Target (NYSE:TGT) Sets New 52-Week Low - Time to Sell?

Target Co. (NYSE:TGT - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $90.25 and last traded at $91.11, with a volume of 1362320 shares traded. The stock had previously closed at $95.72.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Piper Sandler dropped their price target on shares of Target from $132.00 to $124.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 5th. Baird R W downgraded shares of Target from a "strong-buy" rating to a "hold" rating in a report on Monday. Roth Mkm restated a "neutral" rating and set a $122.00 price target (down from $131.00) on shares of Target in a report on Wednesday, March 5th. Oppenheimer dropped their price objective on Target from $165.00 to $150.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. Finally, Jefferies Financial Group cut their price objective on Target from $165.00 to $150.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. One 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. According to MarketBeat, Target presently has a consensus rating of "Hold" and an average price target of $134.57.

Target Stock Performance

The firm has a market capitalization of $42.26 billion, a P/E ratio of 9.84, a price-to-earnings-growth ratio of 1.94 and a beta of 1.28. The business's 50 day simple moving average is $113.87 and its two-hundred day simple moving average is $132.29. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

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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 (EPS) for the quarter, topping 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 firm had revenue of $30.92 billion for the quarter, compared to the consensus estimate of $30.83 billion. Sell-side analysts anticipate that Target Co. will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date of this dividend is Wednesday, May 14th. Target's payout ratio is presently 50.56%.

Institutional Trading of Target

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Butensky & Cohen Financial Security Inc. lifted its position in shares of Target by 4.2% during the first quarter. Butensky & Cohen Financial Security Inc. now owns 27,617 shares of the retailer's stock worth $2,882,000 after purchasing an additional 1,103 shares during the last quarter. Radnor Capital Management LLC increased its stake in Target by 6.1% in the 1st quarter. Radnor Capital Management LLC now owns 9,695 shares of the retailer's stock worth $1,012,000 after buying an additional 561 shares during the period. Arkfeld Wealth Strategies L.L.C. lifted its holdings in Target by 37.1% during the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 15,072 shares of the retailer's stock valued at $1,472,000 after buying an additional 4,078 shares in the last quarter. Davis Capital Management bought a new stake in Target during the 1st quarter valued at about $181,000. Finally, Intellectus Partners LLC boosted its position in Target by 18.3% in the 1st 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 period. Hedge funds and other institutional investors 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.