Target Co. (NYSE:TGT) Plans $1.12 Quarterly Dividend

Target Co. (NYSE:TGT) declared a quarterly dividend on Wednesday, January 15th,RTT News reports. Shareholders of record on Wednesday, February 12th will be given a dividend of 1.12 per share by the retailer on Saturday, March 1st. This represents a $4.48 dividend on an annualized basis and a yield of 3.29%.

Target has raised its dividend by an average of 12.0% annually over the last three years and has increased its dividend every year for the last 54 years. Target has a payout ratio of 44.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Target to earn $9.25 per share next year, which means the company should continue to be able to cover its $4.48 annual dividend with an expected future payout ratio of 48.4%.

Target Price Performance

NYSE:TGT opened at $136.18 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The firm has a fifty day simple moving average of $137.06 and a 200 day simple moving average of $145.39. Target has a 1-year low of $120.21 and a 1-year high of $181.86. The stock has a market capitalization of $62.40 billion, a PE ratio of 14.44, a P/E/G ratio of 2.21 and a beta of 1.16.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The business had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.10 EPS. On average, research analysts expect that Target will post 8.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TGT has been the topic of a number of research analyst reports. Hsbc Global Res cut Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. StockNews.com downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 21st. Piper Sandler lowered their price target on shares of Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft cut Target from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $184.00 to $108.00 in a report on Wednesday, November 20th. Finally, Daiwa America cut Target from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $160.57.

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.