Target (NYSE:TGT) Stock Price Up 2.2% - Here's Why

Target Co. (NYSE:TGT - Get Free Report) shares shot up 2.2% during mid-day trading on Thursday . The company traded as high as $92.38 and last traded at $92.43. 1,103,335 shares changed hands during trading, a decline of 80% from the average session volume of 5,574,590 shares. The stock had previously closed at $90.46.

Analysts Set New Price Targets

A number of research firms have weighed in on TGT. Bank of America decreased their price target on shares of Target from $160.00 to $145.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price objective on Target from $146.00 to $140.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 5th. Jefferies Financial Group cut their target price on Target from $165.00 to $150.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. Roth Mkm reissued a "neutral" rating and set a $122.00 price objective (down from $131.00) on shares of Target in a report on Wednesday, March 5th. Finally, Baird R W downgraded shares of Target from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $132.37.

Target Trading Up 0.8 %

The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The stock has a market cap of $42.76 billion, a P/E ratio of 9.95, a PEG ratio of 1.94 and a beta of 1.28. The business's 50 day simple moving average is $108.98 and its two-hundred day simple moving average is $129.59.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share 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 company had revenue of $30.92 billion for the quarter, compared to analysts' expectations of $30.83 billion. As a group, analysts expect that Target Co. will post 8.69 EPS for the current year.

Target Dividend Announcement

The business 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 $1.12 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.77%. Target's dividend payout ratio (DPR) is presently 50.56%.

Institutional Trading of Target

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