Target (NYSE:TGT) Stock Price Down 1.3% – Here’s Why

Target Co. (NYSE:TGT)’s share price dropped 1.3% during mid-day trading on Tuesday . The company traded as low as $130.62 and last traded at $130.75. Approximately 1,128,815 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 4,530,779 shares. The stock had previously closed at $132.45.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Hsbc Global Res downgraded Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Jefferies Financial Group boosted their price objective on Target from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. StockNews.com lowered Target from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 21st. Piper Sandler lowered their price target on shares of Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research report on Thursday, November 21st. Finally, Sanford C. Bernstein started coverage on shares of Target in a research report on Tuesday, October 22nd. They issued a “market perform” rating and a $168.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $160.57.

Target Stock Performance

The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The firm’s fifty day moving average price is $144.36 and its 200 day moving average price is $147.08. The firm has a market capitalization of $60.20 billion, a PE ratio of 13.87, a PEG ratio of 2.23 and a beta of 1.17.

Target (NYSE:TGT) last issued its earnings results 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). The firm had revenue of $25.23 billion during the quarter, compared to analyst estimates of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the company earned $2.10 earnings per share. On average, research analysts anticipate that Target Co. will post 8.6 earnings per share for the current year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th were paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date was Wednesday, November 20th. Target’s dividend payout ratio (DPR) is presently 47.51%.

Insiders Place Their Bets

In other Target news, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 123,551 shares of the company’s stock, valued at $19,418,510.67. The trade was a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Legacy Investment Solutions LLC bought a new position in shares of Target in the third quarter valued at approximately $28,000. Slocum Gordon & Co LLP acquired a new position in Target during the 2nd quarter worth $28,000. Hobbs Group Advisors LLC acquired a new position in Target during the 2nd quarter worth $31,000. Wolff Wiese Magana LLC boosted its holdings in Target by 156.5% during the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after acquiring an additional 133 shares during the period. Finally, FSA Wealth Management LLC acquired a new stake in shares of Target in the third quarter valued at about $36,000. 79.73% of the stock is 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.