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 Stock Performance
Shares of TGT opened at $175.34 on Thursday. The company has a market capitalization of $81.30 billion, a PE ratio of 14.54, a P/E/G ratio of 2.01 and a beta of 1.03. Target has a 52-week low of $137.16 and a 52-week high of $268.98. The company has a 50-day simple moving average of $153.76 and a 200-day simple moving average of $190.27. The company has a quick ratio of 0.14, a current ratio of 0.87 and a debt-to-equity ratio of 1.24.
Target (NYSE:TGT - Get Rating) last released its quarterly earnings results on Wednesday, August 17th. The retailer reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates of $0.71 by ($0.32). The firm had revenue of $26.04 billion during the quarter, compared to analyst estimates of $26.07 billion. Target had a return on equity of 44.75% and a net margin of 5.48%. The business's revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.64 EPS. Equities research analysts predict that Target will post 8.43 earnings per share for the current fiscal year.
Target Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Saturday, September 10th. Shareholders of record on Wednesday, August 17th will be issued a dividend of $1.08 per share. This is an increase from Target's previous quarterly dividend of $0.90. This represents a $4.32 annualized dividend and a yield of 2.46%. The ex-dividend date is Tuesday, August 16th. Target's dividend payout ratio (DPR) is 29.85%.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on TGT shares. Royal Bank of Canada cut their price objective on Target from $239.00 to $231.00 and set an "outperform" rating on the stock in a research report on Wednesday, June 8th. Piper Sandler initiated coverage on Target in a research report on Friday, July 22nd. They set a "neutral" rating and a $190.00 price objective for the company. UBS Group reduced their target price on shares of Target from $225.00 to $205.00 and set a "buy" rating on the stock in a report on Wednesday, June 8th. DA Davidson lowered their price target on shares of Target from $205.00 to $171.00 and set a "buy" rating for the company in a report on Wednesday, June 8th. Finally, Truist Financial dropped their price objective on shares of Target from $171.00 to $150.00 and set a "hold" rating on the stock in a research report on Wednesday, June 8th. Nine analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $189.15.
Insiders Place Their Bets
In other Target news, insider John J. Mulligan sold 45,490 shares of the stock in a transaction on Friday, June 17th. The stock was sold at an average price of $139.98, for a total transaction of $6,367,690.20. Following the sale, the insider now owns 157,333 shares in the company, valued at approximately $22,023,473.34. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.29% of the stock is currently owned by company insiders.