Target (NYSE:TGT) Research Coverage Started at Melius Research

Investment analysts at Melius Research began coverage on shares of Target (NYSE:TGT) in a report issued on Monday, Benzinga reports. The brokerage set a “buy” rating and a $180.00 price target on the retailer’s stock. Melius Research’s target price suggests a potential upside of 15.85% from the stock’s current price.

Several other analysts have also recently commented on the stock. Piper Sandler assumed coverage on shares of Target in a report on Wednesday, July 10th. They set a “neutral” rating and a $156.00 price target for the company. Wells Fargo & Company lifted their price target on Target from $160.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Oppenheimer lowered their price objective on shares of Target from $200.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. UBS Group increased their target price on shares of Target from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Finally, Evercore ISI raised their price target on shares of Target from $158.00 to $160.00 and gave the stock an “inline” rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $179.69.

Target Trading Up 0.4 %

NYSE TGT traded up $0.63 on Monday, hitting $155.38. 1,116,564 shares of the stock were exchanged, compared to its average volume of 4,026,583. The company’s 50-day moving average price is $148.48 and its two-hundred day moving average price is $154.85. The company has a market capitalization of $71.88 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 1.90 and a beta of 1.24. Target has a 52-week low of $102.93 and a 52-week high of $181.86. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27.

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

Insider Buying and Selling at Target

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

Large investors have recently added to or reduced their stakes in the company. Triad Wealth Partners LLC purchased a new position in shares of Target in the second quarter worth about $25,000. Washington Trust Advisors Inc. raised its stake in shares of Target by 56.1% during the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after acquiring an additional 64 shares in the last quarter. Slocum Gordon & Co LLP bought a new stake in shares of Target in the 2nd quarter worth approximately $28,000. Retirement Group LLC boosted its stake in shares of Target by 85.0% in the 1st quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock valued at $35,000 after purchasing an additional 91 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in shares of Target in the fourth quarter worth $28,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

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.