Target (NYSE:TGT) Shares Down 2% - Here's What Happened

Target Co. (NYSE:TGT - Get Free Report)'s stock price dropped 2% during trading on Monday . The company traded as low as $90.85 and last traded at $91.26. Approximately 1,033,011 shares changed hands during trading, a decline of 86% from the average daily volume of 7,347,937 shares. The stock had previously closed at $93.11.

Analyst Upgrades and Downgrades

TGT has been the topic of several research analyst reports. Cfra Research lowered Target from a "moderate buy" rating to a "hold" rating in a report on Thursday, April 17th. Citigroup decreased their price target on shares of Target from $120.00 to $95.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Evercore ISI decreased their target price on Target from $130.00 to $120.00 and set an "in-line" rating on the stock in a research report on Tuesday, April 1st. KGI Securities set a $132.00 target price on shares of Target in a research note on Wednesday, March 5th. Finally, Sanford C. Bernstein reiterated a "market perform" rating on shares of Target in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Target presently has a consensus rating of "Hold" and a consensus target price of $132.37.

Target Stock Up 1.5 %

The firm has a market capitalization of $42.62 billion, a PE ratio of 9.92, a PEG ratio of 1.94 and a beta of 1.28. The business's fifty day moving average price is $106.90 and its 200 day moving average price is $128.68. 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 (NYSE:TGT - Get Free Report) last posted its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, beating the consensus estimate of $2.24 by $0.17. The firm 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%. On average, equities research analysts forecast that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be paid a dividend of $1.12 per share. The ex-dividend date is Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.79%. Target's dividend payout ratio (DPR) is 50.56%.

Institutional Investors Weigh In On Target

Hedge funds have recently added to or reduced their stakes in the company. Capital World Investors boosted its stake in shares of Target by 6.3% in the fourth quarter. Capital World Investors now owns 21,930,569 shares of the retailer's stock valued at $2,964,565,000 after buying an additional 1,306,552 shares in the last quarter. FMR LLC grew its stake in shares of Target by 13.6% during the 4th quarter. FMR LLC now owns 11,338,729 shares of the retailer's stock worth $1,532,769,000 after purchasing an additional 1,358,348 shares during the period. Geode Capital Management LLC increased its holdings in shares of Target by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 9,885,015 shares of the retailer's stock valued at $1,332,317,000 after purchasing an additional 470,990 shares in the last quarter. Norges Bank acquired a new stake in shares of Target in the fourth quarter valued at about $757,892,000. Finally, Northern Trust Corp lifted its stake in shares of Target by 16.3% in the fourth quarter. Northern Trust Corp now owns 5,376,640 shares of the retailer's stock valued at $726,814,000 after purchasing an additional 754,883 shares during the period. Institutional investors and hedge funds 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.