Target (NYSE:TGT) Price Target Raised to $107.00

Target (NYSE:TGT) had its price objective boosted by Royal Bank Of Canada from $104.00 to $107.00 in a report published on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the retailer’s stock.

A number of other brokerages have also weighed in on TGT. DA Davidson dropped their target price on shares of Target from $140.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, May 22nd. Wells Fargo & Company dropped their target price on shares of Target from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, May 22nd. Loop Capital set a $95.00 target price on shares of Target in a research report on Thursday, July 17th. Telsey Advisory Group restated a “market perform” rating and set a $110.00 target price on shares of Target in a research report on Wednesday. Finally, Bank of America restated an “underperform” rating and set a $93.00 target price (down previously from $105.00) on shares of Target in a research report on Friday, August 15th. Ten analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $113.74.

Target Stock Performance

TGT opened at $98.9880 on Thursday. The firm has a market cap of $44.98 billion, a P/E ratio of 11.54, a PEG ratio of 2.86 and a beta of 1.22. Target has a 1-year low of $87.35 and a 1-year high of $161.84. The company has a 50 day simple moving average of $102.06 and a two-hundred day simple moving average of $103.64. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.25.

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

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a yield of 4.5%. Target’s dividend payout ratio is presently 53.15%.

Insider Transactions at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the sale, the insider owned 246,453 shares of the company’s stock, valued at $23,703,849.54. This represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Target

A number of hedge funds have recently bought and sold shares of the business. Monarch Capital Management Inc. raised its stake in Target by 2.6% during the second quarter. Monarch Capital Management Inc. now owns 14,610 shares of the retailer’s stock valued at $1,441,000 after purchasing an additional 375 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Target in the second quarter valued at $682,000. Marex Group plc purchased a new stake in shares of Target in the second quarter valued at $1,598,000. Advisory Services Network LLC raised its stake in shares of Target by 17.1% in the second quarter. Advisory Services Network LLC now owns 21,771 shares of the retailer’s stock valued at $2,188,000 after acquiring an additional 3,179 shares during the period. Finally, State of Wyoming raised its stake in shares of Target by 16,257.1% in the second quarter. State of Wyoming now owns 1,145 shares of the retailer’s stock valued at $113,000 after acquiring an additional 1,138 shares during the period. Hedge funds and other 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.