Target (NYSE:TGT) Sets New 12-Month High – Here’s Why

Shares of Target Corporation (NYSE:TGT) hit a new 52-week high during trading on Friday . The company traded as high as $144.25 and last traded at $142.5770, with a volume of 532398 shares traded. The stock had previously closed at $140.21.

Analyst Ratings Changes

A number of research firms have issued reports on TGT. Freedom Capital downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 20th. Jefferies Financial Group lifted their price target on shares of Target from $140.00 to $161.00 and gave the stock a “buy” rating in a research report on Friday, June 26th. Barclays reissued an “underweight” rating on shares of Target in a research note on Monday, June 1st. KeyCorp restated a “sector weight” rating on shares of Target in a report on Thursday, May 21st. Finally, Truist Financial raised their price objective on shares of Target from $123.00 to $130.00 and gave the company a “hold” rating in a research note on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seventeen have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $131.96.

Target Stock Down 0.2%

The company has a current ratio of 0.93, a quick ratio of 0.30 and a debt-to-equity ratio of 0.87. The firm’s fifty day moving average price is $129.35 and its 200-day moving average price is $120.43. The company has a market cap of $63.55 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 2.73 and a beta of 0.98.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, topping the consensus estimate of $1.47 by $0.24. The business had revenue of $25.44 billion for the quarter, compared to the consensus estimate of $24.66 billion. Target had a return on equity of 22.92% and a net margin of 3.24%.The firm’s revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.30 EPS. Target has set its FY 2026 guidance at 7.500-8.500 EPS. Sell-side analysts predict that Target Corporation will post 8.35 earnings per share for the current year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 12th will be given a dividend of $1.16 per share. This is an increase from Target’s previous quarterly dividend of $1.14. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 12th. Target’s payout ratio is 60.24%.

Insider Activity at Target

In other news, insider Cara A. Sylvester sold 10,000 shares of Target stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $125.89, for a total transaction of $1,258,900.00. Following the transaction, the insider owned 45,930 shares in the company, valued at $5,782,127.70. The trade was a 17.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Institutional Trading of Target

Several hedge funds have recently bought and sold shares of TGT. WFA of San Diego LLC bought a new stake in shares of Target during the second quarter worth $25,000. Jessup Wealth Management Inc acquired a new stake in shares of Target during the fourth quarter worth $25,000. Altshuler Shaham Ltd bought a new stake in Target in the 4th quarter valued at $26,000. Capital Advisors Ltd. LLC lifted its position in Target by 245.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 273 shares of the retailer’s stock valued at $33,000 after acquiring an additional 194 shares in the last quarter. Finally, Valued Wealth Advisors LLC boosted its stake in Target by 134.9% in the 1st quarter. Valued Wealth Advisors LLC now owns 296 shares of the retailer’s stock worth $36,000 after purchasing an additional 170 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

About Target

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.