Citigroup Issues Positive Forecast for Target (NYSE:TGT) Stock Price

Target (NYSE:TGT) had its price target lifted by Citigroup from $94.00 to $100.00 in a report issued on Friday,Benzinga reports. They currently have a neutral rating on the retailer’s stock.

Other research analysts have also issued reports about the company. Wells Fargo & Company dropped their target price on Target from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, May 22nd. JPMorgan Chase & Co. increased their target price on Target from $105.00 to $109.00 and gave the company a “neutral” rating in a research note on Thursday, May 22nd. DA Davidson reduced their price objective on Target from $140.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, May 22nd. Loop Capital set a $95.00 price objective on Target in a research report on Thursday, July 17th. Finally, The Goldman Sachs Group dropped their target price on Target from $101.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, May 22nd. Ten investment analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $113.74.

Target Trading Up 2.0%

Shares of NYSE TGT opened at $98.9880 on Friday. The company has a market cap of $44.98 billion, a price-to-earnings ratio of 11.54, a P/E/G ratio of 2.80 and a beta of 1.22. Target has a 12 month low of $87.35 and a 12 month high of $161.84. The company has a quick ratio of 0.25, a current ratio of 0.99 and a debt-to-equity ratio of 0.99. The business has a fifty day simple moving average of $102.06 and a 200-day simple moving average of $103.85.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, beating 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%.Target’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Sell-side analysts predict that Target will post 8.69 EPS for the current year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Wednesday, August 13th. Target’s dividend payout ratio (DPR) is 53.15%.

Insider Activity at Target

In other news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total value of $4,328,100.00. Following the completion of the sale, the insider directly owned 246,453 shares of the company’s stock, valued at approximately $23,703,849.54. This trade represents a 15.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Target

Several hedge funds and other institutional investors have recently made changes to their positions in TGT. WFA of San Diego LLC acquired a new stake in shares of Target in the 2nd quarter valued at $25,000. Raleigh Capital Management Inc. boosted its position in shares of Target by 63.4% in the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock worth $26,000 after purchasing an additional 102 shares during the last quarter. Kozak & Associates Inc. boosted its position in shares of Target by 2,530.0% in the 2nd quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock worth $27,000 after purchasing an additional 253 shares during the last quarter. Bernard Wealth Management Corp. bought a new position in shares of Target in the 4th quarter worth $29,000. Finally, Investment Research & Advisory Group Inc. bought a new position in shares of Target in the 2nd quarter worth $29,000. 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.