Target (NYSE:TGT) Price Target Increased to $120.00 by Analysts at Morgan Stanley

Target (NYSE:TGT) had its price objective lifted by Morgan Stanley from $105.00 to $120.00 in a research report released on Friday, BenzingaRatingsTable reports. The brokerage currently has an equal weight rating on the retailer’s stock.

Several other research firms have also weighed in on TGT. BMO Capital Markets restated a buy rating and set a $125.00 price target on shares of Target in a research report on Wednesday. Nomura Instinet increased their target price on shares of Target from $121.00 to $135.00 and gave the company a buy rating in a research report on Thursday. Nomura Securities reaffirmed a buy rating and issued a $131.00 price target on shares of Target in a report on Monday, March 23rd. Robert W. Baird increased their price objective on Target from $120.00 to $135.00 and gave the company an outperform rating in a report on Thursday. Finally, Stifel Nicolaus raised their target price on Target from $120.00 to $125.00 and gave the stock a hold rating in a research report on Thursday. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. Target has an average rating of Buy and an average price target of $128.21.

Shares of NYSE TGT traded down $1.19 during midday trading on Friday, reaching $117.49. The company’s stock had a trading volume of 4,835,356 shares, compared to its average volume of 5,780,963. The stock has a market capitalization of $59.32 billion, a P/E ratio of 21.76, a PEG ratio of 4.03 and a beta of 0.75. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.01 and a quick ratio of 0.27. The firm has a 50 day moving average price of $109.72 and a 200-day moving average price of $114.20. Target has a 12-month low of $76.86 and a 12-month high of $130.24.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, May 20th. The retailer reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.19. Target had a return on equity of 24.17% and a net margin of 3.46%. The business had revenue of $19.37 billion for the quarter, compared to analysts’ expectations of $19.04 billion. During the same quarter in the previous year, the firm earned $1.53 earnings per share. The business’s revenue was up 11.3% on a year-over-year basis. On average, equities analysts predict that Target will post 4.62 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Tuesday, May 19th. Target’s dividend payout ratio (DPR) is presently 41.31%.

In other Target news, CAO Robert M. Harrison sold 464 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $107.67, for a total value of $49,958.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brian C. Cornell sold 110,000 shares of Target stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $120.00, for a total value of $13,200,000.00. Following the sale, the insider now owns 208,502 shares of the company’s stock, valued at approximately $25,020,240. The disclosure for this sale can be found here. Insiders sold a total of 111,095 shares of company stock worth $13,314,321 over the last quarter. Corporate insiders own 0.24% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Adell Harriman & Carpenter Inc. grew its stake in Target by 38.0% in the 4th quarter. Adell Harriman & Carpenter Inc. now owns 33,765 shares of the retailer’s stock worth $4,329,000 after buying an additional 9,290 shares in the last quarter. B. Riley Wealth Management Inc. lifted its holdings in shares of Target by 8.1% during the 4th quarter. B. Riley Wealth Management Inc. now owns 3,046 shares of the retailer’s stock worth $390,000 after acquiring an additional 229 shares during the last quarter. IBM Retirement Fund lifted its holdings in shares of Target by 47.3% during the 1st quarter. IBM Retirement Fund now owns 13,564 shares of the retailer’s stock worth $1,261,000 after acquiring an additional 4,357 shares during the last quarter. HighMark Wealth Management LLC purchased a new position in Target in the fourth quarter worth $41,000. Finally, Corient Capital Partners LLC increased its stake in Target by 1.2% in the fourth quarter. Corient Capital Partners LLC now owns 7,889 shares of the retailer’s stock valued at $1,012,000 after acquiring an additional 95 shares during the last quarter. Institutional investors own 80.49% of the company’s stock.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.

Read More: What does an outperform rating mean?

Analyst Recommendations for Target (NYSE:TGT)

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