Target (NYSE:TGT) Receives Buy Rating from Guggenheim

Guggenheim reiterated their buy rating on shares of Target (NYSE:TGT) in a research note published on Thursday,Benzinga reports. The brokerage currently has a $115.00 target price on the retailer’s stock.

Several other equities research analysts have also recently issued reports on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and set a $110.00 price target on shares of Target in a research note on Wednesday. The Goldman Sachs Group decreased their price target on shares of Target from $101.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday, May 22nd. Loop Capital set a $95.00 price target on shares of Target in a research note on Thursday, July 17th. Citigroup decreased their price target on shares of Target from $97.00 to $94.00 and set a “neutral” rating on the stock in a research note on Thursday, May 22nd. Finally, Jefferies Financial Group decreased their price target on shares of Target from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday. Ten analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $113.55.

Target Price Performance

Shares of NYSE TGT opened at $97.0770 on Thursday. The stock has a market cap of $44.11 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 2.84 and a beta of 1.22. Target has a 52 week low of $87.35 and a 52 week high of $161.84. The company’s 50-day moving average price is $101.99 and its 200 day moving average price is $104.11. The company has a current ratio of 0.99, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.01. The firm had revenue of $24.99 billion for the quarter, compared to analysts’ expectations of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. The firm’s revenue was down .9% on a year-over-year basis. During the same period in the prior year, the company earned $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, research analysts forecast that Target will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be given a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 annualized dividend and a dividend yield of 4.6%. Target’s dividend payout ratio (DPR) is currently 50.11%.

Insider Activity

In related news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total value of $4,328,100.00. Following the sale, the insider directly owned 246,453 shares of the company’s stock, valued at approximately $23,703,849.54. This trade represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Target

Several hedge funds have recently modified their holdings of TGT. Brighton Jones LLC boosted its position in shares of Target by 101.3% in the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock worth $822,000 after acquiring an additional 3,059 shares during the last quarter. Natixis purchased a new position in Target in the fourth quarter valued at approximately $767,000. MGO One Seven LLC raised its holdings in Target by 19.3% in the fourth quarter. MGO One Seven LLC now owns 10,293 shares of the retailer’s stock valued at $1,392,000 after buying an additional 1,664 shares during the period. Adage Capital Partners GP L.L.C. raised its holdings in Target by 1.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 273,779 shares of the retailer’s stock valued at $37,009,000 after buying an additional 4,500 shares during the period. Finally, Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in Target by 0.8% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 254,898 shares of the retailer’s stock valued at $34,636,000 after buying an additional 2,061 shares during the period. 79.73% of the stock is owned by institutional investors and hedge funds.

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.