Target (NYSE:TGT) Sets New 12-Month Low - Here's What Happened

Key Points

• Target's stock reached a new 52-week low, trading down to $86.30, with analysts giving the company a mix of ratings including ten "Buy" and four "Sell" ratings.
• The company reported an earnings per share (EPS) of $2.05 for the last quarter, slightly above estimates, but revenue declined by 0.9% compared to the previous year.
• Target announced a quarterly dividend increase to $1.14 per share, reflecting a 5.3% yield, with the next payment scheduled for December 1st to stockholders of record as of November 12th.

Target Corporation (NYSE:TGT - Get Free Report)'s stock price reached a new 52-week low during trading on Monday . The company traded as low as $86.30 and last traded at $86.86, with a volume of 3288770 shares changing hands. The stock had previously closed at $88.13.

Analyst Ratings Changes

A number of equities research analysts have recently commented on TGT shares. Bank of America reiterated an "underperform" rating and set a $93.00 price target (down previously from $105.00) on shares of Target in a report on Friday, August 15th. Citigroup increased their price target on shares of Target from $94.00 to $100.00 and gave the company a "neutral" rating in a report on Friday, August 22nd. Evercore ISI cut their price target on shares of Target from $108.00 to $106.00 and set an "in-line" rating on the stock in a report on Thursday, August 21st. Royal Bank Of Canada increased their price target on shares of Target from $104.00 to $107.00 and gave the company an "outperform" rating in a report on Thursday, August 21st. Finally, Barclays reiterated an "underweight" rating and set a $91.00 price target on shares of Target in a report on Monday, July 21st. Nine research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $110.52.

Target Stock Up 1.3%

The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99. The company's fifty day moving average is $98.73 and its 200-day moving average is $98.59. The company has a market cap of $39.86 billion, a PE ratio of 10.19, a PEG ratio of 2.54 and a beta of 1.16.

Target (NYSE:TGT - Get Free Report) last issued its earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.01. The company had revenue of $24.99 billion for the quarter, compared to analysts' expectations of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. The firm's quarterly revenue was down .9% on a year-over-year basis. During the same quarter last year, the company posted $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, analysts predict that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be paid a dividend of $1.14 per share. The ex-dividend date is Wednesday, November 12th. This represents a $4.56 annualized dividend and a dividend yield of 5.2%. This is a boost from Target's previous quarterly dividend of $1.12. Target's dividend payout ratio is 53.15%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Caldwell Trust Co purchased a new position in shares of Target during the 2nd quarter worth $190,000. V. M. Manning & CO. Inc. bought a new stake in shares of Target during the 2nd quarter valued at $1,157,000. Osaic Holdings Inc. raised its position in shares of Target by 4.1% during the 2nd quarter. Osaic Holdings Inc. now owns 217,180 shares of the retailer's stock valued at $21,440,000 after purchasing an additional 8,565 shares during the period. Centaurus Financial Inc. raised its position in shares of Target by 40.9% during the 2nd quarter. Centaurus Financial Inc. now owns 5,561 shares of the retailer's stock valued at $549,000 after purchasing an additional 1,614 shares during the period. Finally, Monarch Capital Management Inc. raised its position in shares of Target by 2.6% during the 2nd quarter. Monarch Capital Management Inc. now owns 14,610 shares of the retailer's stock valued at $1,441,000 after purchasing an additional 375 shares during the period. Hedge funds and other institutional investors 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.