Target (NYSE:TGT) Price Target Cut to $124.00 by Analysts at Piper Sandler

Target (NYSE:TGT) had its target price lowered by Piper Sandler from $132.00 to $124.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a neutral rating on the retailer’s stock.

Several other equities analysts have also recently issued reports on TGT. Evercore ISI dropped their price objective on shares of Target from $135.00 to $130.00 and set an “in-line” rating on the stock in a research note on Wednesday. Jefferies Financial Group dropped their price target on shares of Target from $165.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday. 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 report on Friday, January 17th. Deutsche Bank Aktiengesellschaft cut Target from a “buy” rating to a “hold” rating and dropped their target price for the stock from $184.00 to $108.00 in a research report on Wednesday, November 20th. Finally, StockNews.com cut Target from a “buy” rating to a “hold” rating in a report on Monday. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $148.23.

Target Trading Down 0.4 %

NYSE TGT opened at $116.70 on Wednesday. Target has a one year low of $112.53 and a one year high of $181.86. The firm has a market cap of $53.47 billion, a PE ratio of 12.38, a P/E/G ratio of 1.94 and a beta of 1.18. The firm’s fifty day moving average is $132.91 and its two-hundred day moving average is $141.92. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94.

Target (NYSE:TGT) last posted its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, beating the consensus estimate of $2.24 by $0.17. Target had a return on equity of 31.11% and a net margin of 4.06%. The firm had revenue of $30.92 billion during the quarter, compared to the consensus estimate of $30.83 billion. Analysts expect that Target will post 8.69 earnings per share for the current year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Wednesday, February 12th were issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date of this dividend was Wednesday, February 12th. Target’s payout ratio is currently 50.56%.

Institutional Investors Weigh In On Target

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new stake in Target during the 3rd quarter worth approximately $49,000. Impax Asset Management Group plc grew its stake in Target by 8.6% during the third quarter. Impax Asset Management Group plc now owns 241,447 shares of the retailer’s stock worth $37,632,000 after buying an additional 19,095 shares during the period. Catalyst Capital Advisors LLC purchased a new position in shares of Target in the 3rd quarter valued at $38,000. Central Bank & Trust Co. lifted its holdings in shares of Target by 6.2% during the 3rd quarter. Central Bank & Trust Co. now owns 2,283 shares of the retailer’s stock valued at $356,000 after acquiring an additional 134 shares in the last quarter. Finally, Crestwood Advisors Group LLC boosted its position in Target by 11.0% during the 3rd quarter. Crestwood Advisors Group LLC now owns 11,267 shares of the retailer’s stock worth $1,756,000 after purchasing an additional 1,114 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

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.