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.
Wall Street Analyst Weigh In
Several analysts recently commented on the company. The Goldman Sachs Group decreased their price target on Target from $191.00 to $171.00 and set a "buy" rating on the stock in a research note on Wednesday, June 8th. Gordon Haskett decreased their price target on Target from $300.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, May 19th. Truist Financial decreased their price target on Target from $171.00 to $150.00 and set a "hold" rating on the stock in a research note on Wednesday, June 8th. UBS Group decreased their price target on Target from $225.00 to $205.00 and set a "buy" rating on the stock in a research note on Wednesday, June 8th. Finally, TheStreet lowered Target from a "b-" rating to a "c+" rating in a research note on Friday, June 24th. Nine 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 data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $189.15.
Target Trading Up 0.6 %
NYSE:TGT traded up $1.04 on Monday, reaching $173.52. The company had a trading volume of 66,264 shares, compared to its average volume of 4,917,400. The stock's 50 day moving average is $152.63 and its 200-day moving average is $190.91. The stock has a market cap of $80.46 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 2.00 and a beta of 1.03. 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 has a 52 week low of $137.16 and a 52 week high of $268.98.
Target (NYSE:TGT - Get Rating) last released 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). The company had revenue of $24.83 billion during the quarter, compared to the consensus estimate of $24.48 billion. Target had a net margin of 5.48% and a return on equity of 44.75%. The company's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.69 EPS. Equities analysts predict that Target will post 8.43 earnings per share for the current year.
Target Increases Dividend
The business also recently disclosed 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 represents a $4.32 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Tuesday, August 16th. This is an increase from Target's previous quarterly dividend of $0.90. Target's dividend payout ratio is currently 29.85%.
Insider Buying and Selling at Target
In other Target 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 value of $6,367,690.20. Following the completion of the transaction, the insider now directly owns 157,333 shares of the company's stock, valued at $22,023,473.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.29% of the company's stock.