Target (NYSE:TGT) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Target (NYSE:TGT) from a strong sell rating to a hold rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other analysts have also issued reports on the company. Robert W. Baird dropped their price objective on Target from $100.00 to $92.00 and set a “neutral” rating on the stock in a research note on Thursday, November 20th. Roth Capital set a $88.00 price target on Target in a research note on Thursday, November 20th. Royal Bank Of Canada cut their price target on Target from $107.00 to $99.00 and set an “outperform” rating for the company in a report on Thursday, November 20th. Jefferies Financial Group decreased their price objective on shares of Target from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, August 20th. Finally, Wall Street Zen upgraded shares of Target from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Eleven equities research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $102.79.

Target Stock Performance

Shares of TGT stock opened at $91.55 on Wednesday. The company has a fifty day moving average price of $90.37 and a two-hundred day moving average price of $95.42. Target has a one year low of $83.44 and a one year high of $145.08. The stock has a market cap of $41.45 billion, a P/E ratio of 11.11, a P/E/G ratio of 9.89 and a beta of 1.13. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.97 and a quick ratio of 0.27.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 19th. The retailer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.07. Target had a net margin of 3.58% and a return on equity of 22.74%. The company had revenue of $25.27 billion for the quarter, compared to analyst estimates of $25.44 billion. During the same period in the previous year, the business earned $1.85 EPS. Target’s revenue for the quarter was down 1.6% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-8.000 EPS. As a group, equities analysts predict that Target will post 8.69 EPS for the current year.

Target Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th were issued 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 yield of 5.0%. This is an increase from Target’s previous quarterly dividend of $1.12. Target’s payout ratio is presently 55.34%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. WFA of San Diego LLC bought a new position in Target in the second quarter valued at about $25,000. Raleigh Capital Management Inc. raised its holdings in Target by 63.4% in the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock valued at $26,000 after buying an additional 102 shares during the last quarter. Kozak & Associates Inc. raised its holdings in Target by 2,530.0% in the 2nd quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock valued at $27,000 after buying an additional 253 shares during the last quarter. Investment Research & Advisory Group Inc. acquired a new stake in Target during the 2nd quarter worth approximately $29,000. Finally, Heartwood Wealth Advisors LLC bought a new stake in Target during the 3rd quarter worth approximately $27,000. 79.73% of the stock is owned by institutional investors.

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.