Target (NYSE:TGT) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Target (NYSE:TGT) from a hold rating to a buy rating in a report published on Wednesday.

Several other brokerages also recently commented on TGT. Truist Financial lowered their price objective on Target from $134.00 to $124.00 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. Piper Sandler lowered their price target on Target from $132.00 to $124.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. JPMorgan Chase & Co. cut their price objective on shares of Target from $146.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. Roth Mkm reissued a “neutral” rating and issued a $122.00 target price (down previously from $131.00) on shares of Target in a report on Wednesday, March 5th. Finally, Citigroup cut their target price on shares of Target from $133.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $142.90.

Target Stock Up 1.4 %

TGT stock opened at $105.84 on Wednesday. The business’s 50-day moving average price is $121.12 and its 200-day moving average price is $135.54. The stock has a market cap of $48.22 billion, a P/E ratio of 11.22, a PEG ratio of 1.94 and a beta of 1.18. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. Target has a twelve month low of $100.50 and a twelve month high of $177.23.

Target (NYSE:TGT) last issued its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.17. The business had revenue of $30.92 billion for the quarter, compared to the consensus estimate of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. On average, equities research analysts forecast that Target will post 8.69 EPS for the current year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s dividend payout ratio is currently 50.56%.

Institutional Investors Weigh In On Target

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TGT. MassMutual Private Wealth & Trust FSB increased its position in shares of Target by 15.7% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 27,066 shares of the retailer’s stock worth $2,825,000 after acquiring an additional 3,670 shares during the period. Wellington Management Group LLP increased its holdings in Target by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 56,384 shares of the retailer’s stock worth $7,622,000 after purchasing an additional 6,253 shares during the period. Mascagni Wealth Management Inc. bought a new stake in Target during the 4th quarter valued at $49,000. DSG Capital Advisors LLC purchased a new stake in shares of Target in the 4th quarter worth $18,238,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Target by 6.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 166,086 shares of the retailer’s stock worth $22,451,000 after buying an additional 10,356 shares in the last quarter. Institutional investors 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.