Target (NYSE:TGT) Stock Price Down 0.5%

Shares of Target Co. (NYSE:TGT) were down 0.5% on Thursday . The stock traded as low as $151.45 and last traded at $151.73. Approximately 451,604 shares changed hands during trading, a decline of 89% from the average daily volume of 4,020,304 shares. The stock had previously closed at $152.48.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TGT. Jefferies Financial Group raised their target price on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Bank of America raised their price objective on Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Morgan Stanley reiterated an “overweight” rating and set a $180.00 price target on shares of Target in a report on Wednesday, August 21st. Royal Bank of Canada upped their price target on Target from $174.00 to $177.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Finally, Roth Mkm increased their price target on Target from $153.00 to $157.00 and gave the company a “neutral” rating in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Target has an average rating of “Moderate Buy” and a consensus price target of $179.68.

Target Price Performance

The stock has a 50 day moving average of $147.63 and a 200-day moving average of $155.06. The stock has a market capitalization of $69.99 billion, a P/E ratio of 16.98, a price-to-earnings-growth ratio of 1.99 and a beta of 1.24. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.39. The company had revenue of $25.02 billion during the quarter, compared to analyst estimates of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.80 earnings per share. On average, equities research analysts anticipate that Target Co. will post 9.49 earnings per share for the current fiscal year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date is Wednesday, August 21st. This is a positive change from Target’s previous quarterly dividend of $1.10. Target’s dividend payout ratio is currently 50.28%.

Insider Transactions at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the transaction, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the transaction, the chief accounting officer now owns 7,276 shares in the company, valued at $1,114,173.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the transaction, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Triad Wealth Partners LLC acquired a new position in Target in the second quarter valued at about $25,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of Target in the fourth quarter valued at about $28,000. Slocum Gordon & Co LLP bought a new position in Target during the second quarter worth about $28,000. Private Wealth Management Group LLC bought a new position in Target in the 4th quarter valued at about $29,000. Finally, Scarborough Advisors LLC acquired a new stake in shares of Target in the 4th quarter valued at approximately $29,000. 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.