Research Analysts Set Expectations for Target Co.’s Q4 2023 Earnings (NYSE:TGT)

Target Co. (NYSE:TGTGet Rating) – Equities research analysts at DA Davidson issued their Q4 2023 earnings per share estimates for shares of Target in a research note issued on Thursday, November 17th. DA Davidson analyst M. Baker anticipates that the retailer will post earnings of $1.38 per share for the quarter. The consensus estimate for Target’s current full-year earnings is $8.07 per share.

Other equities research analysts have also issued research reports about the company. Cowen upped their price target on Target to $210.00 in a research report on Monday, August 22nd. Stifel Nicolaus upped their price target on Target from $185.00 to $195.00 and gave the company a “hold” rating in a research report on Thursday, August 18th. Piper Sandler upgraded Target from a “neutral” rating to an “overweight” rating and upped their price target for the company from $190.00 to $200.00 in a research report on Thursday. KeyCorp dropped their price objective on Target from $200.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Royal Bank of Canada dropped their price objective on Target from $223.00 to $206.00 and set an “outperform” rating on the stock in a research note on Thursday. Nine investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $185.07.

Target Trading Up 0.5 %

NYSE TGT opened at $162.88 on Friday. The business’s 50-day moving average price is $159.39 and its two-hundred day moving average price is $162.93. Target has a 12 month low of $137.16 and a 12 month high of $254.87. The firm has a market capitalization of $74.97 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. The company has a current ratio of 0.86, a quick ratio of 0.14 and a debt-to-equity ratio of 1.29.

Target (NYSE:TGTGet Rating) last issued its quarterly earnings data on Wednesday, November 16th. The retailer reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $2.12 by ($0.58). Target had a return on equity of 30.51% and a net margin of 3.17%. The firm had revenue of $26.12 billion for the quarter, compared to the consensus estimate of $26.40 billion. During the same quarter in the prior year, the firm earned $3.03 EPS. The company’s revenue was up 3.3% on a year-over-year basis.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Stockholders of record on Wednesday, November 16th will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Tuesday, November 15th. Target’s dividend payout ratio is presently 59.18%.

Insider Activity

In other news, insider John J. Mulligan sold 39,101 shares of the company’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $166.02, for a total value of $6,491,548.02. Following the completion of the transaction, the insider now directly owns 118,425 shares of the company’s stock, valued at $19,660,918.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Target

Institutional investors have recently modified their holdings of the business. Power Corp of Canada grew its holdings in Target by 11.6% during the third quarter. Power Corp of Canada now owns 13,372 shares of the retailer’s stock valued at $1,984,000 after purchasing an additional 1,390 shares during the period. National Pension Service grew its holdings in Target by 5.1% during the third quarter. National Pension Service now owns 763,584 shares of the retailer’s stock valued at $115,904,000 after purchasing an additional 36,777 shares during the period. CENTRAL TRUST Co grew its holdings in Target by 4.8% during the third quarter. CENTRAL TRUST Co now owns 40,996 shares of the retailer’s stock valued at $6,084,000 after purchasing an additional 1,864 shares during the period. Warther Private Wealth LLC bought a new position in Target during the third quarter valued at $1,366,000. Finally, Advisors Capital Management LLC grew its holdings in Target by 15.2% during the third quarter. Advisors Capital Management LLC now owns 209,297 shares of the retailer’s stock valued at $36,263,000 after purchasing an additional 27,693 shares during the period. 77.42% of the stock is owned by institutional investors.

Target Company Profile

(Get Rating)

Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

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Earnings History and Estimates for Target (NYSE:TGT)

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