Telsey Advisory Group Reaffirms "Market Perform" Rating for Target (NYSE:TGT)

Key Points

• Telsey Advisory Group has maintained a "Market Perform" rating for Target (NYSE:TGT) with a price target of $110.00, indicating a potential upside of 4.32% from the current stock price.
• Target's latest earnings report showed a quarterly EPS of $2.05, slightly exceeding analyst expectations, though revenue fell by 0.9% year-over-year.
• Institutional investors currently hold 79.73% of Target's stock, with several significant stakeholders increasing their positions in the second quarter.

Target (NYSE:TGT - Get Free Report)'s stock had its "market perform" rating restated by Telsey Advisory Group in a research note issued on Wednesday,Benzinga reports. They presently have a $110.00 price target on the retailer's stock. Telsey Advisory Group's price target suggests a potential upside of 4.32% from the stock's current price.

TGT has been the topic of a number of other reports. Loop Capital set a $95.00 price objective on Target in a research report on Thursday, July 17th. Piper Sandler reaffirmed a "neutral" rating on shares of Target in a research report on Tuesday, July 29th. Mizuho lowered their price objective on Target from $92.00 to $88.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Wedbush reaffirmed an "outperform" rating on shares of Target in a research report on Thursday, July 17th. Finally, Bank of America reaffirmed an "underperform" rating and set a $93.00 price objective (down from $105.00) on shares of Target in a research report on Friday, August 15th. Ten research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Target presently has an average rating of "Hold" and a consensus target price of $115.42.

Target Trading Up 0.5%

Shares of NYSE:TGT opened at $105.4440 on Wednesday. The stock has a market capitalization of $47.91 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 3.03 and a beta of 1.22. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.25 and a current ratio of 0.94. The stock's 50-day simple moving average is $102.02 and its two-hundred day simple moving average is $104.40. Target has a 52-week low of $87.35 and a 52-week high of $167.40.

Target (NYSE:TGT - Get Free Report) last announced its earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.01. The business had revenue of $24.99 billion for the quarter, compared to analysts' expectations of $24.84 billion. Target had a return on equity of 25.59% and a net margin of 3.95%.The business's revenue for the quarter was down .9% on a year-over-year basis. During the same period last year, the firm posted $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Analysts expect that Target will post 8.69 EPS for the current year.

Insider Transactions at Target

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

Institutional Trading of Target

A number of large investors have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. bought a new stake in Target in the 2nd quarter worth approximately $682,000. Marex Group plc bought a new stake in Target in the 2nd quarter worth approximately $1,598,000. Advisory Services Network LLC increased its stake in Target by 17.1% in the 2nd quarter. Advisory Services Network LLC now owns 21,771 shares of the retailer's stock worth $2,188,000 after acquiring an additional 3,179 shares during the last quarter. State of Wyoming increased its stake in Target by 16,257.1% in the 2nd quarter. State of Wyoming now owns 1,145 shares of the retailer's stock worth $113,000 after acquiring an additional 1,138 shares during the last quarter. Finally, Asset Dedication LLC increased its stake in Target by 226.1% in the 2nd quarter. Asset Dedication LLC now owns 4,418 shares of the retailer's stock worth $436,000 after acquiring an additional 3,063 shares during 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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