Target (NYSE:TGT) Shares Up 2.1% - Here's Why

Target Co. (NYSE:TGT - Get Free Report) shares were up 2.1% on Thursday . The stock traded as high as $93.97 and last traded at $94.08. 1,762,211 shares traded hands during trading, a decline of 69% from the average daily volume of 5,656,726 shares. The stock had previously closed at $92.15.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on TGT shares. Oppenheimer dropped their target price on shares of Target from $165.00 to $150.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. Sanford C. Bernstein reiterated a "market perform" rating on shares of Target in a research note on Wednesday, March 5th. Gordon Haskett cut Target from a "buy" rating to a "hold" rating in a research note on Thursday, February 13th. Cfra Research lowered shares of Target from a "moderate buy" rating to a "hold" rating in a research report on Thursday, April 17th. Finally, Roth Capital set a $122.00 price target on shares of Target in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $132.37.

Target Price Performance

The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The firm has a 50-day moving average price of $106.90 and a 200 day moving average price of $128.68. The stock has a market capitalization of $43.16 billion, a P/E ratio of 10.04, a price-to-earnings-growth ratio of 1.94 and a beta of 1.28.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $30.92 billion during the quarter, compared to analyst estimates of $30.83 billion. On average, analysts expect that Target Co. will post 8.69 EPS for the current year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date of this dividend is Wednesday, May 14th. Target's payout ratio is 50.56%.

Hedge Funds Weigh In On Target

Several hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Target by 754.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 446,344 shares of the retailer's stock valued at $46,264,000 after acquiring an additional 394,124 shares in the last quarter. Achmea Investment Management B.V. grew its stake in Target by 22.8% in the first quarter. Achmea Investment Management B.V. now owns 164,045 shares of the retailer's stock worth $17,120,000 after purchasing an additional 30,482 shares during the period. Bartlett & CO. Wealth Management LLC raised its holdings in Target by 1.1% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 21,424 shares of the retailer's stock worth $2,236,000 after purchasing an additional 230 shares in the last quarter. Victrix Investment Advisors boosted its holdings in shares of Target by 0.9% during the 1st quarter. Victrix Investment Advisors now owns 13,502 shares of the retailer's stock valued at $1,353,000 after buying an additional 126 shares in the last quarter. Finally, Park Place Capital Corp grew its position in shares of Target by 133.3% in the 1st quarter. Park Place Capital Corp now owns 3,164 shares of the retailer's stock worth $330,000 after buying an additional 1,808 shares during the period. 79.73% of the stock is 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.

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