Target (NYSE:TGT) Hits New 52-Week High – Here’s What Happened

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

Analyst Upgrades and Downgrades

A number of analysts have commented on TGT shares. Evercore set a $130.00 target price on shares of Target in a report on Monday, May 18th. Argus set a $150.00 price target on shares of Target in a research note on Friday, May 22nd. Sanford C. Bernstein restated a “market perform” rating on shares of Target in a research report on Monday, June 15th. Wall Street Zen raised shares of Target from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Finally, Truist Financial lifted their price target on shares of Target from $123.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seventeen have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $131.96.

Target Trading Up 1.6%

The stock has a market cap of $64.72 billion, a P/E ratio of 18.82, a price-to-earnings-growth ratio of 2.70 and a beta of 0.98. The stock’s 50-day moving average is $129.05 and its two-hundred day moving average is $120.29. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.93 and a quick ratio of 0.30.

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

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th will be given a $1.16 dividend. 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 is Wednesday, August 12th. Target’s dividend payout ratio (DPR) is presently 60.24%.

Insider Buying and Selling

In other Target news, insider Cara A. Sylvester sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider owned 45,930 shares in the company, valued at $5,782,127.70. This trade represents a 17.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.13% of the company’s stock.

Institutional Trading of Target

A number of large investors have recently added to or reduced their stakes in TGT. WFA of San Diego LLC bought a new position in shares of Target during the 2nd quarter valued at approximately $25,000. Jessup Wealth Management Inc bought a new stake in Target in the fourth quarter worth $25,000. Altshuler Shaham Ltd bought a new stake in Target in the fourth quarter worth $26,000. Global Wealth Strategies & Associates raised its stake in Target by 192.0% during the fourth quarter. Global Wealth Strategies & Associates now owns 292 shares of the retailer’s stock valued at $29,000 after purchasing an additional 192 shares in the last quarter. Finally, Eagle Bay Advisors LLC purchased a new stake in Target during the fourth quarter valued at $30,000. Institutional investors own 79.73% of the company’s stock.

Target Company Profile

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.