Target (NYSE:TGT) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Target (NYSE:TGT) from a buy rating to a hold rating in a report released on Thursday.

Several other research analysts have also weighed in on TGT. JPMorgan Chase & Co. lowered their target price on shares of Target from $146.00 to $140.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. Roth Mkm reiterated a “neutral” rating and issued a $122.00 target price (down previously from $131.00) on shares of Target in a report on Wednesday, March 5th. UBS Group lowered their price target on Target from $170.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Gordon Haskett downgraded Target from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Finally, Guggenheim raised their price objective on shares of Target from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, twenty have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $136.03.

Target Price Performance

TGT stock opened at $92.57 on Thursday. Target has a 1 year low of $87.35 and a 1 year high of $173.05. The firm has a market capitalization of $42.17 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 1.94 and a beta of 1.28. 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 business has a 50 day simple moving average of $113.87 and a 200-day simple moving average of $132.29.

Target (NYSE:TGT) last announced its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share 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 analysts’ expectations of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Equities research analysts anticipate that Target will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 annualized dividend and a yield of 4.84%. Target’s dividend payout ratio is currently 50.56%.

Institutional Investors Weigh In On Target

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bernard Wealth Management Corp. acquired a new stake in Target in the fourth quarter valued at approximately $30,000. Hopwood Financial Services Inc. acquired a new stake in Target during the 4th quarter valued at $29,000. MCF Advisors LLC lifted its holdings in Target by 175.3% in the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after buying an additional 163 shares in the last quarter. Raleigh Capital Management Inc. boosted its position in Target by 110.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock valued at $35,000 after buying an additional 135 shares during the last quarter. Finally, Legacy Investment Solutions LLC grew its stake in shares of Target by 47.5% during the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock valued at $35,000 after acquiring an additional 85 shares in the last quarter. Hedge funds and other 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.