Target (NYSE:TGT) Coverage Initiated by Analysts at Wolfe Research

Wolfe Research assumed coverage on shares of Target (NYSE:TGT) in a research report report published on Thursday, MarketBeat reports. The brokerage issued an underperform rating and a $80.00 price target on the retailer’s stock.

Several other analysts have also recently issued reports on TGT. Citigroup increased their price objective on Target from $94.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, August 22nd. Wells Fargo & Company reduced their price target on Target from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, May 22nd. The Goldman Sachs Group decreased their price objective on Target from $101.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, May 22nd. Loop Capital set a $95.00 target price on shares of Target in a research note on Thursday, July 17th. Finally, Truist Financial raised their target price on shares of Target from $90.00 to $107.00 and gave the company a “hold” rating in a report on Wednesday, August 13th. Ten research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, Target currently has an average rating of “Hold” and an average price target of $112.69.

Target Stock Up 0.5%

Shares of TGT opened at $89.42 on Thursday. The company’s 50-day simple moving average is $99.42 and its 200-day simple moving average is $99.21. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. Target has a 1 year low of $87.35 and a 1 year high of $161.50. The stock has a market capitalization of $40.63 billion, a PE ratio of 10.42, a P/E/G ratio of 2.57 and a beta of 1.16.

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

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be issued a $1.14 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This is a positive change from Target’s previous quarterly dividend of $1.12. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.1%. Target’s dividend payout ratio is currently 53.15%.

Hedge Funds Weigh In On Target

Several institutional investors have recently added to or reduced their stakes in the stock. Punch & Associates Investment Management Inc. grew its stake in shares of Target by 48.1% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 84,190 shares of the retailer’s stock valued at $8,786,000 after purchasing an additional 27,329 shares during the last quarter. DSG Capital Advisors LLC lifted its holdings in shares of Target by 16.1% during the first quarter. DSG Capital Advisors LLC now owns 156,644 shares of the retailer’s stock worth $16,347,000 after purchasing an additional 21,726 shares during the period. Viking Fund Management LLC grew its position in Target by 20.0% in the 1st quarter. Viking Fund Management LLC now owns 60,000 shares of the retailer’s stock valued at $6,262,000 after buying an additional 10,000 shares during the last quarter. Correct Capital Wealth Management increased its stake in Target by 44.7% in the 1st quarter. Correct Capital Wealth Management now owns 13,556 shares of the retailer’s stock valued at $1,415,000 after buying an additional 4,189 shares during the period. Finally, PDT Partners LLC purchased a new position in Target during the 1st quarter worth $4,623,000. Institutional investors and hedge funds 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.