Target (NYSE:TGT) Shares Up 0.6% – Here’s What Happened

Shares of Target Co. (NYSE:TGT) rose 0.6% during mid-day trading on Wednesday . The company traded as high as $90.94 and last traded at $89.32. Approximately 2,934,928 shares were traded during mid-day trading, a decline of 46% from the average daily volume of 5,420,221 shares. The stock had previously closed at $88.76.

Analyst Upgrades and Downgrades

TGT has been the subject of several recent analyst reports. Citigroup lowered their price objective on shares of Target from $133.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. Roth Capital set a $122.00 price target on Target in a research report on Wednesday, March 5th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Target in a research report on Wednesday, March 5th. Bank of America decreased their target price on Target from $160.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. cut their price target on shares of Target from $146.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, twenty-one have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $134.57.

Target Trading Up 0.1 %

The stock has a market cap of $42.26 billion, a PE ratio of 9.84, a PEG ratio of 1.94 and a beta of 1.28. 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’s fifty day moving average price is $113.87 and its 200 day moving average price is $132.29.

Target (NYSE:TGT) last issued its earnings results 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 return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $30.92 billion for the quarter, compared to the consensus estimate of $30.83 billion. On average, sell-side analysts forecast that Target Co. will post 8.69 EPS for the current year.

Target Dividend Announcement

The firm also recently announced 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. This represents a $4.48 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date is Wednesday, May 14th. Target’s dividend payout ratio (DPR) is 50.56%.

Institutional Trading of Target

A number of institutional investors have recently made changes to their positions in the stock. Hopwood Financial Services Inc. bought a new position in Target during the fourth quarter valued at approximately $29,000. Bernard Wealth Management Corp. purchased a new stake in Target during the 4th quarter valued at $29,000. MCF Advisors LLC lifted its holdings 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 buying an additional 163 shares during the period. Raleigh Capital Management Inc. boosted its stake in shares of Target by 110.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after buying an additional 135 shares during the last quarter. Finally, Legacy Investment Solutions LLC grew its holdings 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 acquiring an additional 85 shares during the period. 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.