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 Down 0.0 %
TGT opened at $169.60 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.87 and a quick ratio of 0.14. The stock has a market capitalization of $78.64 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 1.90 and a beta of 1.03. The business has a 50-day moving average of $152.23 and a two-hundred day moving average of $191.70. Target has a 12 month low of $137.16 and a 12 month high of $268.98.
Target (NYSE:TGT - Get Rating) last posted its quarterly earnings results on Wednesday, May 18th. The retailer reported $2.19 EPS for the quarter, missing the consensus estimate of $3.00 by ($0.81). Target had a net margin of 5.48% and a return on equity of 44.75%. The business had revenue of $24.83 billion during the quarter, compared to analysts' expectations of $24.48 billion. During the same quarter last year, the firm earned $3.69 EPS. The firm's quarterly revenue was up 4.0% compared to the same quarter last year. On average, research analysts expect that Target will post 8.48 earnings per share for the current year.
Target Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Saturday, September 10th. Stockholders of record on Wednesday, August 17th will be issued a dividend of $1.08 per share. The ex-dividend date of this dividend is Tuesday, August 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.55%. This is a boost from Target's previous quarterly dividend of $0.90. Target's payout ratio is presently 29.85%.
Analyst Ratings Changes
TGT has been the subject of several recent research reports. Morgan Stanley decreased their price target on Target from $255.00 to $190.00 and set an "equal weight" rating for the company in a report on Wednesday, June 8th. Citigroup decreased their price target on Target from $188.00 to $184.00 and set a "buy" rating for the company in a report on Wednesday, June 8th. Truist Financial reduced their target price on Target from $171.00 to $150.00 and set a "hold" rating for the company in a report on Wednesday, June 8th. Telsey Advisory Group reduced their target price on Target from $200.00 to $185.00 and set an "outperform" rating for the company in a report on Wednesday, June 8th. Finally, Jefferies Financial Group reduced their target price on Target from $252.00 to $168.00 and set a "hold" rating for the company in a report on Thursday, May 19th. Nine equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $189.15.
Insider Transactions at Target
In other news, insider John J. Mulligan sold 45,490 shares of the business's stock in a transaction dated 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 owns 157,333 shares in the company, valued at approximately $22,023,473.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.29% of the company's stock.