Target (NYSE:TGT) Shares Up 2.6% – What’s Next?

Target Co. (NYSE:TGT)’s stock price rose 2.6% during trading on Monday . The company traded as high as $95.41 and last traded at $95.19. Approximately 2,072,359 shares changed hands during trading, a decline of 63% from the average daily volume of 5,544,158 shares. The stock had previously closed at $92.78.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TGT shares. Telsey Advisory Group lowered their price target on Target from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. Mizuho began coverage on shares of Target in a research report on Friday, April 11th. They issued a “neutral” rating and a $92.00 price target for the company. The Goldman Sachs Group dropped their target price on shares of Target from $166.00 to $142.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. DA Davidson reduced their price objective on Target from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Finally, Piper Sandler reduced their price objective on Target from $132.00 to $124.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, twenty-one have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $134.57.

Target Stock Performance

The stock has a fifty day moving average price of $111.35 and a two-hundred day moving average price of $130.99. 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 market cap of $41.98 billion, a P/E ratio of 9.77, a PEG ratio of 1.94 and a beta of 1.28.

Target (NYSE:TGT) last posted its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.17. Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $30.92 billion during the quarter, compared to analyst estimates of $30.83 billion. On average, equities analysts forecast that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be issued a dividend of $1.12 per share. The ex-dividend date is Wednesday, May 14th. This represents a $4.48 annualized dividend and a dividend yield of 4.86%. Target’s dividend payout ratio is 50.56%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TGT. Nicholas Company Inc. boosted its holdings in Target by 20.5% during the fourth quarter. Nicholas Company Inc. now owns 55,810 shares of the retailer’s stock valued at $7,544,000 after acquiring an additional 9,485 shares during the period. River Road Asset Management LLC increased its position in shares of Target by 144.9% during the fourth quarter. River Road Asset Management LLC now owns 234,492 shares of the retailer’s stock valued at $31,699,000 after purchasing an additional 138,751 shares during the period. Mountain Hill Investment Partners Corp. acquired a new position in shares of Target in the 4th quarter valued at $6,459,000. Sierra Summit Advisors LLC raised its position in Target by 29.0% in the fourth quarter. Sierra Summit Advisors LLC now owns 14,354 shares of the retailer’s stock worth $1,940,000 after purchasing an additional 3,231 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its position in shares of Target by 25.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer’s stock worth $2,430,000 after buying an additional 3,590 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

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.