Target (NYSE:TGT) Shares Gap Down Following Analyst Downgrade

Target Corporation (NYSE:TGT)’s share price gapped down prior to trading on Wednesday after UBS Group lowered their price target on the stock from $135.00 to $130.00. The stock had previously closed at $105.36, but opened at $94.41. UBS Group currently has a buy rating on the stock. Target shares last traded at $97.14, with a volume of 12,871,220 shares changing hands.

A number of other research analysts have also recently issued reports on the stock. Truist Financial increased their target price on shares of Target from $90.00 to $107.00 and gave the company a “hold” rating in a report on Wednesday, August 13th. DA Davidson reduced their price target on shares of Target from $140.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, May 22nd. Loop Capital set a $95.00 price target on shares of Target in a report on Thursday, July 17th. Robert W. Baird set a $100.00 price target on shares of Target in a report on Thursday, May 22nd. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $110.00 price target on shares of Target in a report on Wednesday. Ten investment analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $113.55.

Insider Activity at Target

In other news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the completion of the sale, the insider directly owned 246,453 shares in the company, valued at $23,703,849.54. The trade was a 15.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.16% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Target

Hedge funds and other institutional investors have recently modified their holdings of the company. Bernard Wealth Management Corp. purchased a new stake in shares of Target during the fourth quarter worth about $29,000. WFA of San Diego LLC purchased a new position in shares of Target during the 2nd quarter worth about $25,000. Kozak & Associates Inc. lifted its holdings in shares of Target by 2,530.0% during the 2nd quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock worth $27,000 after acquiring an additional 253 shares during the period. Raleigh Capital Management Inc. lifted its holdings in shares of Target by 63.4% during the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock worth $26,000 after acquiring an additional 102 shares during the period. Finally, Investment Research & Advisory Group Inc. purchased a new position in shares of Target during the 2nd quarter worth about $29,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Stock Performance

The firm has a market capitalization of $44.11 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 2.84 and a beta of 1.22. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.99. The company’s fifty day moving average price is $101.99 and its two-hundred day moving average price is $104.11.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.01. The business had revenue of $24.99 billion for the quarter, compared to analyst estimates of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. The company’s revenue was down .9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, equities analysts expect that Target Corporation will post 8.69 earnings per share for the current year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Wednesday, August 13th. Target’s dividend payout ratio is presently 50.11%.

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.