Target (NYSE:TGT) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Target (NYSE:TGT) from a buy rating to a hold rating in a research note published on Monday.

A number of other equities research analysts have also recently issued reports on the stock. Daiwa Capital Markets cut shares of Target from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $170.00 to $130.00 in a research report on Tuesday, November 26th. Guggenheim upped their price target on Target from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Citigroup raised their price objective on shares of Target from $130.00 to $133.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Truist Financial boosted their target price on Target from $129.00 to $134.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Finally, Bank of America lowered their price objective on shares of Target from $195.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Target has a consensus rating of “Hold” and a consensus price target of $157.93.

Target Stock Performance

NYSE:TGT opened at $120.28 on Monday. Target has a 12-month low of $119.92 and a 12-month high of $181.86. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The firm has a 50-day moving average price of $133.54 and a 200 day moving average price of $142.28. The firm has a market capitalization of $55.11 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 1.94 and a beta of 1.15.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th were paid a $1.12 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $4.48 annualized dividend and a yield of 3.72%. Target’s dividend payout ratio is 47.51%.

Institutional Investors Weigh In On Target

Several hedge funds have recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC acquired a new stake in Target during the 3rd quarter worth approximately $28,000. Bernard Wealth Management Corp. acquired a new stake in Target in the fourth quarter valued at about $30,000. Hopwood Financial Services Inc. bought a new stake in shares of Target during the 4th quarter valued at approximately $29,000. FSA Wealth Management LLC bought a new stake in shares of Target during the third quarter worth $36,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Target in the 3rd quarter worth about $38,000. Institutional investors and hedge funds 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.