Target Co. (NYSE:TGT) – Equities researchers at Jefferies Financial Group increased their Q2 2020 earnings estimates for shares of Target in a report issued on Wednesday, May 22nd, Zacks Investment Research reports. Jefferies Financial Group analyst C. Mandeville now anticipates that the retailer will post earnings of $1.63 per share for the quarter, up from their previous forecast of $1.59. Jefferies Financial Group also issued estimates for Target’s Q3 2020 earnings at $1.18 EPS, FY2020 earnings at $5.93 EPS, FY2021 earnings at $6.54 EPS, FY2022 earnings at $7.04 EPS, FY2023 earnings at $7.64 EPS and FY2024 earnings at $8.36 EPS.
A number of other equities research analysts have also commented on TGT. Citigroup reaffirmed a “neutral” rating and set a $78.00 price target on shares of Target in a research report on Tuesday, February 26th. Telsey Advisory Group reiterated an “outperform” rating and set a $88.00 price objective (up from $86.00) on shares of Target in a report on Wednesday, March 6th. BMO Capital Markets increased their price objective on Target from $70.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, March 6th. Deutsche Bank increased their price objective on Target from $80.00 to $84.00 and gave the stock a “hold” rating in a report on Wednesday, March 6th. Finally, Zacks Investment Research upgraded Target from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a report on Friday, March 8th. Twelve investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Target currently has an average rating of “Buy” and an average target price of $89.33.
Shares of NYSE TGT traded down $0.65 during mid-day trading on Friday, reaching $87.14. 4,033,814 shares of the company’s stock were exchanged, compared to its average volume of 5,231,856. The stock has a market capitalization of $44.98 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 2.10 and a beta of 0.57. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.88 and a quick ratio of 0.19. The firm’s fifty day moving average is $78.93. Target has a twelve month low of $60.15 and a twelve month high of $90.39.
Target (NYSE:TGT) last released its earnings results on Wednesday, May 22nd. The retailer reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.10. The firm had revenue of $17.63 billion for the quarter, compared to analyst estimates of $17.49 billion. Target had a return on equity of 26.48% and a net margin of 3.96%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.32 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be paid a $0.66 dividend. This is a positive change from Target’s previous quarterly dividend of $0.64. This represents a $2.64 annualized dividend and a dividend yield of 3.03%. Target’s dividend payout ratio (DPR) is presently 47.50%.
In related news, insider Janna A. Potts sold 8,759 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $79.00, for a total transaction of $691,961.00. Following the sale, the insider now owns 27,720 shares in the company, valued at approximately $2,189,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Edward Mcnamara sold 5,186 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $79.18, for a total value of $410,627.48. Following the sale, the insider now owns 77,550 shares in the company, valued at approximately $6,140,409. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,266 shares of company stock worth $2,353,257. Corporate insiders own 0.19% of the company’s stock.
A number of hedge funds have recently modified their holdings of TGT. Phocas Financial Corp. acquired a new position in shares of Target in the 4th quarter valued at about $25,000. CI Investments Inc. bought a new position in Target during the fourth quarter valued at $27,000. Loeb Partners Corp bought a new position in Target during the fourth quarter valued at $28,000. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in Target by 62.2% during the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 365 shares of the retailer’s stock valued at $29,000 after purchasing an additional 140 shares during the period. Finally, Advisory Alpha LLC bought a new position in Target during the first quarter valued at $30,000. Institutional investors and hedge funds own 83.42% of the company’s stock.
Target Company Profile
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.