TD Cowen Cuts Target (NYSE:TGT) Price Target to $145.00

Target (NYSE:TGT) had its price target trimmed by TD Cowen from $165.00 to $145.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has a hold rating on the retailer’s stock.

A number of other research firms have also issued reports on TGT. Wells Fargo & Company reduced their price target on shares of Target from $180.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Bank of America cut their target price on shares of Target from $195.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday. Royal Bank of Canada boosted their price target on shares of Target from $174.00 to $177.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Citigroup lowered Target from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $188.00 to $130.00 in a report on Wednesday, November 20th. Finally, Roth Mkm lowered their target price on Target from $157.00 to $131.00 and set a “neutral” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $162.13.

Target Trading Up 2.8 %

Shares of TGT opened at $125.01 on Thursday. The business’s 50-day moving average price is $151.27 and its 200 day moving average price is $149.54. The company has a current ratio of 0.94, a quick ratio of 0.27 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $57.59 billion, a P/E ratio of 13.26, a P/E/G ratio of 1.57 and a beta of 1.24. Target has a 1-year low of $120.21 and a 1-year high of $181.86.

Target (NYSE:TGT) last released its quarterly 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). Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. During the same quarter in the prior year, the firm earned $2.10 EPS. The firm’s revenue was up .9% compared to the same quarter last year. Analysts expect that Target will post 9.58 earnings per share for the current year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is presently 47.51%.

Insiders Place Their Bets

In other news, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the sale, the insider now owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. This trade represents a 4.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the transaction, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The trade was a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,348 shares of company stock worth $8,290,995 in the last ninety days. Insiders own 0.15% of the company’s stock.

Institutional Trading of Target

Institutional investors have recently made changes to their positions in the business. Triad Wealth Partners LLC bought a new stake in Target in the second quarter valued at $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Target in the 3rd quarter valued at $28,000. Slocum Gordon & Co LLP bought a new stake in shares of Target in the 2nd quarter worth about $28,000. Hobbs Group Advisors LLC acquired a new stake in shares of Target during the 2nd quarter worth about $31,000. Finally, Wolff Wiese Magana LLC increased its position in shares of Target by 156.5% during 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. 79.73% of the stock is currently 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.