Target (NYSE:TGT) Rating Lowered to Neutral at Daiwa Capital Markets

Target (NYSE:TGT) was downgraded by research analysts at Daiwa Capital Markets from an “outperform” rating to a “neutral” rating in a report released on Tuesday, MarketBeat.com reports. They currently have a $130.00 price objective on the retailer’s stock, down from their previous price objective of $170.00. Daiwa Capital Markets’ target price suggests a potential downside of 0.08% from the company’s current price.

Several other analysts also recently issued reports on TGT. Royal Bank of Canada raised their price objective on shares of Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. HSBC downgraded shares of Target from a “buy” rating to a “hold” rating and set a $138.00 price objective for the company. in a research note on Wednesday, November 20th. Truist Financial raised their price objective on shares of Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Melius Research started coverage on shares of Target in a research note on Monday, September 23rd. They issued a “buy” rating and a $180.00 price objective for the company. Finally, TD Cowen decreased their price objective on shares of Target from $165.00 to $145.00 and set a “hold” rating for the company in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $160.30.

Target Stock Up 2.8 %

Shares of NYSE:TGT opened at $130.11 on Tuesday. 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 has a 12 month low of $120.21 and a 12 month high of $181.86. The company has a 50-day moving average price of $149.84 and a 200 day moving average price of $148.92. The company has a market cap of $59.94 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 2.14 and a beta of 1.24.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The business had revenue of $25.23 billion during the quarter, compared to the consensus estimate of $25.87 billion. During the same period in the previous year, the business posted $2.10 EPS. The firm’s revenue was up .9% on a year-over-year basis. As a group, equities research analysts predict that Target will post 8.6 earnings per share for the current year.

Insider Buying and Selling at Target

In other Target news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $157.17, for a total value of $997,715.16. Following the completion of the sale, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. This trade represents a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the sale, the chief accounting officer now directly owns 7,276 shares in the company, valued at $1,114,173.88. This trade represents a 12.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by insiders.

Hedge Funds Weigh In On Target

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TGT. State Street Corp increased its holdings in shares of Target by 8.3% in the third quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock valued at $5,530,576,000 after purchasing an additional 2,732,801 shares during the period. FMR LLC increased its holdings in Target by 11.7% in the 3rd quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock worth $1,555,542,000 after buying an additional 1,046,044 shares during the period. Geode Capital Management LLC raised its position in Target by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,414,025 shares of the retailer’s stock worth $1,461,456,000 after buying an additional 130,691 shares during the last quarter. Legal & General Group Plc lifted its stake in Target by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 4,374,851 shares of the retailer’s stock valued at $647,652,000 after acquiring an additional 279,656 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of Target by 11.4% in the 2nd quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock valued at $639,050,000 after acquiring an additional 440,307 shares during the last quarter. Hedge funds and other 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.