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

Target Co. (NYSE:TGT)’s stock price hit a new 52-week low during mid-day 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 traded. The stock had previously closed at $104.20.

TGT has been the subject of a number of other research reports. Evercore ISI reduced their price objective on Target from $135.00 to $130.00 and set an “in-line” rating for the company in a report on Wednesday, March 5th. TD Cowen reduced their price objective on Target from $165.00 to $145.00 and set a “hold” rating for the company in a report on Thursday, November 21st. BMO Capital Markets reduced their price objective on Target from $160.00 to $120.00 and set a “market perform” rating for the company in a report on Thursday, November 21st. JPMorgan Chase & Co. cut their price target on Target from $146.00 to $140.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. Finally, Oppenheimer cut their price target on Target from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Target has an average rating of “Hold” and a consensus target price of $145.55.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. DSG Capital Advisors LLC acquired a new stake in Target in the fourth quarter valued at $18,238,000. Wealth Enhancement Advisory Services LLC increased its holdings in Target by 6.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 166,086 shares of the retailer’s stock valued at $22,451,000 after purchasing an additional 10,356 shares during the period. Centaurus Financial Inc. increased its holdings in Target by 2.7% in the fourth quarter. Centaurus Financial Inc. now owns 3,803 shares of the retailer’s stock valued at $514,000 after purchasing an additional 99 shares during the period. Mattson Financial Services LLC increased its holdings in Target by 6.1% in the fourth quarter. Mattson Financial Services LLC now owns 19,084 shares of the retailer’s stock valued at $2,580,000 after purchasing an additional 1,094 shares during the period. Finally, Aegis Wealth Management LLC acquired a new stake in Target in the fourth quarter valued at $277,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Stock Down 1.1 %

The firm has a market capitalization 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 stock has a fifty day moving average of $126.64 and a two-hundred day moving average of $138.47. 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 posted its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.17. The business had revenue of $30.92 billion during 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%. Sell-side analysts anticipate that Target Co. will post 8.69 earnings per share for the current year.

Target Announces Dividend

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 issued a dividend of $1.12 per share. 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 4.35%. Target’s payout ratio is currently 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.