Target (NYSE:TGT) Earns Buy Rating from Analysts at Goldman Sachs Group

Goldman Sachs Group started coverage on shares of Target (NYSE:TGT) in a research note issued to investors on Thursday morning, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $102.00 target price on the retailer’s stock.

TGT has been the subject of several other reports. Gordon Haskett raised shares of Darden Restaurants from an underperform rating to a hold rating in a report on Thursday, March 21st. Telsey Advisory Group reissued a market perform rating and issued a $64.00 price target (up previously from $58.00) on shares of Las Vegas Sands in a report on Thursday, April 18th. JPMorgan Chase & Co. cut their price target on shares of National Grid from GBX 1,000 ($13.07) to GBX 960 ($12.54) and set an overweight rating for the company in a report on Thursday, May 23rd. Sanford C. Bernstein set a €87.00 ($101.16) price target on shares of Henkel AG & Co KGaA and gave the stock a neutral rating in a report on Friday, May 3rd. Finally, Citigroup lowered shares of Barrick Gold to a neutral rating in a report on Thursday, May 23rd. Twelve analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $89.83.

NYSE:TGT opened at $87.53 on Thursday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.19 and a current ratio of 0.88. The stock has a market cap of $44.30 billion, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 2.06 and a beta of 0.60. The company’s 50 day moving average price is $85.82. Target has a 1-year low of $60.15 and a 1-year high of $90.39.

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 consensus estimate of $1.43 by $0.10. The firm had revenue of $17.63 billion during the quarter, compared to analyst estimates of $17.49 billion. Target had a net margin of 3.96% and a return on equity of 26.48%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.32 EPS. As a group, equities research analysts forecast that Target will post 5.92 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be given a dividend of $0.66 per share. This is a boost from Target’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $2.64 annualized dividend and a dividend yield of 3.02%. Target’s payout ratio is presently 47.50%.

In other news, Director Roxanne S. Austin sold 4,163 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $89.00, for a total transaction of $370,507.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Janna A. Potts sold 8,759 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $79.00, for a total transaction of $691,961.00. Following the transaction, the insider now directly owns 27,720 shares in the company, valued at approximately $2,189,880. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,180 shares of company stock worth $2,854,650. Corporate insiders own 0.19% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Altman Advisors Inc. lifted its position in Target by 0.6% in the second quarter. Altman Advisors Inc. now owns 30,656 shares of the retailer’s stock valued at $2,655,000 after buying an additional 189 shares during the last quarter. Community Bank & Trust Waco Texas lifted its position in Target by 8.7% in the second quarter. Community Bank & Trust Waco Texas now owns 8,522 shares of the retailer’s stock valued at $738,000 after buying an additional 681 shares during the last quarter. Diversified Trust Co lifted its position in Target by 189.5% in the second quarter. Diversified Trust Co now owns 18,372 shares of the retailer’s stock valued at $1,591,000 after buying an additional 12,025 shares during the last quarter. Stock Yards Bank & Trust Co. lifted its position in Target by 9.2% in the second quarter. Stock Yards Bank & Trust Co. now owns 13,693 shares of the retailer’s stock valued at $1,186,000 after buying an additional 1,158 shares during the last quarter. Finally, Ipswich Investment Management Co. Inc. lifted its position in Target by 9.1% in the second quarter. Ipswich Investment Management Co. Inc. now owns 11,340 shares of the retailer’s stock valued at $982,000 after buying an additional 950 shares during the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for Target (NYSE:TGT)

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