Truist Financial Has Lowered Expectations for Target (NYSE:TGT) Stock Price

Target (NYSE:TGT) had its price objective trimmed by Truist Financial from $134.00 to $124.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the retailer’s stock.

A number of other research analysts have also recently weighed in on TGT. JPMorgan Chase & Co. dropped their price objective on shares of Target from $146.00 to $140.00 and set a “neutral” rating for the company in a research note on Wednesday. Jefferies Financial Group dropped their price target on Target from $165.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday. Daiwa Capital Markets cut Target from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $170.00 to $130.00 in a report on Tuesday, November 26th. BMO Capital Markets decreased their price objective on Target from $160.00 to $120.00 and set a “market perform” rating on the stock in a research note on Thursday, November 21st. Finally, Daiwa America downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $148.23.

Target Stock Performance

Shares of TGT stock opened at $116.70 on Wednesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The stock has a market cap of $53.47 billion, a PE 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. The stock has a fifty day moving average price of $132.91 and a 200 day moving average price of $141.92.

Target (NYSE:TGT) last released its quarterly earnings data 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 net margin of 4.06% and a return on equity of 31.11%. The business had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. Sell-side analysts forecast that Target will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th were given a dividend of $1.12 per share. The ex-dividend date was Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a yield of 3.84%. Target’s dividend payout ratio (DPR) is 50.56%.

Institutional Investors Weigh In On Target

Several large investors have recently made changes to their positions in the business. Harbor Capital Advisors Inc. purchased a new stake in shares of Target in the third quarter worth about $49,000. Impax Asset Management Group plc lifted its position in Target by 8.6% during the 3rd quarter. Impax Asset Management Group plc now owns 241,447 shares of the retailer’s stock worth $37,632,000 after acquiring an additional 19,095 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in Target in the 3rd quarter worth approximately $38,000. Central Bank & Trust Co. boosted its holdings in Target by 6.2% in the 3rd quarter. Central Bank & Trust Co. now owns 2,283 shares of the retailer’s stock worth $356,000 after acquiring an additional 134 shares during the period. Finally, Crestwood Advisors Group LLC grew its position in Target by 11.0% in the third quarter. Crestwood Advisors Group LLC now owns 11,267 shares of the retailer’s stock valued at $1,756,000 after acquiring an additional 1,114 shares in the last quarter. 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.