Target (NYSE:TGT) Price Target Raised to $90.00

Target (NYSE:TGT) had its price objective upped by Truist Financial from $82.00 to $90.00 in a report issued on Thursday morning,Benzinga reports. They currently have a hold rating on the retailer’s stock.

TGT has been the subject of several other research reports. DA Davidson cut their price target on Target from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Mizuho initiated coverage on shares of Target in a research note on Friday, April 11th. They issued a “neutral” rating and a $92.00 target price for the company. Wall Street Zen downgraded shares of Target from a “buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Telsey Advisory Group set a $110.00 target price on shares of Target and gave the company a “market perform” rating in a research note on Thursday. Finally, Stifel Nicolaus cut their target price on shares of Target from $130.00 to $120.00 and set a “hold” rating for the company in a research note on Thursday, March 20th. Two analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $117.97.

Target Trading Down 0.8%

NYSE:TGT opened at $94.30 on Thursday. The company has a market capitalization of $42.85 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 1.94 and a beta of 1.27. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. Target has a 52-week low of $87.35 and a 52-week high of $167.40. The stock has a fifty day simple moving average of $97.28 and a 200-day simple moving average of $119.97.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.35). The firm had revenue of $24.20 billion for the quarter, compared to analyst estimates of $24.54 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the firm earned $2.03 EPS. On average, equities research analysts expect that Target will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date is Wednesday, May 14th. Target’s payout ratio is currently 49.23%.

Institutional Trading of Target

A number of institutional investors have recently modified their holdings of TGT. Hopwood Financial Services Inc. purchased a new stake in shares of Target during the 4th quarter worth about $29,000. Bernard Wealth Management Corp. purchased a new stake in shares of Target during the 4th quarter worth about $29,000. WPG Advisers LLC purchased a new stake in shares of Target during the 1st quarter worth about $32,000. Raleigh Capital Management Inc. grew its holdings in shares of Target by 110.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after purchasing an additional 135 shares during the period. Finally, MCF Advisors LLC boosted its holdings in Target by 175.3% in the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after acquiring an additional 163 shares during the period. Hedge funds and other 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.