TD Cowen Begins Coverage on Target (NYSE:TGT)

Equities researchers at TD Cowen began coverage on shares of Target (NYSE:TGT) in a research note issued on Friday, Zacks reports. The firm set a “hold” rating on the retailer’s stock.

TGT has been the subject of a number of other research reports. UBS Group increased their price objective on shares of Target from $166.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Deutsche Bank Aktiengesellschaft set a $150.00 target price on Target in a research report on Thursday, August 20th. Citigroup upped their price target on Target from $148.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, August 20th. KeyCorp restated a “sector weight” rating on shares of Target in a research report on Thursday, August 20th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $124.00 price objective (up from $110.00) on shares of Target in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $159.33.

Target Trading Up 1.2%

NYSE TGT opened at $153.70 on Friday. The firm’s 50-day moving average is $157.12 and its two-hundred day moving average is $133.81. Target has a 12 month low of $83.44 and a 12 month high of $170.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.99 and a quick ratio of 0.36. The stock has a market capitalization of $69.83 billion, a P/E ratio of 15.96, a PEG ratio of 2.81 and a beta of 0.98.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 19th. The retailer reported $4.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.35 by $1.76. Target had a net margin of 4.08% and a return on equity of 23.23%. The business had revenue of $26.54 billion during the quarter, compared to analysts’ expectations of $26.13 billion. During the same period last year, the business earned $2.05 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. Target has set its FY 2026 guidance at 9.900-10.900 EPS. On average, sell-side analysts anticipate that Target will post 8.89 earnings per share for the current year.

Insider Buying and Selling

In other Target news, insider Melissa K. Kremer sold 15,500 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $169.96, for a total transaction of $2,634,380.00. Following the sale, the insider directly owned 56,981 shares in the company, valued at $9,684,490.76. This represents a 21.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Matthew A. Liegel sold 926 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $163.51, for a total transaction of $151,410.26. Following the completion of the transaction, the chief accounting officer directly owned 12,266 shares of the company’s stock, valued at $2,005,613.66. This represents a 7.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.13% of the company’s stock.

Institutional Trading of Target

Large investors have recently modified their holdings of the stock. Richardson Financial Services Inc. raised its holdings in Target by 74.6% during the third quarter. Richardson Financial Services Inc. now owns 351 shares of the retailer’s stock worth $55,000 after purchasing an additional 150 shares during the last quarter. Cordgrass Capital Advisors LLC acquired a new position in shares of Target during the 3rd quarter worth $203,000. Ascent Group LLC raised its stake in shares of Target by 17.3% during the 3rd quarter. Ascent Group LLC now owns 20,882 shares of the retailer’s stock worth $3,272,000 after buying an additional 3,082 shares during the last quarter. Trace Wealth Advisors LLC purchased a new stake in shares of Target in the 3rd quarter worth about $243,000. Finally, Rakuten Investment Management Inc. purchased a new stake in shares of Target in the 3rd quarter worth about $12,752,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

About Target

Target Corporation is a U.S.-based general merchandise retailer that operates stores and digital shopping platforms under the Target name. The company sells a broad assortment of products, including apparel and accessories, beauty and household essentials, electronics, toys, groceries, home furnishings, and seasonal merchandise.

Target also offers services designed to support omnichannel shopping, including order pickup, Drive Up, same-day delivery, and shipping through its digital channels.