Target (NYSE:TGT) Lowered to Hold Rating by StockNews.com

StockNews.com lowered shares of Target (NYSE:TGT) from a buy rating to a hold rating in a research report released on Friday morning.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. dropped their target price on Target from $167.00 to $139.00 and set a “neutral” rating for the company in a report on Thursday, November 21st. Truist Financial lifted their target price on Target from $129.00 to $134.00 and gave the stock a “hold” rating in a report on Friday, January 17th. Evercore ISI dropped their target price on Target from $165.00 to $130.00 and set an “in-line” rating for the company in a report on Thursday, November 21st. Hsbc Global Res downgraded Target from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Citigroup boosted their price target on Target from $130.00 to $133.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $157.70.

Target Trading Down 0.6 %

TGT stock opened at $127.86 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The company has a fifty day moving average price of $135.20 and a two-hundred day moving average price of $143.34. Target has a one year low of $120.21 and a one year high of $181.86. The stock has a market cap of $58.58 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 2.04 and a beta of 1.15.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a return on equity of 31.11% and a net margin of 4.06%. The company had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. During the same period last year, the firm earned $2.10 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Equities analysts anticipate that Target will post 8.69 EPS for the current year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend is Wednesday, February 12th. Target’s payout ratio is 47.51%.

Hedge Funds Weigh In On Target

A number of institutional investors have recently modified their holdings of TGT. Legacy Investment Solutions LLC acquired a new position in shares of Target during the third quarter worth approximately $28,000. Hopwood Financial Services Inc. purchased a new stake in Target in the 4th quarter valued at $29,000. Bernard Wealth Management Corp. purchased a new stake in Target in the 4th quarter valued at $30,000. Wolff Wiese Magana LLC raised its position in Target by 156.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after buying an additional 133 shares during the last quarter. Finally, MCF Advisors LLC raised its position in Target by 175.3% in the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after buying an additional 163 shares during the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

About Target

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.