Target Corporation (NYSE:TGT) Receives $112.69 Average Target Price from Analysts

Key Points

• Target Corporation has received a consensus recommendation of "Hold" from analysts, with 4 sell ratings, 23 hold ratings, and 10 buy ratings among 37 ratings firms.
• The retailer's recent quarterly earnings topped estimates, reporting $2.05 EPS on revenues of $24.99 billion, although revenue decreased by 0.9% compared to last year.
• Target announced an increase in its quarterly dividend to $1.14 per share, effective December 1st, representing a 5.2% yield.

Target Corporation (NYSE:TGT - Get Free Report) has been assigned an average recommendation of "Hold" from the thirty-seven research firms that are covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and ten have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $112.6875.

Several research firms have commented on TGT. Truist Financial increased their price target on shares of Target from $90.00 to $107.00 and gave the company a "hold" rating in a research report on Wednesday, August 13th. UBS Group decreased their price target on shares of Target from $135.00 to $130.00 and set a "buy" rating for the company in a research report on Thursday, August 21st. Piper Sandler reissued a "neutral" rating on shares of Target in a research report on Tuesday, July 29th. Wolfe Research assumed coverage on shares of Target in a research report on Thursday. They issued an "underperform" rating and a $80.00 price objective for the company. Finally, Wall Street Zen raised shares of Target from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th.

Target Price Performance

Shares of TGT stock traded down $1.45 on Friday, reaching $86.68. The company's stock had a trading volume of 7,466,793 shares, compared to its average volume of 7,224,317. The stock's fifty day simple moving average is $99.10 and its 200-day simple moving average is $98.78. Target has a 1 year low of $86.30 and a 1 year high of $161.50. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $39.39 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 2.54 and a beta of 1.16.

Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, topping the consensus estimate of $2.04 by $0.01. The company had revenue of $24.99 billion during the quarter, compared to analyst estimates of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. Target's quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Analysts forecast that Target will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The firm also recently announced 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. The ex-dividend date is Wednesday, November 12th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.3%. Target's payout ratio is 53.15%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of Target by 101.3% during the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock worth $822,000 after purchasing an additional 3,059 shares during the last quarter. Vident Advisory LLC increased its position in shares of Target by 17.7% during the 4th quarter. Vident Advisory LLC now owns 3,002 shares of the retailer's stock worth $406,000 after purchasing an additional 452 shares during the last quarter. Woodline Partners LP acquired a new stake in shares of Target during the 4th quarter worth about $3,740,000. CSS LLC IL acquired a new position in Target in the 4th quarter valued at about $395,000. Finally, Focus Partners Advisor Solutions LLC grew its position in Target by 69.2% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 8,676 shares of the retailer's stock valued at $1,173,000 after acquiring an additional 3,547 shares in the last quarter. Hedge funds and other 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.