Target (NYSE:TGT) Reaches New 1-Year Low on Analyst Downgrade

Target Co. (NYSE:TGT)’s stock price hit a new 52-week low on Friday after Stifel Nicolaus lowered their price target on the stock from $130.00 to $120.00. Stifel Nicolaus currently has a hold rating on the stock. Target traded as low as $101.76 and last traded at $103.29, with a volume of 1332691 shares changing hands. The stock had previously closed at $104.20.

Several other research firms also recently commented on TGT. Hsbc Global Res downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 20th. DA Davidson lowered their target price on shares of Target from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. JPMorgan Chase & Co. lowered their target price on shares of Target from $146.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Sanford C. Bernstein reissued a “market perform” rating on shares of Target in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group lowered their target price on shares of Target from $166.00 to $142.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Target has an average rating of “Hold” and an average target price of $145.55.

Institutional Trading of Target

A number of large investors have recently made changes to their positions in TGT. Thrivent Financial for Lutherans boosted its stake in shares of Target by 1.8% during the third quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock valued at $4,368,000 after purchasing an additional 490 shares during the period. Advisors Asset Management Inc. lifted its stake in Target by 7.1% in the third quarter. Advisors Asset Management Inc. now owns 23,400 shares of the retailer’s stock worth $3,647,000 after acquiring an additional 1,551 shares during the period. Cypress Capital Group lifted its stake in Target by 2.9% in the third quarter. Cypress Capital Group now owns 5,548 shares of the retailer’s stock worth $865,000 after acquiring an additional 155 shares during the period. LPL Financial LLC lifted its stake in Target by 3.1% in the third quarter. LPL Financial LLC now owns 704,168 shares of the retailer’s stock worth $109,752,000 after acquiring an additional 21,241 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Target by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,053,471 shares of the retailer’s stock worth $475,914,000 after acquiring an additional 56,695 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Trading Up 0.1 %

The stock’s 50 day moving average is $125.89 and its two-hundred day moving average is $138.13. The company has a market capitalization of $47.51 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last released its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $30.92 billion during the quarter, compared to analyst estimates of $30.83 billion. As a group, sell-side analysts predict that Target Co. will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s payout ratio is 50.56%.

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.