Target (NYSE:TGT) Sets New 52-Week Low - Here's What Happened

Target Co. (NYSE:TGT - Get Free Report) reached a new 52-week low on Monday . The company traded as low as $111.84 and last traded at $113.34, with a volume of 5435060 shares. The stock had previously closed at $115.08.

Analyst Upgrades and Downgrades

TGT has been the subject of several recent analyst reports. The Goldman Sachs Group cut their price target on shares of Target from $166.00 to $142.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. Stifel Nicolaus reduced their target price on Target from $145.00 to $130.00 and set a "hold" rating on the stock in a research report on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price objective on shares of Target from $146.00 to $140.00 and set a "neutral" rating for the company in a research report on Wednesday, March 5th. BMO Capital Markets cut their target price on Target from $160.00 to $120.00 and set a "market perform" rating on the stock in a research report on Thursday, November 21st. Finally, Gordon Haskett lowered Target from a "buy" rating to a "hold" rating in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $145.87.

Target Stock Performance

The company has a 50-day moving average of $131.18 and a 200-day moving average of $140.74. 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 $50.17 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18.

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Target (NYSE:TGT - Get Free Report) last released its quarterly earnings results 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. Target had a return on equity of 31.11% and a net margin of 4.06%. The company had revenue of $30.92 billion for the quarter, compared to analysts' expectations of $30.83 billion. On average, equities research analysts forecast that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 4.09%. Target's dividend payout ratio (DPR) is presently 50.56%.

Institutional Investors Weigh In On Target

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TGT. Impax Asset Management Group plc grew its holdings in Target by 8.6% during the third 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 during the period. Verdence Capital Advisors LLC grew its stake in shares of Target by 3.2% in the 3rd quarter. Verdence Capital Advisors LLC now owns 3,358 shares of the retailer's stock worth $523,000 after purchasing an additional 103 shares during the last quarter. Mesirow Financial Investment Management Inc. raised its holdings in shares of Target by 20.6% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 3,777 shares of the retailer's stock worth $589,000 after purchasing an additional 645 shares in the last quarter. Baker Avenue Asset Management LP raised its holdings in shares of Target by 13.8% in the 3rd quarter. Baker Avenue Asset Management LP now owns 4,452 shares of the retailer's stock worth $694,000 after purchasing an additional 541 shares in the last quarter. Finally, Tyler Stone Wealth Management lifted its stake in Target by 56.1% during the third quarter. Tyler Stone Wealth Management now owns 2,242 shares of the retailer's stock valued at $349,000 after purchasing an additional 806 shares during the last quarter. 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.