Target (NYSE:TGT) Hits New 52-Week Low - Here's Why

Key Points

• Target Corporation's shares hit a new 52-week low, trading as low as $86.04 during recent trading, reflecting ongoing challenges in the market.
• Analysts have varied opinions on Target, with recent price target adjustments including a reduction from $102.00 to $83.00 by Truist Financial, while UBS Group maintained a "buy" rating with a target at $130.00.
• Target announced an increase in its quarterly dividend to $1.14 per share, representing a yield of 5.3% and a payout ratio of 53.15%.

Target Corporation (NYSE:TGT - Get Free Report) shares hit a new 52-week low during trading on Friday . The stock traded as low as $86.04 and last traded at $86.34, with a volume of 5933295 shares trading hands. The stock had previously closed at $89.10.

Analysts Set New Price Targets

Several analysts have commented on TGT shares. Loop Capital set a $95.00 target price on Target in a research note on Thursday, July 17th. Piper Sandler reiterated a "neutral" rating on shares of Target in a research note on Tuesday, July 29th. Truist Financial lowered their price target on Target from $102.00 to $83.00 and set a "hold" rating on the stock in a report on Thursday, October 2nd. UBS Group lowered their price target on Target from $135.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday, August 21st. Finally, Wall Street Zen raised Target from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. Nine research analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $109.65.

Target Trading Down 3.0%

The stock has a fifty day moving average of $94.76 and a 200 day moving average of $97.09. The company has a market capitalization of $39.27 billion, a P/E ratio of 10.04, a PEG ratio of 2.62 and a beta of 1.18. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99.

Target (NYSE:TGT - Get Free Report) last announced its earnings results on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, topping analysts' consensus estimates of $2.04 by $0.01. Target had a return on equity of 23.43% and a net margin of 3.72%.The company had revenue of $24.99 billion for the quarter, compared to analysts' expectations of $24.84 billion. During the same period last year, the firm earned $2.57 EPS. Target's revenue for the quarter was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, equities research analysts anticipate that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be issued a dividend of $1.14 per share. This is a boost from Target's previous quarterly dividend of $1.12. This represents a $4.56 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend is Wednesday, November 12th. Target's payout ratio is 53.15%.

Institutional Investors Weigh In On Target

A number of institutional investors and hedge funds have recently bought and sold shares of the business. JNBA Financial Advisors raised its holdings in Target by 3.0% during the second quarter. JNBA Financial Advisors now owns 3,347 shares of the retailer's stock valued at $330,000 after acquiring an additional 96 shares during the period. Pin Oak Investment Advisors Inc. grew its position in shares of Target by 32.3% during the second quarter. Pin Oak Investment Advisors Inc. now owns 401 shares of the retailer's stock valued at $41,000 after purchasing an additional 98 shares in the last quarter. OMERS ADMINISTRATION Corp grew its position in shares of Target by 0.6% during the second quarter. OMERS ADMINISTRATION Corp now owns 17,618 shares of the retailer's stock valued at $1,738,000 after purchasing an additional 100 shares in the last quarter. Raleigh Capital Management Inc. grew its position in shares of Target by 63.4% during the second quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer's stock valued at $26,000 after purchasing an additional 102 shares in the last quarter. Finally, Guardian Wealth Advisors LLC grew its position in shares of Target by 2.6% during the first quarter. Guardian Wealth Advisors LLC now owns 4,043 shares of the retailer's stock valued at $422,000 after purchasing an additional 104 shares in the last quarter. 79.73% of the stock is owned by institutional investors.

About Target

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.

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