Target (NYSE:TGT) Trading Down 1.4% – Here’s What Happened

Target Co. (NYSE:TGT)’s share price was down 1.4% on Monday . The stock traded as low as $129.62 and last traded at $129.70. Approximately 729,663 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 4,556,797 shares. The stock had previously closed at $131.48.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TGT shares. Bank of America lowered their price target on Target from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Hsbc Global Res cut shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. HSBC cut shares of Target from a “buy” rating to a “hold” rating and set a $138.00 price objective for the company. in a research report on Wednesday, November 20th. Piper Sandler cut their target price on shares of Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research note on Thursday, November 21st. Finally, 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 research note on Wednesday, November 20th. 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 company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $160.57.

Target Stock Performance

The firm’s fifty day moving average is $142.44 and its 200-day moving average is $146.51. 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 stock has a market capitalization of $60.05 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 2.23 and a beta of 1.17.

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). The company had revenue of $25.23 billion during the quarter, compared to analysts’ expectations of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Target’s revenue was up .9% on a year-over-year basis. During the same period last year, the firm posted $2.10 earnings per share. As a group, research analysts anticipate that Target Co. will post 8.6 earnings per share for the current year.

Insider Transactions at Target

In related news, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the sale, the insider now directly owns 123,551 shares of the company’s stock, valued at $19,418,510.67. This represents a 4.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Target

Several institutional investors have recently modified their holdings of the business. Cynosure Group LLC increased its holdings in shares of Target by 4.3% in the third quarter. Cynosure Group LLC now owns 1,590 shares of the retailer’s stock valued at $248,000 after buying an additional 65 shares in the last quarter. Financial Advocates Investment Management grew its holdings in shares of Target by 1.2% in the 3rd quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock worth $894,000 after acquiring an additional 67 shares during the last quarter. Hancock Whitney Corp raised its position in shares of Target by 3.3% during the third quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock worth $336,000 after purchasing an additional 68 shares during the period. Integral Investment Advisors Inc. lifted its holdings in shares of Target by 5.3% during the second quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock valued at $203,000 after purchasing an additional 69 shares during the last quarter. Finally, Trust Co. of Vermont boosted its position in shares of Target by 0.4% in the 3rd quarter. Trust Co. of Vermont now owns 15,678 shares of the retailer’s stock valued at $2,444,000 after purchasing an additional 69 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

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.