target (NYSE:TGT) in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a $195.00 target price on the retailer’s stock.

A number of other brokerages have also recently weighed in on TGT. Wells Fargo & Company lifted their price target on shares of Target from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Melius Research initiated coverage on shares of Target in a research report on Monday, September 23rd. They set a “buy” rating and a $180.00 price target for the company. Oppenheimer reduced their price objective on Target from $200.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. StockNews.com lowered Target from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Finally, Truist Financial boosted their price target on Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $179.47.

Target Trading Down 0.4 %

NYSE TGT opened at $154.99 on Wednesday. The company has a 50-day moving average of $152.46 and a 200-day moving average of $150.49. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. Target has a 12 month low of $108.08 and a 12 month high of $181.86. The company has a market cap of $71.40 billion, a P/E ratio of 16.01, a P/E/G ratio of 2.01 and a beta of 1.24.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The business had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. During the same period in the prior year, the firm posted $1.80 EPS. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, equities analysts predict that Target will post 9.54 earnings per share for the current year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 2.89%. The ex-dividend date is Wednesday, November 20th. Target’s payout ratio is 46.28%.

Insider Activity at Target

In other Target news, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $157.17, for a total value of $997,715.16. Following the transaction, the insider now owns 123,551 shares in the company, valued at approximately $19,418,510.67. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Target news, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $157.17, for a total value of $997,715.16. Following the completion of the sale, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the transaction, the chief accounting officer now owns 7,276 shares in the company, valued at approximately $1,114,173.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,348 shares of company stock valued at $8,290,995. Company insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Target

A number of large investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its stake in Target by 9,940.6% in the 3rd quarter. International Assets Investment Management LLC now owns 2,001,391 shares of the retailer’s stock valued at $311,937,000 after buying an additional 1,981,458 shares during the last quarter. Boston Partners bought a new position in Target in the 1st quarter worth approximately $335,870,000. FMR LLC boosted its position in shares of Target by 11.7% in the third quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock valued at $1,555,542,000 after acquiring an additional 1,046,044 shares during the period. AQR Capital Management LLC grew its stake in shares of Target by 711.2% in the second quarter. AQR Capital Management LLC now owns 876,531 shares of the retailer’s stock worth $129,762,000 after acquiring an additional 768,479 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in Target during the third quarter worth $106,493,000. Institutional investors own 79.73% of the company’s stock.

Target Company Profile

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.