Target's (TGT) Market Perform Rating Reaffirmed at Telsey Advisory Group

Key Points

• Telsey Advisory Group has reiterated its "market perform" rating for Target (TGT) with a price target of $110.00, indicating a potential upside of 4.54% from the current stock price.
• Other analysts have varying opinions, with Barclays placing an "underweight" rating and a price target of $91.00, while Goldman Sachs lowered their target from $101.00 to $90.00 and maintained a "neutral" rating.
• Target's latest quarterly earnings report showed a miss on expectations with an EPS of $1.30, falling short of the consensus estimate of $1.65, and the company's revenue decreased 2.8% year-over-year.

Telsey Advisory Group reaffirmed their market perform rating on shares of Target (NYSE:TGT - Free Report) in a report published on Thursday morning,Benzinga reports. The brokerage currently has a $110.00 price objective on the retailer's stock.

A number of other equities research analysts have also recently commented on TGT. Morgan Stanley lowered their price objective on shares of Target from $160.00 to $112.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. BMO Capital Markets lowered their price objective on shares of Target from $100.00 to $95.00 and set a "market perform" rating on the stock in a research note on Thursday, May 22nd. Wells Fargo & Company lowered their price objective on shares of Target from $135.00 to $115.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. Royal Bank Of Canada lowered their price objective on shares of Target from $112.00 to $103.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. Finally, Piper Sandler reissued a "neutral" rating on shares of Target in a research note on Tuesday, July 29th. Ten investment analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $115.42.

Target Price Performance

Shares of NYSE:TGT traded up $0.3550 on Thursday, reaching $105.3050. 3,087,372 shares of the company were exchanged, compared to its average volume of 6,877,641. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.96. Target has a 1-year low of $87.35 and a 1-year high of $167.40. The firm has a market cap of $47.85 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 2.98 and a beta of 1.22. The company has a 50-day moving average of $101.92 and a 200-day moving average of $104.39.

Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share for the quarter, missing analysts' consensus estimates of $1.65 by ($0.35). Target had a return on equity of 25.59% and a net margin of 3.95%.The company had revenue of $24.20 billion for the quarter, compared to analyst estimates of $24.54 billion. During the same period last year, the company earned $2.03 earnings per share. The business's revenue for the quarter was down 2.8% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Equities analysts forecast that Target will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be issued a $1.12 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $4.48 annualized dividend and a yield of 4.3%. Target's dividend payout ratio (DPR) is presently 50.11%.

Insider Transactions at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total value of $4,328,100.00. Following the completion of the sale, the insider owned 246,453 shares of the company's stock, valued at $23,703,849.54. This trade represents a 15.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is owned by company insiders.

Hedge Funds Weigh In On Target

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Target by 14.7% during the second quarter. Vanguard Group Inc. now owns 51,444,338 shares of the retailer's stock valued at $5,074,984,000 after acquiring an additional 6,607,982 shares during the period. State Street Corp boosted its holdings in shares of Target by 4.3% during the second quarter. State Street Corp now owns 36,736,101 shares of the retailer's stock valued at $3,624,016,000 after acquiring an additional 1,529,026 shares during the period. Capital World Investors boosted its holdings in shares of Target by 6.3% during the fourth quarter. Capital World Investors now owns 21,930,569 shares of the retailer's stock valued at $2,964,565,000 after acquiring an additional 1,306,552 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Target by 1.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 16,247,590 shares of the retailer's stock valued at $1,602,825,000 after acquiring an additional 277,176 shares during the period. Finally, Kingstone Capital Partners Texas LLC acquired a new position in shares of Target during the second quarter valued at $595,839,000. Institutional investors and hedge funds 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.