Target (NYSE:TGT) Earns Outperform Rating from Oppenheimer

by · The Cerbat Gem

Oppenheimer reissued their outperform rating on shares of Target (NYSE:TGT – Free Report) in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a $165.00 price objective on the retailer’s stock.

TGT has been the topic of a number of other reports. Hsbc Global Res cut Target from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. dropped their price objective on Target from $167.00 to $139.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. Guggenheim decreased their target price on Target from $180.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Citigroup lowered Target from a “buy” rating to a “neutral” rating and decreased their target price for the company from $188.00 to $130.00 in a research report on Wednesday, November 20th. Finally, Melius Research assumed coverage on Target in a report on Monday, September 23rd. They issued a “buy” rating and a $180.00 price objective for the company. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $160.30.

Read Our Latest Stock Analysis on Target

Target Stock Performance

NYSE:TGT opened at $130.09 on Monday. The company has a market capitalization of $59.93 billion, a PE ratio of 13.80, a P/E/G ratio of 2.14 and a beta of 1.24. The company has a 50 day simple moving average of $149.31 and a two-hundred day simple moving average of $148.78. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. Target has a fifty-two week low of $120.21 and a fifty-two week high of $181.86.

Target (NYSE:TGT – Get Free Report) last posted its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The business had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Target’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.10 earnings per share. Research analysts anticipate that Target will post 8.6 earnings per share for the current year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given a $1.12 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a yield of 3.44%. Target’s payout ratio is 47.51%.

Insider Buying and Selling

In other Target news, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the transaction, the insider now directly owns 123,551 shares of the company’s stock, valued at $19,418,510.67. The trade was a 4.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Target

Large investors have recently bought and sold shares of the stock. Janus Henderson Group PLC increased its holdings in shares of Target by 20.5% during the first quarter. Janus Henderson Group PLC now owns 217,214 shares of the retailer’s stock valued at $38,484,000 after acquiring an additional 36,941 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in shares of Target by 53.2% during the first quarter. B. Riley Wealth Advisors Inc. now owns 15,612 shares of the retailer’s stock valued at $2,767,000 after acquiring an additional 5,422 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of Target by 1.0% during the first quarter. California State Teachers Retirement System now owns 761,692 shares of the retailer’s stock valued at $134,979,000 after acquiring an additional 7,258 shares in the last quarter. Comerica Bank increased its holdings in shares of Target by 2.8% during the first quarter. Comerica Bank now owns 329,689 shares of the retailer’s stock valued at $58,424,000 after acquiring an additional 8,838 shares in the last quarter. Finally, LBP AM SA increased its holdings in shares of Target by 46.7% during the first quarter. LBP AM SA now owns 21,895 shares of the retailer’s stock valued at $3,880,000 after acquiring an additional 6,969 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Company Profile

(Get Free Report)

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.

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