Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials. It also provides in-store amenities, such as Target Café, Target Optical, Starbucks, and other food service offerings. The company sells its products through its stores; and digital channels, including Target.com. As of March 09, 2022, the company operated approximately 2,000 stores. Target Corporation was incorporated in 1902 and is headquartered in Minneapolis, Minnesota.
Target Price Performance
TGT opened at $180.19 on Wednesday. The stock has a 50-day moving average price of $153.39 and a 200-day moving average price of $190.37. The firm has a market cap of $83.55 billion, a PE ratio of 14.94, a P/E/G ratio of 2.00 and a beta of 1.03. Target has a 1 year low of $137.16 and a 1 year high of $268.98. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.87 and a quick ratio of 0.14.
Target (NYSE:TGT - Get Rating) last posted its quarterly earnings data on Wednesday, May 18th. The retailer reported $2.19 EPS for the quarter, missing analysts' consensus estimates of $3.00 by ($0.81). Target had a net margin of 5.48% and a return on equity of 44.75%. The firm had revenue of $24.83 billion for the quarter, compared to analysts' expectations of $24.48 billion. During the same quarter last year, the company posted $3.69 EPS. The firm's revenue was up 4.0% compared to the same quarter last year. Sell-side analysts predict that Target will post 8.43 earnings per share for the current fiscal year.
Target Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Saturday, September 10th. Investors of record on Wednesday, August 17th will be issued a $1.08 dividend. This is a boost from Target's previous quarterly dividend of $0.90. This represents a $4.32 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Tuesday, August 16th. Target's dividend payout ratio (DPR) is currently 29.85%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the company. DA Davidson lowered their price target on Target from $205.00 to $171.00 and set a "buy" rating on the stock in a research report on Wednesday, June 8th. TheStreet cut shares of Target from a "b-" rating to a "c+" rating in a research report on Friday, June 24th. Morgan Stanley cut their price objective on shares of Target from $255.00 to $190.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 8th. The Goldman Sachs Group cut their price target on shares of Target from $191.00 to $171.00 and set a "buy" rating for the company in a research report on Wednesday, June 8th. Finally, UBS Group decreased their price objective on Target from $225.00 to $205.00 and set a "buy" rating on the stock in a report on Wednesday, June 8th. Nine equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Target currently has a consensus rating of "Moderate Buy" and an average target price of $189.15.
Insider Activity at Target
In other Target news, insider John J. Mulligan sold 45,490 shares of the company's stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $139.98, for a total value of $6,367,690.20. Following the completion of the sale, the insider now owns 157,333 shares in the company, valued at $22,023,473.34. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.29% of the stock is owned by company insiders.