Target (NYSE:TGT) Lowered to "Neutral" Rating by Daiwa Capital Markets

Target (NYSE:TGT - Get Free Report) was downgraded by Daiwa Capital Markets from an "outperform" rating to a "neutral" rating in a report issued on Tuesday, Marketbeat.com reports. They presently have a $130.00 price objective on the retailer's stock, down from their previous price objective of $170.00. Daiwa Capital Markets' price target indicates a potential upside of 2.09% from the stock's current price.

Other equities analysts have also issued research reports about the stock. Stifel Nicolaus dropped their target price on shares of Target from $165.00 to $137.00 and set a "hold" rating for the company in a research report on Thursday, November 21st. BMO Capital Markets cut their price objective on Target from $160.00 to $120.00 and set a "market perform" rating for the company in a research report on Thursday, November 21st. Piper Sandler decreased their target price on Target from $156.00 to $130.00 and set a "neutral" rating on the stock in a research report on Thursday, November 21st. Daiwa America raised Target to a "strong-buy" rating in a research note on Monday, August 26th. Finally, Truist Financial lifted their price objective on Target from $156.00 to $162.00 and gave the stock a "hold" rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Target presently has an average rating of "Hold" and an average price target of $160.30.

Target Price Performance

Target stock traded down $3.19 during mid-day trading on Tuesday, hitting $127.34. The stock had a trading volume of 6,873,951 shares, compared to its average volume of 4,405,528. Target has a one year low of $120.21 and a one year high of $181.86. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $58.66 billion, a P/E ratio of 13.84, a P/E/G ratio of 2.05 and a beta of 1.24. The firm's 50 day moving average is $150.82 and its 200 day moving average is $149.31.

Target (NYSE:TGT - Get Free Report) last issued its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The business had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. During the same period last year, the business posted $2.10 EPS. The firm's revenue for the quarter was up .9% compared to the same quarter last year. On average, sell-side analysts forecast that Target will post 8.6 earnings per share for the current fiscal year.

Insider Transactions at Target

In other news, insider Richard H. Gomez sold 6,348 shares of the business's stock in a transaction on Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the sale, the insider now directly owns 123,551 shares of the company's stock, valued at $19,418,510.67. The trade was a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the firm's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the transaction, the chief accounting officer now owns 7,276 shares of the company's stock, valued at $1,114,173.88. This trade represents a 12.08 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Thrivent Financial for Lutherans raised its position in 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 during the last quarter. TAP Consulting LLC purchased a new position in shares of Target during the third quarter worth $2,403,000. D.A. Davidson & CO. lifted its position in Target by 8.6% during the third quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer's stock valued at $18,619,000 after purchasing an additional 9,510 shares during the period. Olstein Capital Management L.P. grew its position in Target by 8.7% during the 3rd quarter. Olstein Capital Management L.P. now owns 50,000 shares of the retailer's stock worth $7,793,000 after purchasing an additional 4,000 shares during the period. Finally, Smead Capital Management Inc. raised its stake in shares of Target by 3.4% during the 3rd quarter. Smead Capital Management Inc. now owns 1,243,928 shares of the retailer's stock valued at $193,879,000 after buying an additional 41,394 shares during the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

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.