Target (NYSE:TGT) Shares Up 2.6% - Here's Why

Target Co. (NYSE:TGT - Get Free Report)'s share price traded up 2.6% on Monday . The stock traded as high as $95.41 and last traded at $95.19. 2,072,359 shares traded hands during trading, a decline of 63% from the average session volume of 5,544,158 shares. The stock had previously closed at $92.78.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Bank of America cut their target price on shares of Target from $160.00 to $145.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th. The Goldman Sachs Group cut Target from a "buy" rating to a "neutral" rating and cut their price target for the company from $142.00 to $101.00 in a report on Wednesday. Oppenheimer decreased their price objective on shares of Target from $165.00 to $150.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. DA Davidson dropped their target price on shares of Target from $153.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th. Finally, Piper Sandler reduced their target price 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. One analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $132.37.

Target Price Performance

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 company has a fifty day moving average price of $109.77 and a two-hundred day moving average price of $130.28. The firm has a market cap of $42.43 billion, a P/E ratio of 9.88, a PEG ratio of 1.94 and a beta of 1.28.

Target (NYSE:TGT - Get Free Report) last issued its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.17. The company had revenue of $30.92 billion during the quarter, compared to the consensus estimate of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Equities analysts anticipate that Target Co. will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 annualized dividend and a yield of 4.81%. Target's dividend payout ratio (DPR) is presently 50.56%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Hopwood Financial Services Inc. bought a new position in Target in the 4th quarter valued at about $29,000. Bernard Wealth Management Corp. bought a new stake in Target during the fourth quarter worth $29,000. MCF Advisors LLC boosted its holdings in shares of Target by 175.3% in the 4th 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. raised its holdings in shares of Target by 110.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer's stock worth $35,000 after buying an additional 135 shares in the last quarter. Finally, Legacy Investment Solutions LLC lifted its position in shares of 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 buying an additional 85 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors.

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.