Target (NYSE:TGT) Stock Price Up 0.5% - What's Next?

Target Co. (NYSE:TGT - Get Free Report) shares traded up 0.5% during trading on Wednesday . The stock traded as high as $97.62 and last traded at $94.56. 2,183,814 shares were traded during trading, a decline of 61% from the average session volume of 5,629,929 shares. The stock had previously closed at $94.10.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Jefferies Financial Group cut their price objective on shares of Target from $165.00 to $150.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. StockNews.com cut Target from a "buy" rating to a "hold" rating in a research report on Tuesday. Truist Financial reduced their price target on Target from $124.00 to $82.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. JPMorgan Chase & Co. dropped their price objective on Target from $146.00 to $140.00 and set a "neutral" rating on the stock in a report on Wednesday, March 5th. Finally, UBS Group reduced their target price on Target from $170.00 to $155.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $132.37.

Target Trading Down 1.7 %

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 market capitalization of $42.15 billion, a P/E ratio of 9.81, a price-to-earnings-growth ratio of 1.94 and a beta of 1.28. The firm has a 50 day moving average price of $107.61 and a two-hundred day moving average price of $128.93.

Target (NYSE:TGT - Get Free Report) last issued its earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, topping the consensus estimate of $2.24 by $0.17. Target had a return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $30.92 billion during the quarter, compared to analysts' expectations of $30.83 billion. On average, equities research analysts expect that Target Co. will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The firm also recently announced 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. The ex-dividend date is Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a yield of 4.84%. Target's payout ratio is 50.56%.

Hedge Funds Weigh In On Target

Several institutional investors and hedge funds have recently modified their holdings of TGT. Hopwood Financial Services Inc. acquired a new stake in shares of Target during the 4th quarter worth $29,000. Bernard Wealth Management Corp. acquired a new position in Target in the 4th quarter worth about $29,000. MCF Advisors LLC boosted its stake in shares of Target by 175.3% during the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer's stock valued at $35,000 after purchasing an additional 163 shares in the last quarter. Raleigh Capital Management Inc. increased its stake in shares of Target by 110.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer's stock valued at $35,000 after buying an additional 135 shares during the period. Finally, Legacy Investment Solutions LLC grew its holdings in Target by 47.5% during the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock worth $35,000 after acquiring an additional 85 shares during the last quarter. 79.73% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.