Target (TGT) PT Set at $90.00 by Credit Suisse Group

Credit Suisse Group set a $90.00 target price on Target (NYSE:TGT) in a research report report published on Thursday, Stock Target Advisor reports. The firm currently has a buy rating on the retailer’s stock.

Several other research firms also recently weighed in on TGT. Telsey Advisory Group reiterated an outperform rating and issued a $92.00 target price (up previously from $88.00) on shares of Target in a report on Thursday, April 18th. Bank of America set a $105.00 target price on shares of Target and gave the company a buy rating in a report on Thursday. UBS Group lifted their target price on shares of Target from $77.00 to $82.00 and gave the company a neutral rating in a report on Thursday. Evercore ISI assumed coverage on shares of Target in a report on Wednesday, March 20th. They issued an in-line rating and a $80.00 target price for the company. Finally, JPMorgan Chase & Co. upgraded shares of Target from a neutral rating to an overweight rating and lifted their target price for the company from $81.00 to $100.00 in a report on Thursday. They noted that the move was a valuation call. Twelve research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $89.97.

Target stock opened at $81.57 on Thursday. Target has a fifty-two week low of $60.15 and a fifty-two week high of $90.39. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.83 and a quick ratio of 0.20. The company has a market capitalization of $42.05 billion, a P/E ratio of 15.13, a P/E/G ratio of 1.97 and a beta of 0.65.

Target (NYSE:TGT) last posted its earnings results on Wednesday, May 22nd. The retailer reported $1.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.10. Target had a net margin of 3.90% and a return on equity of 25.74%. The firm had revenue of $17.63 billion during the quarter, compared to the consensus estimate of $17.49 billion. During the same quarter last year, the firm earned $1.32 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, sell-side analysts expect that Target will post 5.82 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be given a $0.64 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.56 annualized dividend and a yield of 3.14%. Target’s dividend payout ratio is presently 47.50%.

In other news, insider Janna A. Potts sold 8,759 shares of Target stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $79.00, for a total transaction of $691,961.00. Following the completion of the sale, the insider now directly owns 27,720 shares of the company’s stock, valued at approximately $2,189,880. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Cathy R. Smith sold 30,000 shares of Target stock in a transaction on Friday, March 1st. The stock was sold at an average price of $74.00, for a total transaction of $2,220,000.00. The disclosure for this sale can be found here. Insiders sold a total of 45,736 shares of company stock valued at $3,466,370 in the last three months. 0.19% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in TGT. Oregon Public Employees Retirement Fund lifted its position in shares of Target by 5,697.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 18,484,117 shares of the retailer’s stock worth $280,000 after purchasing an additional 18,165,298 shares during the last quarter. Norges Bank purchased a new stake in shares of Target during the 4th quarter worth $358,987,000. Boston Partners purchased a new stake in shares of Target during the 4th quarter worth $310,033,000. Nordea Investment Management AB lifted its position in shares of Target by 2,417.6% during the 4th quarter. Nordea Investment Management AB now owns 1,811,859 shares of the retailer’s stock worth $119,742,000 after purchasing an additional 1,739,892 shares during the last quarter. Finally, BlackRock Inc. lifted its position in shares of Target by 3.2% during the 4th quarter. BlackRock Inc. now owns 43,222,017 shares of the retailer’s stock worth $2,856,544,000 after purchasing an additional 1,334,425 shares during the last quarter. 82.48% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading: Debt-To-Equity Ratio

Analyst Recommendations for Target (NYSE:TGT)

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