Target (NYSE:TGT) Shares Down 2% – Time to Sell?

by · The Cerbat Gem

Shares of Target Co. (NYSE:TGT – Get Free Report) dropped 2% on Monday . The stock traded as low as $90.85 and last traded at $91.26. Approximately 1,033,011 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 7,347,937 shares. The stock had previously closed at $93.11.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TGT. Baird R W lowered Target from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Bank of America reduced their price objective 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. Piper Sandler dropped their target price on shares of Target from $132.00 to $124.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Telsey Advisory Group lowered their price objective on Target from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Finally, Roth Mkm restated a “neutral” rating and set a $122.00 target price (down previously from $131.00) on shares of Target in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, twenty-two have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $132.37.

Get Our Latest Research Report on Target

Target Trading Down 0.5 %

The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The firm’s fifty day moving average is $108.98 and its two-hundred day moving average is $129.59. The firm has a market capitalization of $42.19 billion, a PE ratio of 9.82, a PEG ratio of 1.94 and a beta of 1.28.

Target (NYSE:TGT – Get Free Report) last released its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $30.83 billion. On average, equities analysts predict that Target Co. will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

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 4.84%. Target’s payout ratio is currently 50.56%.

Institutional Trading of Target

Several hedge funds have recently added to or reduced their stakes in the stock. Hopwood Financial Services Inc. purchased a new position in Target in the fourth quarter valued at approximately $29,000. Bernard Wealth Management Corp. bought a new position in shares of Target during the 4th quarter worth $29,000. MCF Advisors LLC raised its stake in 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 acquiring an additional 163 shares during the period. Raleigh Capital Management Inc. lifted its holdings in Target by 110.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock valued at $35,000 after purchasing an additional 135 shares during the last quarter. Finally, Legacy Investment Solutions LLC increased 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 worth $35,000 after purchasing an additional 85 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

About Target

(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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