Target (NYSE:TGT) Price Target Lowered to $124.00 at Truist Financial

Target (NYSE:TGT) had its target price reduced by Truist Financial from $134.00 to $124.00 in a research note issued to investors on Wednesday,Benzinga reports. Truist Financial currently has a hold rating on the retailer’s stock.

Several other research firms have also recently issued reports on TGT. Deutsche Bank Aktiengesellschaft cut shares of Target from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $184.00 to $108.00 in a research report on Wednesday, November 20th. JPMorgan Chase & Co. decreased their price target on Target from $146.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday. Evercore ISI dropped their price objective on Target from $135.00 to $130.00 and set an “in-line” rating on the stock in a report on Wednesday. Jefferies Financial Group cut their target price on Target from $165.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, BMO Capital Markets lowered their price target on Target from $160.00 to $120.00 and set a “market perform” rating for the company in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $148.23.

Target Price Performance

TGT stock opened at $116.70 on Wednesday. The business’s 50-day moving average is $132.91 and its two-hundred day moving average is $141.92. 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 firm has a market capitalization of $53.47 billion, a P/E ratio of 12.38, a P/E/G ratio of 1.94 and a beta of 1.18. Target has a 1 year low of $112.53 and a 1 year high of $181.86.

Target (NYSE:TGT) last issued its 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. Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $30.92 billion for the quarter, compared to analysts’ expectations of $30.83 billion. Analysts anticipate that Target will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th were issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.84%. The ex-dividend date was Wednesday, February 12th. Target’s payout ratio is 50.56%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Thrivent Financial for Lutherans raised its stake in shares of Target by 1.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock worth $4,368,000 after buying an additional 490 shares in the last quarter. Wilmington Savings Fund Society FSB grew its holdings in Target by 25.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer’s stock worth $2,430,000 after acquiring an additional 3,590 shares during the period. Northeast Financial Group Inc. purchased a new position in Target in the fourth quarter worth $1,566,000. D.A. Davidson & CO. lifted its holdings in Target by 8.6% in the third quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock valued at $18,619,000 after acquiring an additional 9,510 shares during the period. Finally, LMG Wealth Partners LLC purchased a new stake in shares of Target during the 4th quarter worth $1,438,000. 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.