Target (NYSE:TGT) Given New $166.00 Price Target at Evercore ISI

Target (NYSE:TGT) had its price target lifted by Evercore ISI from $165.00 to $166.00 in a research note released on Thursday, Benzinga reports. They currently have an in-line rating on the retailer’s stock.

TGT has been the subject of a number of other research reports. TheStreet upgraded shares of Target from a c+ rating to a b- rating in a report on Monday, March 4th. StockNews.com lowered shares of Target from a strong-buy rating to a buy rating in a research note on Thursday, May 23rd. BNP Paribas began coverage on shares of Target in a research note on Monday, June 3rd. They issued an underperform rating and a $116.00 price target on the stock. Morgan Stanley cut their price target on shares of Target from $190.00 to $180.00 and set an overweight rating on the stock in a research note on Thursday, May 23rd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Target from $209.00 to $190.00 and set a buy rating on the stock in a research note on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $177.61.

Target Stock Up 0.6 %

Shares of NYSE TGT opened at $143.39 on Thursday. The stock has a market cap of $66.34 billion, a P/E ratio of 16.09, a P/E/G ratio of 1.34 and a beta of 1.20. The firm has a 50 day moving average price of $155.15 and a 200 day moving average price of $152.56. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.27 and a current ratio of 0.86. Target has a 52-week low of $102.93 and a 52-week high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, May 22nd. The retailer reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). The firm had revenue of $24.14 billion for the quarter, compared to analyst estimates of $24.52 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.05 EPS. Analysts expect that Target will post 9.32 EPS for the current year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be given a dividend of $1.12 per share. This is a positive change from Target’s previous quarterly dividend of $1.10. This represents a $4.48 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Wednesday, August 21st. Target’s dividend payout ratio is 49.38%.

Institutional Trading of Target

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Target in the fourth quarter valued at $759,810,000. Boston Partners acquired a new position in shares of Target in the first quarter valued at $335,870,000. International Assets Investment Management LLC increased its holdings in shares of Target by 15,009.5% in the fourth quarter. International Assets Investment Management LLC now owns 1,757,088 shares of the retailer’s stock valued at $250,244,000 after purchasing an additional 1,745,459 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Target by 51,357.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,220,576 shares of the retailer’s stock valued at $173,834,000 after purchasing an additional 1,218,204 shares during the last quarter. Finally, Clearbridge Investments LLC increased its holdings in shares of Target by 58.0% in the fourth quarter. Clearbridge Investments LLC now owns 2,683,228 shares of the retailer’s stock valued at $382,145,000 after purchasing an additional 984,464 shares during the last quarter. 79.73% of the stock is owned by institutional investors.

About Target

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.