Target (NYSE:TGT) Shares Down 0.5% – Here’s Why

Target Co. (NYSE:TGT) shares dropped 0.5% on Monday . The company traded as low as $90.25 and last traded at $95.21. Approximately 4,401,409 shares were traded during trading, a decline of 18% from the average daily volume of 5,348,471 shares. The stock had previously closed at $95.72.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TGT. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Target in a research report on Wednesday, March 5th. Bank of America cut their target price on Target from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Wells Fargo & Company dropped their price target on Target from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Truist Financial cut their price objective on Target from $134.00 to $124.00 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $122.00 target price (down 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, eighteen have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $137.48.

Target Stock Down 1.6 %

The stock has a fifty day simple moving average of $118.45 and a two-hundred day simple moving average of $134.16. The firm has a market cap of $42.93 billion, a PE ratio of 9.99, a price-to-earnings-growth ratio of 1.94 and a beta of 1.28. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last issued its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, beating the consensus estimate of $2.24 by $0.17. Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $30.92 billion during the quarter, compared to analysts’ expectations of $30.83 billion. As a group, sell-side analysts expect that Target Co. will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The firm also recently announced 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. This represents a $4.48 annualized dividend and a yield of 4.75%. The ex-dividend date is Wednesday, May 14th. Target’s payout ratio is 50.56%.

Institutional Trading of Target

Several institutional investors and hedge funds have recently modified their holdings of TGT. Kathmere Capital Management LLC raised its stake in Target by 3.0% in the fourth quarter. Kathmere Capital Management LLC now owns 2,541 shares of the retailer’s stock valued at $343,000 after purchasing an additional 73 shares in the last quarter. Horrell Capital Management Inc. increased its holdings in shares of Target by 0.3% in the 4th quarter. Horrell Capital Management Inc. now owns 26,657 shares of the retailer’s stock worth $3,603,000 after buying an additional 76 shares during the last quarter. Fiducient Advisors LLC raised its position in shares of Target by 4.6% during the 4th quarter. Fiducient Advisors LLC now owns 1,778 shares of the retailer’s stock valued at $240,000 after buying an additional 78 shares in the last quarter. First PREMIER Bank lifted its holdings in shares of Target by 21.9% during the 4th quarter. First PREMIER Bank now owns 445 shares of the retailer’s stock worth $61,000 after acquiring an additional 80 shares during the last quarter. Finally, Winch Advisory Services LLC grew its position in Target by 34.5% in the fourth quarter. Winch Advisory Services LLC now owns 320 shares of the retailer’s stock worth $43,000 after acquiring an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

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.