Target (NYSE:TGT) Trading 2.9% Higher - Here's Why

Target Co. (NYSE:TGT - Get Free Report) shares traded up 2.9% on Friday . The stock traded as high as $93.54 and last traded at $93.13. 5,347,533 shares traded hands during mid-day trading, a decline of 4% from the average session volume of 5,598,467 shares. The stock had previously closed at $90.46.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Guggenheim boosted their target price on shares of Target from $145.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday, January 22nd. UBS Group reduced their target price on shares of Target from $170.00 to $155.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th. Evercore ISI reduced their price objective on Target from $130.00 to $120.00 and set an "in-line" rating for the company in a research report on Tuesday, April 1st. DA Davidson cut their target price on Target from $153.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th. Finally, KGI Securities set a $132.00 price target on shares of Target in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, twenty-two have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $132.37.

Target Trading Up 0.3 %

The firm has a market capitalization of $42.86 billion, a P/E ratio of 9.98, a PEG ratio of 1.94 and a beta of 1.28. The business has a 50 day moving average of $108.31 and a 200-day moving average of $129.18. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.17. The firm had revenue of $30.92 billion for the quarter, compared to the consensus estimate of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Analysts anticipate that Target Co. will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be paid a $1.12 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $4.48 annualized dividend and a yield of 4.76%. Target's dividend payout ratio (DPR) is presently 50.56%.

Institutional Investors Weigh In On Target

A number of institutional investors have recently modified their holdings of the business. Capital World Investors boosted its holdings in Target by 6.3% in the 4th quarter. Capital World Investors now owns 21,930,569 shares of the retailer's stock valued at $2,964,565,000 after purchasing an additional 1,306,552 shares during the period. FMR LLC raised its holdings in Target by 13.6% in the 4th quarter. FMR LLC now owns 11,338,729 shares of the retailer's stock valued at $1,532,769,000 after acquiring an additional 1,358,348 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Target by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 9,885,015 shares of the retailer's stock worth $1,332,317,000 after purchasing an additional 470,990 shares in the last quarter. Norges Bank bought a new position in shares of Target in the fourth quarter worth $757,892,000. Finally, Northern Trust Corp raised its stake in Target by 16.3% in the fourth quarter. Northern Trust Corp now owns 5,376,640 shares of the retailer's stock valued at $726,814,000 after purchasing an additional 754,883 shares in the last quarter. Institutional investors 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.