Target Corporation (NYSE:TGT) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Target Corporation has received a consensus recommendation of "Hold" from 38 brokerages, with 4 ratings as "Sell," 25 as "Hold," and 9 as "Buy."
• The company recently reported quarterly earnings of $2.05 EPS, slightly surpassing analyst expectations, but revenue decreased by 0.9% year-over-year.
• Target announced an increase in its quarterly dividend from $1.12 to $1.14 per share, representing a dividend yield of 5.1%.

Target Corporation (NYSE:TGT - Get Free Report) has earned an average recommendation of "Hold" from the thirty-eight brokerages that are currently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, twenty-five have issued a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $109.00.

TGT has been the topic of a number of research reports. Truist Financial dropped their price target on shares of Target from $102.00 to $83.00 and set a "hold" rating for the company in a research note on Thursday, October 2nd. Wolfe Research initiated coverage on shares of Target in a research note on Thursday, September 18th. They set an "underperform" rating and a $80.00 price target for the company. DA Davidson dropped their price target on shares of Target from $115.00 to $108.00 and set a "buy" rating for the company in a research note on Monday. Guggenheim reaffirmed a "buy" rating and issued a $115.00 target price on shares of Target in a research note on Thursday, August 21st. Finally, Jefferies Financial Group lowered their target price on shares of Target from $120.00 to $115.00 and set a "buy" rating for the company in a research note on Wednesday, August 20th.

Target Trading Up 1.8%

Target stock opened at $88.94 on Wednesday. The firm's 50 day moving average price is $93.96 and its two-hundred day moving average price is $96.65. Target has a 1 year low of $85.36 and a 1 year high of $161.50. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. The firm has a market cap of $40.41 billion, a price-to-earnings ratio of 10.37, a price-to-earnings-growth ratio of 2.54 and a beta of 1.18.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, beating analysts' consensus estimates of $2.04 by $0.01. The business had revenue of $24.99 billion for the quarter, compared to the consensus estimate of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. Target's revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the firm earned $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, research analysts predict that Target will post 8.69 EPS for the current fiscal year.

Target Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be given a dividend of $1.14 per share. This is a positive change from Target's previous quarterly dividend of $1.12. This represents a $4.56 annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend is Wednesday, November 12th. Target's payout ratio is currently 53.15%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TGT. JNBA Financial Advisors lifted its stake in shares of Target by 3.0% during the 2nd quarter. JNBA Financial Advisors now owns 3,347 shares of the retailer's stock worth $330,000 after buying an additional 96 shares during the last quarter. Pin Oak Investment Advisors Inc. raised its stake in Target by 32.3% in the 2nd quarter. Pin Oak Investment Advisors Inc. now owns 401 shares of the retailer's stock worth $41,000 after purchasing an additional 98 shares in the last quarter. OMERS ADMINISTRATION Corp raised its position in shares of Target by 0.6% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 17,618 shares of the retailer's stock valued at $1,738,000 after buying an additional 100 shares in the last quarter. Raleigh Capital Management Inc. raised its position in shares of Target by 63.4% in the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer's stock valued at $26,000 after buying an additional 102 shares in the last quarter. Finally, Guardian Wealth Advisors LLC raised its position in shares of Target by 2.6% in the 1st quarter. Guardian Wealth Advisors LLC now owns 4,043 shares of the retailer's stock valued at $422,000 after buying an additional 104 shares in the last quarter. Institutional investors own 79.73% of the company's stock.

About Target

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.

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