Target (NYSE:TGT) Price Target Lowered to $103.00 at Evercore ISI

Target (NYSE:TGT) had its target price cut by Evercore ISI from $105.00 to $103.00 in a report published on Tuesday morning,Benzinga reports. They currently have an in-line rating on the retailer’s stock.

TGT has been the topic of several other research reports. Zacks Research raised Target from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 19th. Truist Financial reduced their target price on Target from $102.00 to $83.00 and set a “hold” rating for the company in a research note on Thursday, October 2nd. Barclays reiterated an “underweight” rating and set a $91.00 target price on shares of Target in a research note on Monday, July 21st. Piper Sandler reiterated a “neutral” rating on shares of Target in a research note on Tuesday, July 29th. Finally, Wedbush reiterated an “outperform” rating on shares of Target in a research note on Thursday, July 17th. Nine equities research analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $109.65.

Target Stock Up 0.4%

NYSE:TGT opened at $89.36 on Tuesday. The firm has a market capitalization of $40.60 billion, a price-to-earnings ratio of 10.41, a price-to-earnings-growth ratio of 2.57 and a beta of 1.18. Target has a twelve month low of $86.30 and a twelve month high of $161.50. The stock’s 50 day moving average price is $95.25 and its two-hundred day moving average price is $97.27. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99.

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 the consensus estimate of $2.04 by $0.01. The firm had revenue of $24.99 billion for the quarter, compared to analyst estimates of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The business’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Equities research analysts expect that Target will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders 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 represents a $4.56 dividend on an annualized basis and a yield of 5.1%. This is a positive change from Target’s previous quarterly dividend of $1.12. Target’s payout ratio is currently 53.15%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TGT. Charles Schwab Investment Management Inc. grew its holdings in Target by 407.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock valued at $1,666,672,000 after buying an additional 12,825,586 shares in the last quarter. Vanguard Group Inc. grew its holdings in Target by 14.7% in the 2nd quarter. Vanguard Group Inc. now owns 51,444,338 shares of the retailer’s stock valued at $5,074,984,000 after buying an additional 6,607,982 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in Target in the 2nd quarter valued at $595,839,000. Norges Bank acquired a new position in Target in the 2nd quarter valued at $578,009,000. Finally, Pacer Advisors Inc. lifted its position in shares of Target by 1,364.3% during the 1st quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer’s stock valued at $343,312,000 after acquiring an additional 3,065,035 shares during the period. 79.73% of the stock is owned by institutional investors and hedge funds.

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.