Target Co. (NYSE:TGT - Get Free Report)'s stock price fell 0.7% on Wednesday . The company traded as low as $90.70 and last traded at $91.42. 1,324,580 shares were traded during mid-day trading, a decline of 82% from the average session volume of 7,369,538 shares. The stock had previously closed at $92.08.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on TGT shares. The Goldman Sachs Group downgraded shares of Target from a "buy" rating to a "neutral" rating and decreased their target price for the company from $142.00 to $101.00 in a research report on Wednesday. Citigroup lowered their target price on Target from $120.00 to $95.00 and set a "neutral" rating on the stock in a research note on Thursday. KGI Securities set a $132.00 price objective on shares of Target in a research report on Wednesday, March 5th. Stifel Nicolaus reduced their target price on Target from $130.00 to $120.00 and set a "hold" rating for the company in a research note on Thursday, March 20th. Finally, Robert W. Baird downgraded Target from an "outperform" rating to a "neutral" rating and set a $110.00 target price on the stock. in a research report on Monday, April 7th. One research 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. According to MarketBeat, Target has an average rating of "Hold" and a consensus price target of $132.37.
Read Our Latest Research Report on TGT
Target Price Performance
The stock has a 50-day moving average price of $108.98 and a 200 day moving average price of $129.73. The firm has a market cap of $42.43 billion, a price-to-earnings ratio of 9.88, a PEG ratio of 1.94 and a beta of 1.28. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25.
Target (NYSE:TGT - Get Free Report) last announced its 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 net margin of 4.06% and a return on equity of 31.11%. The business had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. As a group, equities research analysts forecast that Target Co. will post 8.69 earnings per share for the current fiscal year.
Target Dividend Announcement
The business 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. This represents a $4.48 annualized dividend and a dividend yield of 4.81%. The ex-dividend date is Wednesday, May 14th. Target's dividend payout ratio (DPR) is presently 50.56%.
Hedge Funds Weigh In On Target
Several institutional investors have recently bought and sold shares of the company. Hopwood Financial Services Inc. purchased a new position in Target during the fourth quarter worth about $29,000. Bernard Wealth Management Corp. acquired a new position in Target during the 4th quarter worth approximately $29,000. MCF Advisors LLC raised its stake in shares of Target by 175.3% during the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer's stock worth $35,000 after buying an additional 163 shares in the last quarter. Raleigh Capital Management Inc. lifted its holdings in shares of Target by 110.7% in the 4th 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 boosted its stake in shares of Target by 47.5% in the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock valued at $35,000 after buying an additional 85 shares in the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.
Target Company Profile
(
Get Free Report)
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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