Target (NYSE:TGT) Price Target Lowered to $92.00 at Robert W. Baird

Target (NYSE:TGT) had its price target reduced by Robert W. Baird from $100.00 to $92.00 in a research note published on Thursday, MarketBeat.com reports. Robert W. Baird currently has a neutral rating on the retailer’s stock.

A number of other brokerages also recently issued reports on TGT. JPMorgan Chase & Co. cut their price objective on shares of Target from $117.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, November 10th. Sanford C. Bernstein lowered their target price on shares of Target from $87.00 to $80.00 and set an “underperform” rating for the company in a research note on Thursday. BTIG Research initiated coverage on Target in a report on Tuesday, October 14th. They set a “neutral” rating for the company. Guggenheim reissued a “buy” rating and issued a $115.00 price objective on shares of Target in a research report on Monday, October 27th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Target in a report on Wednesday, October 8th. Ten equities research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Target currently has an average rating of “Hold” and a consensus price target of $102.97.

Target Stock Up 3.5%

NYSE TGT traded up $2.93 during midday trading on Thursday, hitting $86.61. 3,269,024 shares of the company traded hands, compared to its average volume of 7,348,883. Target has a 52 week low of $83.44 and a 52 week high of $145.08. The company’s 50-day simple moving average is $90.18 and its 200-day simple moving average is $95.93. The company has a market cap of $39.36 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 2.74 and a beta of 1.19. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, November 19th. The retailer reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.07. Target had a return on equity of 23.43% and a net margin of 3.72%.The firm had revenue of $25.28 billion during the quarter, compared to analysts’ expectations of $25.44 billion. During the same period in the prior year, the business posted $1.85 EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-8.000 EPS. As a group, equities research analysts forecast that Target will post 8.69 earnings per share for the current year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be issued a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend is Wednesday, November 12th. This is a positive change from Target’s previous quarterly dividend of $1.12. Target’s payout ratio is currently 53.15%.

Institutional Investors Weigh In On Target

A number of institutional investors have recently added to or reduced their stakes in the stock. JNBA Financial Advisors lifted its holdings in Target by 3.0% during the second quarter. JNBA Financial Advisors now owns 3,347 shares of the retailer’s stock valued at $330,000 after purchasing an additional 96 shares in the last quarter. Pin Oak Investment Advisors Inc. raised its position in shares of Target by 32.3% during the 2nd quarter. Pin Oak Investment Advisors Inc. now owns 401 shares of the retailer’s stock worth $41,000 after purchasing an additional 98 shares during the last quarter. OMERS ADMINISTRATION Corp lifted its stake in Target by 0.6% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 17,618 shares of the retailer’s stock valued at $1,738,000 after buying an additional 100 shares in the last quarter. Raleigh Capital Management Inc. boosted its holdings in Target by 63.4% in the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock worth $26,000 after buying an additional 102 shares during the last quarter. Finally, Binnacle Investments Inc increased its stake in Target by 11.4% during the 2nd quarter. Binnacle Investments Inc now owns 1,013 shares of the retailer’s stock worth $100,000 after buying an additional 104 shares in the last quarter. Institutional investors and hedge funds 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.