Target (NYSE:TGT) Sets New 52-Week Low – What’s Next?

Target Co. (NYSE:TGT) shares hit a new 52-week low during trading on Monday . The company traded as low as $100.50 and last traded at $102.26, with a volume of 1019566 shares traded. The stock had previously closed at $103.65.

Analyst Ratings Changes

Several research firms recently commented on TGT. KGI Securities set a $132.00 price target on Target in a research report on Wednesday, March 5th. Evercore ISI reduced their target price on Target from $130.00 to $120.00 and set an “in-line” rating for the company in a research note on Tuesday. Jefferies Financial Group decreased their price target on Target from $165.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Telsey Advisory Group reduced their target price on Target from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. Finally, Gordon Haskett lowered Target from a “buy” rating to a “hold” rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $142.90.

Target Stock Performance

The company’s 50 day simple moving average is $121.72 and its 200 day simple moving average is $135.75. The stock has a market cap of $47.55 billion, a price-to-earnings ratio of 11.07, a PEG ratio of 1.94 and a beta of 1.18. 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 posted its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.17. The business had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. On average, equities research analysts anticipate that Target Co. will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 annualized dividend and a dividend yield of 4.29%. Target’s dividend payout ratio (DPR) is 50.56%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. State Street Corp grew its stake in shares of Target by 8.3% in the 3rd quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock worth $5,530,576,000 after purchasing an additional 2,732,801 shares during the last quarter. Capital World Investors grew its position in Target by 6.3% in the fourth quarter. Capital World Investors now owns 21,930,569 shares of the retailer’s stock worth $2,964,565,000 after buying an additional 1,306,552 shares during the last quarter. FMR LLC increased its holdings in shares of Target by 13.6% in the fourth quarter. FMR LLC now owns 11,338,729 shares of the retailer’s stock valued at $1,532,769,000 after buying an additional 1,358,348 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Target by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 9,885,015 shares of the retailer’s stock valued at $1,332,317,000 after acquiring an additional 470,990 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Target during the 4th quarter worth $757,892,000. 79.73% of the stock is owned by institutional investors and hedge funds.

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.