Target (NYSE:TGT) Reaches New 12-Month High - Still a Buy?

Shares of Target Corporation (NYSE:TGT - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $170.75 and last traded at $169.9640, with a volume of 6409823 shares traded. The stock had previously closed at $165.44.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TGT. Barclays increased their target price on shares of Target from $115.00 to $140.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 19th. Truist Financial upped their target price on shares of Target from $147.00 to $167.00 and gave the stock a "hold" rating in a research report on Thursday. Guggenheim increased their price target on shares of Target from $150.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday. Jefferies Financial Group raised their price objective on Target from $161.00 to $177.00 and gave the company a "buy" rating in a research note on Friday, August 14th. Finally, Freedom Capital downgraded shares of Target from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 20th. Eleven equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, Target has a consensus rating of "Hold" and a consensus price target of $159.52.

Target Trading Up 2.7%

The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.36 and a current ratio of 0.99. The stock has a market cap of $77.20 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 3.34 and a beta of 0.96. The firm has a 50-day moving average price of $141.55 and a 200-day moving average price of $128.55.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings data on Wednesday, August 19th. The retailer reported $4.11 EPS for the quarter, beating the consensus estimate of $2.35 by $1.76. Target had a return on equity of 23.23% and a net margin of 4.08%.The company had revenue of $26.54 billion for the quarter, compared to analysts' expectations of $26.13 billion. During the same period last year, the firm posted $2.05 earnings per share. Target's revenue was up 5.3% compared to the same quarter last year. Target has set its FY 2026 guidance at 9.900-10.900 EPS. As a group, equities analysts anticipate that Target Corporation will post 8.84 EPS for the current fiscal year.

Target Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th will be paid a dividend of $1.16 per share. This is a boost from Target's previous quarterly dividend of $1.14. The ex-dividend date is Wednesday, August 12th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.7%. Target's dividend payout ratio is presently 48.18%.

Insider Buying and Selling

In related news, insider Cara A. Sylvester sold 10,000 shares of the company's stock in a transaction on Friday, May 29th. The shares were sold at an average price of $125.89, for a total value of $1,258,900.00. Following the completion of the transaction, the insider owned 45,930 shares of the company's stock, valued at approximately $5,782,127.70. This represents a 17.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Matthew A. Liegel sold 926 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $163.51, for a total value of $151,410.26. Following the sale, the chief accounting officer owned 12,266 shares of the company's stock, valued at $2,005,613.66. This represents a 7.02% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.13% of the company's stock.

Hedge Funds Weigh In On Target

Institutional investors have recently added to or reduced their stakes in the company. WFA of San Diego LLC purchased a new stake in Target during the second quarter valued at $25,000. Jessup Wealth Management Inc purchased a new position in shares of Target in the 4th quarter worth $25,000. Richardson Financial Services Inc. bought a new stake in shares of Target in the 2nd quarter worth about $26,000. Kimelman & Baird LLC bought a new stake in shares of Target in the 2nd quarter worth about $26,000. Finally, Altshuler Shaham Ltd bought a new stake in shares of Target in the 4th quarter worth about $26,000. Hedge funds and other institutional investors own 79.73% of the company's stock.

About Target

Target Corporation NYSE: TGT is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.

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