Guggenheim Raises Target (NYSE:TGT) Price Target to $155.00

Target (NYSE:TGT) had its target price boosted by Guggenheim from $145.00 to $155.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the retailer’s stock.

Other research analysts also recently issued reports about the stock. TD Cowen cut their price target on shares of Target from $165.00 to $145.00 and set a “hold” rating for the company in a report on Thursday, November 21st. Wells Fargo & Company reduced their target price on Target from $180.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Citigroup raised their price target on Target from $130.00 to $133.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Bank of America decreased their price objective on shares of Target from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Finally, Truist Financial lifted their target price on shares of Target from $129.00 to $134.00 and gave the company a “hold” rating in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $158.57.

Target Price Performance

Shares of NYSE TGT opened at $135.74 on Wednesday. The stock has a fifty day moving average of $135.37 and a 200-day moving average of $145.01. The stock has a market cap of $62.20 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 2.17 and a beta of 1.16. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. Target has a fifty-two week low of $120.21 and a fifty-two week high of $181.86.

Target (NYSE:TGT) last posted its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. During the same period in the previous year, the firm earned $2.10 EPS. The firm’s quarterly revenue was up .9% compared to the same quarter last year. Equities research analysts anticipate that Target will post 8.68 earnings per share for the current year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be given a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.30%. Target’s dividend payout ratio is currently 47.51%.

Hedge Funds Weigh In On Target

A number of hedge funds and other institutional investors have recently made changes to their positions in TGT. Thrivent Financial for Lutherans raised its holdings in Target by 1.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock worth $4,368,000 after purchasing an additional 490 shares in the last quarter. D.A. Davidson & CO. increased its position in shares of Target by 8.6% during the third quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock valued at $18,619,000 after buying an additional 9,510 shares during the period. Prana Capital Management LP raised its stake in Target by 47.5% in the third quarter. Prana Capital Management LP now owns 217,081 shares of the retailer’s stock worth $33,834,000 after buying an additional 69,885 shares in the last quarter. Polianta Ltd lifted its holdings in Target by 39.2% in the fourth quarter. Polianta Ltd now owns 10,300 shares of the retailer’s stock worth $1,392,000 after buying an additional 2,900 shares during the period. Finally, Leibman Financial Services Inc. bought a new stake in Target during the 4th quarter valued at approximately $2,272,000. Institutional investors own 79.73% of the company’s stock.

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.