Piper Sandler Cuts Target (NYSE:TGT) Price Target to $124.00

Target (NYSE:TGT) had its price target lowered by Piper Sandler from $132.00 to $124.00 in a research note published on Wednesday,Benzinga reports. Piper Sandler currently has a neutral rating on the retailer’s stock.

Several other research firms have also recently issued reports on TGT. Gordon Haskett cut shares of Target from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. reduced their price target on shares of Target from $146.00 to $140.00 and set a “neutral” rating on the stock in a research report on Wednesday. StockNews.com cut Target from a “buy” rating to a “hold” rating in a research note on Monday. Guggenheim lifted their target price on Target from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, Daiwa Capital Markets downgraded shares of Target from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $170.00 to $130.00 in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $148.23.

Target Price Performance

Shares of TGT stock opened at $116.70 on Wednesday. The firm has a fifty day simple moving average of $132.91 and a 200-day simple moving average of $141.92. The company has a market capitalization of $53.47 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18. Target has a twelve month low of $112.53 and a twelve month high of $181.86. 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 announced its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. The business had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Equities research analysts anticipate that Target will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Wednesday, February 12th were issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend was Wednesday, February 12th. Target’s payout ratio is 50.56%.

Institutional Trading of Target

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Thrivent Financial for Lutherans boosted its stake in Target by 1.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock worth $4,368,000 after purchasing an additional 490 shares during the period. Wilmington Savings Fund Society FSB boosted its position in shares of Target by 25.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer’s stock worth $2,430,000 after buying an additional 3,590 shares during the period. Northeast Financial Group Inc. purchased a new position in shares of Target during the fourth quarter valued at $1,566,000. D.A. Davidson & CO. raised its position in Target by 8.6% during the third quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock valued at $18,619,000 after buying an additional 9,510 shares during the period. Finally, LMG Wealth Partners LLC acquired a new stake in Target during the 4th quarter worth about $1,438,000. 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.