Target Corporation (NYSE:TGT) Given Consensus Rating of “Hold” by Brokerages

Shares of Target Corporation (NYSE:TGT) have earned a consensus rating of “Hold” from the thirty-six research firms that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eleven have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $102.7931.

A number of research firms recently weighed in on TGT. Piper Sandler restated a “neutral” rating and issued a $85.00 price objective (down from $94.00) on shares of Target in a report on Thursday, November 20th. Wall Street Zen upgraded Target from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. Jefferies Financial Group lowered their price objective on Target from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, August 20th. BTIG Research assumed coverage on Target in a research note on Tuesday, October 14th. They issued a “neutral” rating on the stock. Finally, Royal Bank Of Canada reduced their target price on Target from $107.00 to $99.00 and set an “outperform” rating on the stock in a report on Thursday, November 20th.

Hedge Funds Weigh In On Target

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Target by 12.6% in the 3rd quarter. Vanguard Group Inc. now owns 57,925,898 shares of the retailer’s stock worth $5,195,953,000 after acquiring an additional 6,481,560 shares in the last quarter. State Street Corp grew its stake in Target by 2.5% during the third quarter. State Street Corp now owns 37,648,065 shares of the retailer’s stock worth $3,377,031,000 after purchasing an additional 911,964 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Target by 1.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 16,247,590 shares of the retailer’s stock worth $1,602,825,000 after purchasing an additional 277,176 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in Target in the second quarter worth approximately $595,839,000. Finally, Norges Bank acquired a new position in Target in the second quarter valued at approximately $578,009,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Performance

NYSE:TGT opened at $90.98 on Thursday. Target has a twelve month low of $83.44 and a twelve month high of $145.08. The company has a quick ratio of 0.27, a current ratio of 0.97 and a debt-to-equity ratio of 0.99. The stock’s 50-day simple moving average is $90.28 and its 200 day simple moving average is $95.44. The firm has a market capitalization of $41.20 billion, a PE ratio of 11.04, a price-to-earnings-growth ratio of 9.94 and a beta of 1.13.

Target (NYSE:TGT) last posted its earnings results on Wednesday, November 19th. The retailer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.07. The firm had revenue of $25.27 billion during the quarter, compared to analysts’ expectations of $25.44 billion. Target had a net margin of 3.58% and a return on equity of 22.74%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.85 earnings per share. Target has set its FY 2025 guidance at 7.000-8.000 EPS. On average, analysts anticipate that Target will post 8.69 EPS for the current fiscal year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th were paid a $1.14 dividend. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.0%. This is an increase from Target’s previous quarterly dividend of $1.12. Target’s payout ratio is currently 55.34%.

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.