Target (NYSE:TGT) Earns “Buy” Rating from BMO Capital Markets
BMO Capital Markets reissued their buy rating on shares of Target (NYSE:TGT) in a report released on Wednesday, TipRanks reports. BMO Capital Markets currently has a $125.00 target price on the retailer’s stock.
A number of other analysts also recently commented on the stock. ValuEngine upgraded shares of Target from a sell rating to a hold rating in a research report on Monday, March 9th. Telsey Advisory Group restated an outperform rating on shares of Target in a research report on Wednesday, February 26th. Nomura dropped their price target on shares of Target from $131.00 to $121.00 and set a buy rating on the stock in a research report on Friday, April 24th. Robert W. Baird restated a buy rating and set a $140.00 price target on shares of Target in a research report on Tuesday, March 3rd. Finally, Goldman Sachs Group upgraded shares of Target from a buy rating to a conviction-buy rating in a research report on Wednesday, March 4th. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $128.21.
NYSE:TGT traded down $1.19 during mid-day trading on Wednesday, hitting $117.49. The stock had a trading volume of 4,835,356 shares, compared to its average volume of 5,780,963. The stock has a market capitalization of $59.32 billion, a price-to-earnings ratio of 21.76, a P/E/G ratio of 4.03 and a beta of 0.75. The company has a 50 day simple moving average of $109.72 and a 200-day simple moving average of $114.20. Target has a 52 week low of $76.86 and a 52 week high of $130.24. The company has a current ratio of 1.01, a quick ratio of 0.27 and a debt-to-equity ratio of 1.46.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Tuesday, May 19th. Target’s payout ratio is presently 41.31%.
In related news, insider Brian C. Cornell sold 110,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $120.00, for a total transaction of $13,200,000.00. Following the transaction, the insider now directly owns 208,502 shares of the company’s stock, valued at $25,020,240. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Robert M. Harrison sold 631 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $102.00, for a total transaction of $64,362.00. Following the transaction, the chief accounting officer now directly owns 9,634 shares in the company, valued at $982,668. The disclosure for this sale can be found here. Insiders have sold 111,095 shares of company stock worth $13,314,321 over the last ninety days. 0.24% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in TGT. Prestige Wealth Management Group LLC lifted its stake in Target by 888.9% in the first quarter. Prestige Wealth Management Group LLC now owns 267 shares of the retailer’s stock valued at $25,000 after acquiring an additional 240 shares during the last quarter. IMA Wealth Inc. acquired a new stake in Target in the first quarter valued at approximately $28,000. Hall Laurie J Trustee lifted its stake in Target by 118.2% in the fourth quarter. Hall Laurie J Trustee now owns 240 shares of the retailer’s stock valued at $31,000 after acquiring an additional 130 shares during the last quarter. Howard Wealth Management LLC acquired a new stake in Target in the fourth quarter valued at approximately $32,000. Finally, Retirement Network acquired a new stake in Target in the fourth quarter valued at approximately $35,000. 80.49% of the stock is currently owned by hedge funds and other institutional investors.
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.
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