Target (NYSE:TGT) Reaches New 1-Year High on Analyst Upgrade

Key Points

• Target shares reached a new 52-week high of $150.07 after Sanford C. Bernstein raised its price target from $124 to $135, although it maintained a market perform rating.
• Analyst sentiment has improved, with several firms upgrading Target or raising price targets, but the overall consensus remains a “Hold” with a $133.74 target price.
• Target reported stronger-than-expected quarterly results, including $1.71 in adjusted earnings per share and $25.44 billion in revenue, while increasing its quarterly dividend to $1.16 per share.

Shares of Target Corporation (NYSE:TGT - Get Free Report) hit a new 52-week high on Monday after Sanford C. Bernstein raised their price target on the stock from $124.00 to $135.00. Sanford C. Bernstein currently has a market perform rating on the stock. Target traded as high as $150.07 and last traded at $148.4060, with a volume of 463313 shares. The stock had previously closed at $144.49.

A number of other research firms have also recently issued reports on TGT. Zacks Research raised shares of Target from a "hold" rating to a "strong-buy" rating in a report on Monday, July 13th. Weiss Ratings reissued a "hold (c)" rating on shares of Target in a report on Monday, May 4th. Telsey Advisory Group upped their target price on Target from $148.00 to $150.00 and gave the company an "outperform" rating in a research report on Thursday, May 21st. Wells Fargo & Company raised their target price on Target from $140.00 to $165.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Wolfe Research raised Target from a "peer perform" rating to an "outperform" rating and set a $162.00 price target for the company in a research report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seventeen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $133.74.

Insider Buying and Selling

In other Target news, insider Cara A. Sylvester sold 10,000 shares of Target stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $125.89, for a total transaction of $1,258,900.00. Following the completion of the transaction, the insider owned 45,930 shares in the company, valued at approximately $5,782,127.70. This trade represents a 17.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.13% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TGT. WFA of San Diego LLC acquired a new position in shares of Target in the 2nd quarter valued at $25,000. Jessup Wealth Management Inc purchased a new position in Target in the fourth quarter valued at $25,000. Altshuler Shaham Ltd acquired a new position in shares of Target in the fourth quarter worth about $26,000. Capital Advisors Ltd. LLC raised its position in shares of Target by 245.6% in the first quarter. Capital Advisors Ltd. LLC now owns 273 shares of the retailer's stock worth $33,000 after acquiring an additional 194 shares during the period. Finally, Valued Wealth Advisors LLC boosted its stake in shares of Target by 134.9% during the 1st quarter. Valued Wealth Advisors LLC now owns 296 shares of the retailer's stock worth $36,000 after acquiring an additional 170 shares in the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Stock Performance

The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.30 and a current ratio of 0.93. The firm has a market capitalization of $67.57 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 2.83 and a beta of 0.98. The firm's 50 day moving average price is $132.87 and its 200-day moving average price is $123.30.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.24. The firm had revenue of $25.44 billion during the quarter, compared to analyst estimates of $24.66 billion. Target had a return on equity of 22.92% and a net margin of 3.24%.Target's revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.30 EPS. Target has set its FY 2026 guidance at 7.500-8.500 EPS. On average, research analysts expect that Target Corporation will post 8.32 EPS for the current year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 12th will be paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Wednesday, August 12th. This is a positive change from Target's previous quarterly dividend of $1.14. Target's dividend payout ratio is currently 61.29%.

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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