Target (NYSE:TGT) Earns Underperform Rating from Analysts at Wolfe Research

Key Points

• Wolfe Research has initiated coverage on Target (NYSE:TGT) with an "underperform" rating and a price target of $80, indicating a potential downside of 10.06% from current levels.
• Analysts' consensus ratings for Target include ten "Buy," twenty-three "Hold," and four "Sell," with an average price target of $112.69.
• In its most recent earnings report, Target posted $2.05 EPS, exceeding analysts' expectations of $2.04, while revenue declined by 0.9% compared to the same quarter last year.

Wolfe Research started coverage on shares of Target (NYSE:TGT - Free Report) in a research report report published on Thursday morning, MarketBeat.com reports. The firm issued an underperform rating and a $80.00 price target on the retailer's stock.

TGT has been the topic of several other reports. Wedbush reaffirmed an "outperform" rating on shares of Target in a research report on Thursday, July 17th. Bank of America restated an "underperform" rating and set a $93.00 price target (down previously from $105.00) on shares of Target in a report on Friday, August 15th. Barclays reissued an "underweight" rating and set a $91.00 target price on shares of Target in a research note on Monday, July 21st. BMO Capital Markets reduced their price target on Target from $100.00 to $95.00 and set a "market perform" rating on the stock in a report on Thursday, May 22nd. Finally, Evercore ISI cut their price target on Target from $108.00 to $106.00 and set an "in-line" rating for the company in a research note on Thursday, August 21st. Ten investment analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, Target currently has an average rating of "Hold" and a consensus target price of $112.69.

Target Stock Down 1.8%

Shares of Target stock traded down $1.60 on Thursday, reaching $86.53. 7,103,747 shares of the company were exchanged, compared to its average volume of 7,220,731. 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 $39.32 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 2.54 and a beta of 1.16. The company has a 50-day moving average of $99.10 and a 200 day moving average of $98.78. Target has a one year low of $86.30 and a one year high of $161.50.

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

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be given a dividend of $1.14 per share. This is an increase from Target's previous quarterly dividend of $1.12. This represents a $4.56 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Wednesday, November 12th. Target's payout ratio is 53.15%.

Institutional Trading of Target

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bernard Wealth Management Corp. acquired a new position in Target during the fourth quarter worth approximately $29,000. WFA of San Diego LLC acquired a new stake in shares of Target in the second quarter worth $25,000. Kozak & Associates Inc. lifted its position in shares of Target by 2,530.0% during the 2nd quarter. Kozak & Associates Inc. now owns 263 shares of the retailer's stock worth $27,000 after purchasing an additional 253 shares during the last quarter. Raleigh Capital Management Inc. grew its stake 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 purchasing an additional 102 shares during the period. Finally, Investment Research & Advisory Group Inc. acquired a new position in shares of Target in the 2nd quarter valued at $29,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Company Profile

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.