Target Co. (NYSE:TGT – Get Rating) – Analysts at DA Davidson cut their Q2 2023 EPS estimates for Target in a note issued to investors on Wednesday, June 8th. DA Davidson analyst M. Baker now anticipates that the retailer will post earnings per share of $0.71 for the quarter, down from their previous forecast of $2.18. DA Davidson currently has a “Buy” rating and a $171.00 target price on the stock. DA Davidson also issued estimates for Target’s FY2023 earnings at $8.68 EPS and FY2024 earnings at $11.38 EPS.

Target (NYSE:TGT – Get Rating) last issued its earnings results on Wednesday, May 18th. The retailer reported $2.19 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.88). The company had revenue of $24.83 billion during the quarter, compared to the consensus estimate of $24.48 billion. Target had a return on equity of 44.75% and a net margin of 5.48%. Target’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.69 earnings per share.

TGT has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Target from $227.00 to $198.00 and set a “buy” rating on the stock in a research note on Wednesday. Stifel Nicolaus cut shares of Target from a “buy” rating to a “hold” rating and lowered their price target for the stock from $270.00 to $185.00 in a research report on Wednesday, May 18th. Credit Suisse Group lowered their price target on shares of Target from $286.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, May 23rd. Royal Bank of Canada lowered their price target on shares of Target from $239.00 to $231.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Cowen lowered their price target on shares of Target from $265.00 to $190.00 and set an “outperform” rating for the company in a research report on Thursday, May 19th. Ten equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Target currently has a consensus rating of “Buy” and a consensus target price of $198.78.

Shares of TGT stock opened at $154.55 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.87 and a quick ratio of 0.14. The company has a market capitalization of $71.66 billion, a P/E ratio of 12.82, a P/E/G ratio of 1.09 and a beta of 0.96. The company’s 50-day simple moving average is $205.29 and its two-hundred day simple moving average is $216.50. Target has a one year low of $145.51 and a one year high of $268.98.

Hedge funds and other institutional investors have recently made changes to their positions in the company. CIBC World Markets Inc. grew its position in shares of Target by 0.5% in the fourth quarter. CIBC World Markets Inc. now owns 23,884 shares of the retailer’s stock valued at $5,528,000 after purchasing an additional 121 shares during the period. FDx Advisors Inc. lifted its stake in shares of Target by 12.9% in the fourth quarter. FDx Advisors Inc. now owns 22,374 shares of the retailer’s stock worth $5,178,000 after buying an additional 2,549 shares in the last quarter. London Co. of Virginia lifted its stake in shares of Target by 2.6% in the third quarter. London Co. of Virginia now owns 1,694,201 shares of the retailer’s stock worth $387,582,000 after buying an additional 42,365 shares in the last quarter. Strategy Asset Managers LLC lifted its stake in shares of Target by 10.5% in the third quarter. Strategy Asset Managers LLC now owns 34,259 shares of the retailer’s stock worth $7,838,000 after buying an additional 3,244 shares in the last quarter. Finally, Vigilare Wealth Management lifted its stake in shares of Target by 14.3% in the fourth quarter. Vigilare Wealth Management now owns 5,736 shares of the retailer’s stock worth $1,328,000 after buying an additional 717 shares in the last quarter. Institutional investors and hedge funds own 81.83% of the company’s stock.

In related news, insider Michael J. Fiddelke sold 5,000 shares of the firm’s stock in a transaction on Monday, April 4th. The shares were sold at an average price of $210.19, for a total transaction of $1,050,950.00. Following the sale, the insider now owns 31,130 shares in the company, valued at $6,543,214.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Robert M. Harrison sold 2,080 shares of Target stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $217.87, for a total transaction of $453,169.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 99,363 shares of company stock worth $21,970,253. 0.29% of the stock is owned by company insiders.

The company also recently declared a quarterly dividend, which will be paid on Saturday, September 10th. Investors of record on Wednesday, August 17th will be given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 2.80%. This is a positive change from Target’s previous quarterly dividend of $0.90. Target’s dividend payout ratio (DPR) is currently 29.85%.

Target Company Profile (Get Rating)

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

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