DA Davidson Has Lowered Expectations for Target (NYSE:TGT) Stock Price

by · The Markets Daily

Target (NYSE:TGT – Free Report) had its price target cut by DA Davidson from $140.00 to $125.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the retailer’s stock.

TGT has been the topic of a number of other research reports. Evercore ISI lowered their target price on shares of Target from $130.00 to $120.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 1st. Robert W. Baird cut shares of Target from an “outperform” rating to a “neutral” rating and set a $110.00 target price on the stock. in a research note on Monday, April 7th. Morgan Stanley lowered their target price on shares of Target from $160.00 to $112.00 and set an “overweight” rating on the stock in a research note on Thursday. Wall Street Zen cut shares of Target from a “buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Finally, Stifel Nicolaus lowered their target price on shares of Target from $130.00 to $120.00 and set a “hold” rating on the stock in a research note on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $117.97.

Check Out Our Latest Analysis on Target

Target Stock Performance

NYSE:TGT opened at $95.05 on Thursday. The firm’s 50-day moving average is $97.49 and its 200-day moving average is $120.55. Target has a 52-week low of $87.35 and a 52-week high of $167.40. 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 company has a market cap of $43.19 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 1.94 and a beta of 1.27.

Target (NYSE:TGT – Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.35). Target had a return on equity of 31.11% and a net margin of 4.06%. The company had revenue of $24.20 billion for the quarter, compared to the consensus estimate of $24.54 billion. During the same quarter in the previous year, the firm posted $2.03 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. Equities research analysts anticipate that Target will post 8.69 earnings per share for the current year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 annualized dividend and a yield of 4.71%. Target’s dividend payout ratio is currently 50.56%.

Hedge Funds Weigh In On Target

Several large investors have recently bought and sold shares of TGT. Nicholas Company Inc. increased its stake in Target by 20.5% in the fourth quarter. Nicholas Company Inc. now owns 55,810 shares of the retailer’s stock valued at $7,544,000 after purchasing an additional 9,485 shares in the last quarter. River Road Asset Management LLC increased its stake in Target by 144.9% in the fourth quarter. River Road Asset Management LLC now owns 234,492 shares of the retailer’s stock valued at $31,699,000 after purchasing an additional 138,751 shares in the last quarter. Mountain Hill Investment Partners Corp. bought a new stake in Target in the fourth quarter valued at approximately $6,459,000. Sierra Summit Advisors LLC increased its stake in Target by 29.0% in the fourth quarter. Sierra Summit Advisors LLC now owns 14,354 shares of the retailer’s stock valued at $1,940,000 after purchasing an additional 3,231 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB increased its stake in Target by 25.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer’s stock valued at $2,430,000 after purchasing an additional 3,590 shares in the last quarter. 79.73% of the stock is currently 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.

Further Reading