Stifel Nicolaus Lowers Target (NYSE:TGT) Price Target to $137.00

Target (NYSE:TGT) had its price target lowered by Stifel Nicolaus from $165.00 to $137.00 in a research note published on Thursday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the retailer’s stock.

A number of other analysts also recently issued reports on the stock. BMO Capital Markets dropped their price objective on shares of Target from $160.00 to $120.00 and set a “market perform” rating for the company in a report on Thursday. Piper Sandler dropped their price target on Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research note on Thursday. Oppenheimer reduced their price objective on Target from $200.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. TD Cowen dropped their target price on Target from $165.00 to $145.00 and set a “hold” rating for the company in a research report on Thursday. Finally, Roth Mkm reduced their price target on shares of Target from $157.00 to $131.00 and set a “neutral” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $162.13.

Target Price Performance

Shares of NYSE TGT opened at $125.01 on Thursday. The stock’s 50-day simple moving average is $151.27 and its two-hundred day simple moving average is $149.54. Target has a twelve month low of $120.21 and a twelve month high of $181.86. The firm 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. The company has a quick ratio of 0.27, a current ratio of 0.94 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last posted 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 company had revenue of $25.23 billion during the quarter, compared to the consensus estimate of $25.87 billion. During the same quarter last year, the company posted $2.10 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. As a group, equities analysts anticipate that Target will post 9.58 EPS for the current fiscal year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a dividend yield of 3.58%. Target’s dividend payout ratio is 47.51%.

Insider Activity

In other Target news, insider Richard H. Gomez sold 6,348 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the completion of the transaction, the insider now owns 123,551 shares in the company, valued at approximately $19,418,510.67. This represents a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the sale, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. This trade represents a 12.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,348 shares of company stock valued at $8,290,995. Corporate insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TGT. Covestor Ltd raised its stake in Target by 43.7% during the first quarter. Covestor Ltd now owns 352 shares of the retailer’s stock valued at $62,000 after buying an additional 107 shares during the last quarter. EP Wealth Advisors LLC boosted its stake in Target by 9.0% in the 1st quarter. EP Wealth Advisors LLC now owns 9,108 shares of the retailer’s stock worth $1,614,000 after purchasing an additional 750 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of Target during the first quarter valued at approximately $245,000. Lazard Asset Management LLC boosted its stake in Target by 6.2% during the 1st quarter. Lazard Asset Management LLC now owns 303,593 shares of the retailer’s stock valued at $53,799,000 after purchasing an additional 17,748 shares during the last quarter. Finally, Kestra Advisory Services LLC raised its stake in shares of Target by 4.1% in the first quarter. Kestra Advisory Services LLC now owns 84,656 shares of the retailer’s stock worth $15,002,000 after purchasing an additional 3,370 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors.

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.