Jefferies Group LLC Reiterates “Hold” Rating for Target Co. (TGT)

Target Co. (NYSE:TGT)‘s stock had its “hold” rating reiterated by investment analysts at Jefferies Group LLC in a research note issued to investors on Friday. They presently have a $59.00 target price on the retailer’s stock, up from their prior target price of $56.00. Jefferies Group LLC’s price target would suggest a potential upside of 5.68% from the company’s current price.

Several other research firms have also commented on TGT. Telsey Advisory Group lifted their price target on Target from $58.00 to $60.00 and gave the stock a “market perform” rating in a research report on Thursday. TheStreet lowered Target from a “b-” rating to a “c+” rating in a research report on Monday, March 27th. Vetr lowered Target from a “buy” rating to a “hold” rating and set a $59.51 price target for the company. in a research report on Tuesday, May 9th. Zacks Investment Research upgraded Target from a “sell” rating to a “hold” rating in a research report on Monday. Finally, Stifel Nicolaus began coverage on Target in a research report on Thursday, January 19th. They issued a “hold” rating and a $72.00 price target for the company. Six investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the stock. Target has an average rating of “Hold” and a consensus price target of $65.49.

Analyst Recommendations for Target (NYSE:TGT)

Shares of Target (NYSE:TGT) traded up 0.61% during mid-day trading on Friday, reaching $56.17. 4,174,431 shares of the company’s stock traded hands. The company’s 50-day moving average price is $55.16 and its 200-day moving average price is $64.32. The stock has a market capitalization of $30.99 billion, a PE ratio of 11.51 and a beta of 0.63. Target has a 12-month low of $52.72 and a 12-month high of $79.33.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, May 17th. The retailer reported $1.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.30. The firm had revenue of $16.02 billion during the quarter, compared to analyst estimates of $15.63 billion. Target had a return on equity of 25.18% and a net margin of 4.75%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.29 earnings per share. Analysts anticipate that Target will post $4.15 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 10th. Investors of record on Wednesday, May 17th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend is Monday, May 15th. Target’s dividend payout ratio (DPR) is 42.93%.

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In other Target news, insider Cathy R. Smith acquired 5,000 shares of Target stock in a transaction that occurred on Wednesday, March 1st. The stock was bought at an average price of $58.95 per share, with a total value of $294,750.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Donald R. Knauss acquired 10,000 shares of Target stock in a transaction that occurred on Thursday, March 9th. The stock was acquired at an average cost of $54.86 per share, with a total value of $548,600.00. Following the purchase, the director now directly owns 16,431 shares of the company’s stock, valued at $901,404.66. The disclosure for this purchase can be found here. Insiders purchased 19,000 shares of company stock valued at $1,073,750 in the last three months. 0.25% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the company. Lowe Brockenbrough & Co. Inc. increased its position in shares of Target by 5.3% in the first quarter. Lowe Brockenbrough & Co. Inc. now owns 28,559 shares of the retailer’s stock worth $1,576,000 after buying an additional 1,435 shares during the period. Financial Advisors Network Inc. increased its position in shares of Target by 1,620.0% in the first quarter. Financial Advisors Network Inc. now owns 7,723 shares of the retailer’s stock worth $429,000 after buying an additional 7,274 shares during the period. Green Square Capital LLC increased its position in shares of Target by 11.6% in the first quarter. Green Square Capital LLC now owns 72,614 shares of the retailer’s stock worth $4,008,000 after buying an additional 7,551 shares during the period. FNY Partners Fund LP acquired a new position in shares of Target during the first quarter worth approximately $275,000. Finally, Bragg Financial Advisors Inc increased its position in shares of Target by 14.9% in the first quarter. Bragg Financial Advisors Inc now owns 29,162 shares of the retailer’s stock worth $1,068,000 after buying an additional 3,785 shares during the period. 88.53% of the stock is owned by institutional investors.

Target Company Profile

Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.

5 Day Chart for NYSE:TGT

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