Target (NYSE:TGT) Shares Down 0.7% – Time to Sell?

Target Co. (NYSE:TGT) shares dropped 0.7% during mid-day trading on Wednesday . The stock traded as low as $90.70 and last traded at $91.42. Approximately 1,324,580 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 7,369,538 shares. The stock had previously closed at $92.08.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Truist Financial decreased their price objective on shares of Target from $124.00 to $82.00 and set a “hold” rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company decreased their target price on Target from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. Citigroup reduced their price objective on Target from $120.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday. Evercore ISI reduced their price target on shares of Target from $130.00 to $120.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 1st. Finally, UBS Group reduced their price target on shares of Target from $170.00 to $155.00 and set a “buy” rating for the company in a report 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’s stock. According to data from MarketBeat.com, Target has an average rating of “Hold” and a consensus target price of $132.37.

Target Stock Performance

The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $42.43 billion, a PE ratio of 9.88, a P/E/G ratio of 1.94 and a beta of 1.28. The firm’s 50-day moving average price is $109.77 and its two-hundred day moving average price is $130.28.

Target (NYSE:TGT) last issued its earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, topping the consensus estimate of $2.24 by $0.17. Target had a return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $30.92 billion during the quarter, compared to analysts’ expectations of $30.83 billion. As a group, research analysts predict that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a yield of 4.81%. Target’s dividend payout ratio (DPR) is currently 50.56%.

Institutional Investors Weigh In On Target

Institutional investors have recently made changes to their positions in the company. Robertson Stephens Wealth Management LLC raised its position in Target by 7.0% during the first quarter. Robertson Stephens Wealth Management LLC now owns 5,593 shares of the retailer’s stock valued at $584,000 after acquiring an additional 365 shares in the last quarter. Inscription Capital LLC acquired a new position in Target during the first quarter worth $1,661,000. Signature Wealth Management Group lifted its position in shares of Target by 12.8% in the first quarter. Signature Wealth Management Group now owns 28,527 shares of the retailer’s stock worth $2,977,000 after buying an additional 3,243 shares during the last quarter. Precedent Wealth Partners LLC raised its stake in shares of Target by 29.2% in the 1st quarter. Precedent Wealth Partners LLC now owns 10,339 shares of the retailer’s stock valued at $1,079,000 after acquiring an additional 2,335 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in Target by 19.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 345,697 shares of the retailer’s stock worth $36,077,000 after purchasing an additional 55,555 shares during the last quarter. 79.73% of the stock is currently 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.