Target (NYSE:TGT) Given New $140.00 Price Target at DA Davidson

Target (NYSE:TGT) had its price target decreased by DA Davidson from $153.00 to $140.00 in a report published on Wednesday,Benzinga reports. DA Davidson currently has a buy rating on the retailer’s stock.

Several other analysts have also weighed in on TGT. StockNews.com lowered Target from a “buy” rating to a “hold” rating in a research note on Monday. Roth Mkm dropped their price objective on shares of Target from $157.00 to $131.00 and set a “neutral” rating for the company in a research note on Thursday, November 21st. Piper Sandler cut their price objective on Target from $132.00 to $124.00 and set a “neutral” rating on the stock in a report on Wednesday. Wells Fargo & Company dropped their target price on Target from $180.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Finally, Hsbc Global Res cut Target from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Target currently has an average rating of “Hold” and an average price target of $148.23.

Target Trading Down 0.4 %

Shares of Target stock opened at $116.70 on Wednesday. The firm’s 50-day moving average price is $132.91 and its two-hundred day moving average price is $141.92. The company has a market capitalization of $53.47 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 1.94 and a beta of 1.18. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. Target has a 12-month low of $112.53 and a 12-month high of $181.86.

Target (NYSE:TGT) last announced its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.17. Target had a net margin of 4.06% and a return on equity of 31.11%. The business had revenue of $30.92 billion for the quarter, compared to analysts’ expectations of $30.83 billion. On average, analysts forecast that Target will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

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

Institutional Investors Weigh In On Target

A number of hedge funds have recently added to or reduced their stakes in TGT. Legacy Investment Solutions LLC bought a new position in shares of Target in the 3rd quarter worth $28,000. Hopwood Financial Services Inc. acquired a new position in Target during the fourth quarter worth $29,000. Bernard Wealth Management Corp. bought a new position in shares of Target in the fourth quarter valued at $29,000. MCF Advisors LLC grew its holdings in shares of Target by 175.3% during the fourth 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 last quarter. Finally, Raleigh Capital Management Inc. increased its position in shares of Target by 110.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after acquiring an additional 135 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.