Target (NYSE:TGT) Sets New 1-Year Low on Analyst Downgrade

Target Co. (NYSE:TGT) hit a new 52-week low during trading on Friday after Stifel Nicolaus lowered their price target on the stock from $130.00 to $120.00. Stifel Nicolaus currently has a hold rating on the stock. Target traded as low as $101.76 and last traded at $103.29, with a volume of 1332691 shares trading hands. The stock had previously closed at $104.20.

Several other research analysts have also weighed in on the company. HSBC lowered Target from a “buy” rating to a “hold” rating and set a $138.00 target price on the stock. in a research report on Wednesday, November 20th. Telsey Advisory Group dropped their target price on Target from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Roth Capital set a $122.00 target price on Target in a research report on Wednesday, March 5th. Wells Fargo & Company dropped their target price on Target from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Finally, Roth Mkm reaffirmed a “neutral” rating and issued a $122.00 target price (down from $131.00) on shares of Target in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $145.55.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans increased its position in shares of Target by 1.8% in the third quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock valued at $4,368,000 after acquiring an additional 490 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Target by 7.1% in the third quarter. Advisors Asset Management Inc. now owns 23,400 shares of the retailer’s stock valued at $3,647,000 after acquiring an additional 1,551 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of Target in the third quarter valued at about $153,000. Moors & Cabot Inc. increased its position in shares of Target by 6.1% in the third quarter. Moors & Cabot Inc. now owns 14,466 shares of the retailer’s stock valued at $2,255,000 after acquiring an additional 836 shares during the last quarter. Finally, Moran Wealth Management LLC acquired a new stake in shares of Target in the third quarter valued at about $6,370,000. 79.73% of the stock is currently owned by institutional investors.

Target Trading Down 1.1 %

The business has a 50-day simple moving average of $126.64 and a two-hundred day simple moving average of $138.47. The stock has a market cap of $46.94 billion, a price-to-earnings ratio of 10.92, a P/E/G ratio of 1.94 and a beta of 1.18. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25.

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

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date is Wednesday, May 14th. Target’s dividend payout ratio (DPR) is presently 50.56%.

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.