Target (NYSE:TGT) Downgraded to Hold Rating by Baird R W

Baird R W lowered shares of Target (NYSE:TGT - Free Report) from a strong-buy rating to a hold rating in a research report released on Monday,Zacks.com reports.

A number of other research analysts have also recently weighed in on the company. Citigroup dropped their price target on Target from $133.00 to $120.00 and set a "neutral" rating for the company in a research report on Wednesday, March 5th. Bank of America reduced their price target on shares of Target from $160.00 to $145.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. DA Davidson dropped their price objective on shares of Target from $153.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lowered their target price on Target from $146.00 to $140.00 and set a "neutral" rating on the stock in a report on Wednesday, March 5th. Finally, Jefferies Financial Group cut their price target on Target from $165.00 to $150.00 and set a "buy" rating for the company in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, twenty-one have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $134.57.

Target Price Performance

TGT stock traded down $2.07 on Monday, reaching $90.64. 4,102,860 shares of the company's stock were exchanged, compared to its average volume of 5,512,062. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. Target has a twelve month low of $87.35 and a twelve month high of $173.05. The firm has a market cap of $41.29 billion, a PE ratio of 9.63, a P/E/G ratio of 1.94 and a beta of 1.28. The stock has a fifty day moving average of $113.87 and a 200-day moving average of $132.29.

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Target (NYSE:TGT - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, topping analysts' consensus estimates of $2.24 by $0.17. Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $30.92 billion for the quarter, compared to the consensus estimate of $30.83 billion. As a group, equities analysts predict that Target 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. Investors of record on Wednesday, May 14th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date is Wednesday, May 14th. Target's dividend payout ratio is currently 50.56%.

Hedge Funds Weigh In On Target

Institutional investors have recently made changes to their positions in the business. Butensky & Cohen Financial Security Inc. raised its holdings in Target by 4.2% in the first quarter. Butensky & Cohen Financial Security Inc. now owns 27,617 shares of the retailer's stock valued at $2,882,000 after acquiring an additional 1,103 shares in the last quarter. Radnor Capital Management LLC raised its stake in shares of Target by 6.1% in the 1st quarter. Radnor Capital Management LLC now owns 9,695 shares of the retailer's stock valued at $1,012,000 after purchasing an additional 561 shares in the last quarter. Arkfeld Wealth Strategies L.L.C. lifted its position in shares of Target by 37.1% during the first quarter. Arkfeld Wealth Strategies L.L.C. now owns 15,072 shares of the retailer's stock worth $1,472,000 after purchasing an additional 4,078 shares during the last quarter. Davis Capital Management acquired a new position in Target in the first quarter worth about $181,000. Finally, Intellectus Partners LLC increased its holdings in Target by 18.3% in the first quarter. Intellectus Partners LLC now owns 6,956 shares of the retailer's stock valued at $726,000 after buying an additional 1,076 shares during the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

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.