Sanford C. Bernstein Initiates Coverage on Target (NYSE:TGT)

Equities researchers at Sanford C. Bernstein began coverage on shares of Target (NYSE:TGT) in a report released on Tuesday, Marketbeat reports. The firm set a “market perform” rating and a $168.00 price target on the retailer’s stock. Sanford C. Bernstein’s price target would suggest a potential upside of 13.48% from the company’s previous close.

TGT has been the topic of a number of other reports. Truist Financial increased their target price on shares of Target from $156.00 to $162.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Morgan Stanley reiterated an “overweight” rating and issued a $180.00 price objective on shares of Target in a research note on Wednesday, August 21st. Roth Mkm boosted their target price on Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. Wells Fargo & Company increased their price target on Target from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Finally, Oppenheimer lowered their price objective on Target from $200.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Target currently has an average rating of “Moderate Buy” and a consensus target price of $179.47.

Target Stock Down 0.8 %

NYSE:TGT opened at $148.04 on Tuesday. Target has a 52 week low of $105.23 and a 52 week high of $181.86. The stock’s fifty day moving average is $153.07 and its two-hundred day moving average is $152.23. The stock has a market capitalization of $68.49 billion, a price-to-earnings ratio of 16.62, a price-to-earnings-growth ratio of 1.99 and a beta of 1.24. 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 posted its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.39. The firm had revenue of $25.02 billion for the quarter, compared to analyst estimates of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. Target’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.80 EPS. Research analysts anticipate that Target will post 9.53 EPS for the current year.

Insider Activity at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Target news, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction that occurred 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 sale, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,348 shares of company stock worth $8,290,995 in the last quarter. Company insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP increased its holdings in Target by 864.4% in the fourth quarter. Wellington Management Group LLP now owns 57,613 shares of the retailer’s stock valued at $8,205,000 after buying an additional 51,639 shares in the last quarter. Annex Advisory Services LLC acquired a new position in Target during the first quarter worth $200,000. RMR Wealth Builders purchased a new stake in Target during the first quarter worth $245,000. Brookstone Capital Management grew its holdings in Target by 27.8% in the first quarter. Brookstone Capital Management now owns 13,802 shares of the retailer’s stock valued at $2,446,000 after purchasing an additional 2,999 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Target in the first quarter valued at $96,000. Institutional investors and hedge funds 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.