Target (NYSE:TGT) Trading Up 0.3% – Here’s What Happened

Target Co. (NYSE:TGT)’s share price rose 0.3% on Tuesday . The stock traded as high as $132.39 and last traded at $132.38. Approximately 438,331 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 4,553,791 shares. The stock had previously closed at $131.92.

Analyst Ratings Changes

TGT has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft downgraded Target from a “buy” rating to a “hold” rating and lowered their price objective for the company from $184.00 to $108.00 in a research report on Wednesday, November 20th. Bank of America dropped their price objective on shares of Target from $195.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Wells Fargo & Company reduced their price objective on shares of Target from $180.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. HSBC downgraded Target from a “buy” rating to a “hold” rating and set a $138.00 price objective for the company. in a report on Wednesday, November 20th. Finally, Citigroup downgraded Target from a “buy” rating to a “neutral” rating and lowered their target price for the company from $188.00 to $130.00 in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $160.57.

Target Stock Up 0.4 %

The company has a market cap of $60.67 billion, a P/E ratio of 14.04, a PEG ratio of 2.23 and a beta of 1.17. The firm’s 50-day simple moving average is $140.82 and its 200 day simple moving average is $146.22. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94.

Target (NYSE:TGT) last released its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The company had revenue of $25.23 billion during the quarter, compared to analyst estimates of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Target’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.10 EPS. On average, research analysts forecast that Target Co. will post 8.6 earnings per share for the current fiscal 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 dated Friday, September 27th. The shares were sold at an average price of $157.17, for a total value of $997,715.16. Following the transaction, the insider now directly owns 123,551 shares of the company’s stock, valued at $19,418,510.67. This trade represents a 4.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.15% of the company’s stock.

Institutional Trading of Target

Several hedge funds and other institutional investors have recently made changes to their positions in TGT. Slocum Gordon & Co LLP acquired a new stake in Target during the 2nd quarter worth about $28,000. Legacy Investment Solutions LLC bought a new position in Target during the third quarter valued at about $28,000. Wolff Wiese Magana LLC raised its holdings 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 purchasing an additional 133 shares during the period. FSA Wealth Management LLC purchased a new position in shares of Target during the 3rd quarter valued at $36,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Target during the second quarter worth about $37,000. 79.73% of the stock is currently owned by institutional investors.

About Target

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.