Target (NYSE:TGT) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Target (NYSE:TGT) from a buy rating to a hold rating in a research report report published on Friday morning.

Several other analysts also recently weighed in on TGT. Roth Mkm dropped their price objective on Target from $157.00 to $131.00 and set a “neutral” rating for the company in a research report on Thursday, November 21st. Hsbc Global Res downgraded Target from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Wells Fargo & Company lowered their price objective on Target from $180.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. TD Cowen lowered their price objective on Target from $165.00 to $145.00 and set a “hold” rating for the company in a research report on Thursday, November 21st. Finally, Daiwa Capital Markets cut Target from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $170.00 to $130.00 in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $157.70.

Target Stock Performance

NYSE:TGT opened at $127.86 on Friday. The stock has a fifty day moving average price of $135.11 and a 200-day moving average price of $143.18. The company has a market cap of $58.59 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 2.04 and a beta of 1.15. 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 has a fifty-two week low of $120.21 and a fifty-two week high of $181.86.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share 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 business had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. During the same quarter in the prior year, the company earned $2.10 earnings per share. Target’s quarterly revenue was up .9% compared to the same quarter last year. As a group, equities analysts anticipate that Target will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be issued a dividend of $1.12 per share. The ex-dividend date is Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a yield of 3.50%. Target’s dividend payout ratio (DPR) is currently 47.51%.

Institutional Trading of Target

Several hedge funds have recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new position in shares of Target in the third quarter valued at $28,000. Bernard Wealth Management Corp. purchased a new position in shares of Target in the 4th quarter worth about $30,000. Hopwood Financial Services Inc. purchased a new position in shares of Target in the 4th quarter worth about $29,000. Wolff Wiese Magana LLC boosted 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 in the last quarter. Finally, FSA Wealth Management LLC bought a new stake in shares of Target in the 3rd quarter valued at about $36,000. 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.