Target (NYSE:TGT) Price Target Cut to $105.00 by Analysts at Evercore ISI

Target (NYSE:TGT) had its target price lowered by Evercore ISI from $106.00 to $105.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has an in-line rating on the retailer’s stock.

A number of other analysts also recently issued reports on TGT. Truist Financial increased their price target on shares of Target from $90.00 to $107.00 and gave the stock a “hold” rating in a report on Wednesday, August 13th. Citigroup increased their price target on shares of Target from $94.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, August 22nd. Bank of America reissued an “underperform” rating and set a $93.00 price target (down from $105.00) on shares of Target in a report on Friday, August 15th. Telsey Advisory Group reissued a “market perform” rating and set a $110.00 price target on shares of Target in a report on Wednesday, August 20th. Finally, Loop Capital set a $95.00 price target on shares of Target in a report on Thursday, July 17th. Nine investment analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $110.48.

Target Stock Up 0.5%

NYSE:TGT opened at $87.02 on Tuesday. The firm has a market capitalization of $39.54 billion, a P/E ratio of 10.14, a PEG ratio of 2.50 and a beta of 1.16. Target has a 1-year low of $86.30 and a 1-year high of $161.50. The company’s fifty day moving average price is $98.43 and its 200-day moving average price is $98.51. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32.

Target (NYSE:TGT) last released its quarterly earnings data 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. 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 analyst estimates of $24.84 billion. During the same quarter in the prior year, the business earned $2.57 earnings per share. The business’s quarterly revenue was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, equities research analysts anticipate that Target will post 8.69 EPS for the current year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be paid a $1.14 dividend. This is an increase from Target’s previous quarterly dividend of $1.12. This represents a $4.56 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Wednesday, November 12th. Target’s payout ratio is 53.15%.

Hedge Funds Weigh In On Target

A number of institutional investors have recently bought and sold shares of the company. JNBA Financial Advisors raised its stake in Target by 3.0% during the second quarter. JNBA Financial Advisors now owns 3,347 shares of the retailer’s stock worth $330,000 after purchasing an additional 96 shares during the period. Pin Oak Investment Advisors Inc. raised its stake in Target by 32.3% during the second quarter. Pin Oak Investment Advisors Inc. now owns 401 shares of the retailer’s stock worth $41,000 after purchasing an additional 98 shares during the period. Centaurus Financial Inc. raised its stake in Target by 2.7% during the fourth quarter. Centaurus Financial Inc. now owns 3,803 shares of the retailer’s stock worth $514,000 after purchasing an additional 99 shares during the period. OMERS ADMINISTRATION Corp raised its stake in Target by 0.6% during the second quarter. OMERS ADMINISTRATION Corp now owns 17,618 shares of the retailer’s stock worth $1,738,000 after purchasing an additional 100 shares during the period. Finally, Raleigh Capital Management Inc. raised its stake in Target by 63.4% during the second quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock worth $26,000 after purchasing an additional 102 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

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.