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

Target Corporation (NYSE:TGT) has been given an average rating of “Hold” by the thirty-four brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, twenty-four have issued a hold recommendation and nine have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $116.70.

Several analysts have issued reports on TGT shares. Bank of America lowered Target from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $145.00 to $105.00 in a research note on Thursday, May 22nd. Barclays began coverage on Target in a research note on Thursday, May 22nd. They issued an “equal weight” rating on the stock. Guggenheim reduced their target price on shares of Target from $155.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, May 27th. Wells Fargo & Company reduced their target price on shares of Target from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, May 22nd. Finally, DA Davidson reduced their target price on shares of Target from $140.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, May 22nd.

Target Trading Up 0.2%

NYSE:TGT opened at $95.22 on Thursday. Target has a fifty-two week low of $87.35 and a fifty-two week high of $167.40. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.25. The stock has a market capitalization of $43.26 billion, a PE ratio of 10.46, a price-to-earnings-growth ratio of 2.73 and a beta of 1.22. The business’s 50-day simple moving average is $95.56 and its 200-day simple moving average is $114.51.

Target (NYSE:TGT) last released its earnings results on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.35). The firm had revenue of $24.20 billion during the quarter, compared to the consensus estimate of $24.54 billion. Target had a net margin of 3.95% and a return on equity of 25.59%. The company’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.03 EPS. Sell-side analysts expect that Target will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 4.70%. The ex-dividend date is Wednesday, August 13th. Target’s dividend payout ratio (DPR) is presently 49.23%.

Insider Activity

In other news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total value of $4,328,100.00. Following the sale, the insider now directly owns 246,453 shares in the company, valued at approximately $23,703,849.54. This trade represents a 15.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Target

A number of institutional investors and hedge funds have recently bought and sold shares of TGT. Brighton Jones LLC boosted its stake in shares of Target by 101.3% during the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock valued at $822,000 after purchasing an additional 3,059 shares in the last quarter. Sapient Capital LLC grew its stake in shares of Target by 22.7% in the fourth quarter. Sapient Capital LLC now owns 2,667 shares of the retailer’s stock worth $361,000 after purchasing an additional 493 shares during the last quarter. Sovran Advisors LLC bought a new stake in shares of Target in the fourth quarter worth $841,000. Leavell Investment Management Inc. lifted its stake in shares of Target by 17.3% in the fourth quarter. Leavell Investment Management Inc. now owns 6,637 shares of the retailer’s stock worth $897,000 after acquiring an additional 979 shares during the period. Finally, Schear Investment Advisers LLC lifted its stake in shares of Target by 122.2% in the fourth quarter. Schear Investment Advisers LLC now owns 3,422 shares of the retailer’s stock worth $463,000 after acquiring an additional 1,882 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

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.