Target (NYSE:TGT) Now Covered by Truist Financial

Truist Financial initiated coverage on shares of Target (NYSE:TGT) in a research note issued to investors on Thursday morning, Briefing.com reports. The brokerage issued a buy rating and a $270.00 target price on the retailer’s stock.

A number of other equities research analysts have also weighed in on TGT. Bank of America lifted their target price on shares of Target from $317.00 to $329.00 and gave the company a buy rating in a research note on Thursday, November 18th. Zacks Investment Research cut Target from a buy rating to a hold rating and set a $276.00 price objective on the stock. in a research report on Tuesday, October 26th. The Goldman Sachs Group upped their target price on shares of Target from $281.00 to $308.00 and gave the company a buy rating in a report on Tuesday, October 19th. Gordon Haskett downgraded Target from a buy rating to a hold rating in a research note on Friday, December 17th. Finally, Credit Suisse Group began coverage on shares of Target in a research note on Friday, November 19th. They set an outperform rating and a $286.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Target presently has a consensus rating of Buy and a consensus price target of $259.08.

TGT traded down $5.36 on Thursday, hitting $220.47. The company’s stock had a trading volume of 105,415 shares, compared to its average volume of 3,670,486. Target has a 12 month low of $166.82 and a 12 month high of $268.98. The company has a quick ratio of 0.33, a current ratio of 0.97 and a debt-to-equity ratio of 0.84. The firm has a market cap of $105.63 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00. The company’s 50 day simple moving average is $238.88 and its 200-day simple moving average is $245.45.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, November 17th. The retailer reported $3.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.83 by $0.20. The firm had revenue of $25.29 billion for the quarter, compared to analysts’ expectations of $24.60 billion. Target had a net margin of 6.56% and a return on equity of 44.81%. The business’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the company posted $2.79 EPS. Equities analysts predict that Target will post 13.19 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 10th. Investors of record on Wednesday, February 16th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Tuesday, February 15th. Target’s payout ratio is currently 26.49%.

In other Target news, insider Jill Sando sold 3,186 shares of the stock in a transaction on Wednesday, November 24th. The shares were sold at an average price of $247.61, for a total transaction of $788,885.46. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John J. Mulligan sold 28,918 shares of the stock in a transaction on Friday, December 17th. The shares were sold at an average price of $223.60, for a total transaction of $6,466,064.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,277 shares of company stock worth $15,643,765. Company insiders own 0.29% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Wilbanks Smith & Thomas Asset Management LLC lifted its position in shares of Target by 1.2% in the 3rd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,357 shares of the retailer’s stock worth $768,000 after buying an additional 39 shares during the last quarter. Financial Management Professionals Inc. increased its holdings in shares of Target by 5.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 818 shares of the retailer’s stock worth $187,000 after acquiring an additional 40 shares during the period. Beck Capital Management LLC increased its holdings in shares of Target by 2.8% in the 3rd quarter. Beck Capital Management LLC now owns 1,450 shares of the retailer’s stock worth $332,000 after acquiring an additional 40 shares during the period. MV Capital Management Inc. increased its holdings in shares of Target by 20.4% in the 3rd quarter. MV Capital Management Inc. now owns 236 shares of the retailer’s stock worth $54,000 after acquiring an additional 40 shares during the period. Finally, Waters Parkerson & CO. LLC increased its holdings in shares of Target by 3.2% in the 3rd quarter. Waters Parkerson & CO. LLC now owns 1,338 shares of the retailer’s stock worth $306,000 after acquiring an additional 41 shares during the period. Institutional investors own 78.34% of the company’s stock.

About Target

Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.

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