Target (NYSE:TGT) Price Target Lowered to $120.00 at BMO Capital Markets

Target (NYSE:TGT) had its price objective cut by BMO Capital Markets from $160.00 to $120.00 in a research note published on Thursday morning,Benzinga reports. They currently have a market perform rating on the retailer’s stock.

TGT has been the subject of several other reports. Stifel Nicolaus increased their price objective on Target from $147.00 to $165.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Melius Research began coverage on Target in a research note on Monday, September 23rd. They set a “buy” rating and a $180.00 price target for the company. Roth Mkm decreased their price objective on Target from $157.00 to $131.00 and set a “neutral” rating for the company in a report on Thursday. Jefferies Financial Group upped their price objective on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $195.00 target price on shares of Target in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $162.13.

Target Trading Up 2.8 %

Shares of Target stock opened at $125.01 on Thursday. The stock has a fifty day moving average price of $151.27 and a 200-day moving average price of $149.54. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.27. The firm has a market cap of $57.59 billion, a PE ratio of 13.26, a P/E/G ratio of 1.57 and a beta of 1.24. Target has a 1 year low of $120.21 and a 1 year high of $181.86.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a return on equity of 31.11% and a net margin of 4.06%. The company had revenue of $25.23 billion during the quarter, compared to the consensus estimate of $25.87 billion. During the same period in the prior year, the firm posted $2.10 EPS. The business’s revenue was up .9% on a year-over-year basis. Equities research analysts anticipate that Target will post 9.58 EPS for the current year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.58%. Target’s dividend payout ratio (DPR) is 47.51%.

Insider Activity at Target

In related news, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the transaction, the chief accounting officer now owns 7,276 shares in the company, valued at $1,114,173.88. The trade was a 12.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the sale, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This trade represents a 12.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,348 shares of company stock valued at $8,290,995. Insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Target

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Triad Wealth Partners LLC purchased a new position in Target during the 2nd quarter valued at $25,000. Slocum Gordon & Co LLP bought a new stake in shares of Target during the 2nd quarter valued at about $28,000. Legacy Investment Solutions LLC purchased a new stake in Target in the third quarter worth about $28,000. Hobbs Group Advisors LLC purchased a new position in shares of Target during the 2nd quarter worth approximately $31,000. Finally, Wolff Wiese Magana LLC raised its position in shares of Target by 156.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after acquiring an additional 133 shares in the last quarter. 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.