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 Trading Up 0.5 %
Shares of NYSE:TGT opened at $173.39 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.14 and a debt-to-equity ratio of 1.24. Target has a 12-month low of $137.16 and a 12-month high of $268.98. The business has a 50 day moving average of $152.90 and a two-hundred day moving average of $190.64. The company has a market capitalization of $80.40 billion, a PE ratio of 14.38, a PEG ratio of 2.00 and a beta of 1.03.
Target (NYSE:TGT - Get Rating) last announced its quarterly earnings results on Wednesday, May 18th. The retailer reported $2.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.00 by ($0.81). Target had a return on equity of 44.75% and a net margin of 5.48%. The firm had revenue of $24.83 billion for the quarter, compared to analysts' expectations of $24.48 billion. During the same period last year, the company posted $3.69 earnings per share. The business's quarterly revenue was up 4.0% on a year-over-year basis. As a group, analysts forecast that Target will post 8.43 EPS for the current year.
Target Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, September 10th. Shareholders of record on Wednesday, August 17th will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Tuesday, August 16th. 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 2.49%. Target's dividend payout ratio is currently 29.85%.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the stock. Truist Financial dropped their target price on shares of Target from $171.00 to $150.00 and set a "hold" rating on the stock in a report on Wednesday, June 8th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Target from $227.00 to $198.00 and set a "buy" rating for the company in a research note on Wednesday, June 8th. Credit Suisse Group dropped their target price on Target from $286.00 to $180.00 and set an "outperform" rating on the stock in a research report on Monday, May 23rd. Bank of America cut Target from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $235.00 to $165.00 in a research note on Wednesday, June 8th. Finally, Stifel Nicolaus lowered Target from a "buy" rating to a "hold" rating and cut their target price for the company from $270.00 to $185.00 in a research note on Wednesday, May 18th. Nine investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $189.15.
Insider Activity
In other Target news, insider John J. Mulligan sold 45,490 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 157,333 shares in the company, valued at approximately $22,023,473.34. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.29% of the company's stock.