Telsey Advisory Group Reaffirms “Outperform” Rating for Target (NYSE:TGT)

Telsey Advisory Group restated their outperform rating on shares of Target (NYSE:TGT) in a research report report published on Thursday morning, Benzinga reports. Telsey Advisory Group currently has a $195.00 target price on the retailer’s stock.

A number of other equities analysts also recently weighed in on TGT. Jefferies Financial Group upped their price target on Target from $190.00 to $195.00 and gave the stock a buy rating in a research report on Thursday, August 22nd. Oppenheimer decreased their target price on shares of Target from $200.00 to $180.00 and set an outperform rating for the company in a research report on Wednesday, August 14th. StockNews.com upgraded shares of Target from a buy rating to a strong-buy rating in a research note on Thursday, August 22nd. Wells Fargo & Company increased their price objective on shares of Target from $160.00 to $180.00 and gave the stock an overweight rating in a research note on Thursday, August 22nd. Finally, Evercore ISI lifted their target price on Target from $158.00 to $160.00 and gave the company an inline rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $179.68.

Target Stock Down 1.1 %

Shares of TGT stock opened at $154.75 on Thursday. The company has a market capitalization of $71.59 billion, a price-to-earnings ratio of 17.37, a P/E/G ratio of 1.90 and a beta of 1.24. Target has a 12-month low of $102.93 and a 12-month high of $181.86. The firm has a fifty day moving average of $148.48 and a 200-day moving average of $154.98. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.39. The firm had revenue of $25.02 billion for the quarter, compared to the consensus estimate of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the business posted $1.80 EPS. As a group, equities research analysts predict that Target will post 9.53 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio is 50.28%.

Insiders Place Their Bets

In related news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the transaction, the insider now directly owns 303,843 shares in the company, valued at $48,210,768.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Target news, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the sale, the insider now directly owns 303,843 shares in the company, valued at $48,210,768.81. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On Target

Institutional investors and hedge funds have recently bought and sold shares of the company. Little House Capital LLC acquired a new stake in Target in the first quarter valued at about $1,041,000. Nordea Investment Management AB boosted its stake in shares of Target by 23.6% in the 1st quarter. Nordea Investment Management AB now owns 642,340 shares of the retailer’s stock valued at $112,686,000 after purchasing an additional 122,706 shares in the last quarter. QRG Capital Management Inc. grew its holdings in shares of Target by 11.4% during the 1st quarter. QRG Capital Management Inc. now owns 65,558 shares of the retailer’s stock valued at $11,618,000 after purchasing an additional 6,690 shares during the last quarter. Janney Capital Management LLC bought a new position in Target in the 1st quarter valued at approximately $13,958,000. Finally, United Services Automobile Association lifted its stake in Target by 134.6% in the 4th quarter. United Services Automobile Association now owns 103,785 shares of the retailer’s stock valued at $14,781,000 after purchasing an additional 59,553 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Company Profile

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.