Target (NYSE:TGT) Reaches New 52-Week Low - What's Next?

Target Co. (NYSE:TGT - Get Free Report) hit a new 52-week low on Wednesday . The stock traded as low as $94.23 and last traded at $96.70, with a volume of 8219112 shares changing hands. The stock had previously closed at $96.91.

Analysts Set New Price Targets

Several brokerages recently weighed in on TGT. Telsey Advisory Group cut their price objective on shares of Target from $150.00 to $145.00 and set an "outperform" rating on the stock in a report on Wednesday, March 5th. Truist Financial cut their price objective on shares of Target from $124.00 to $82.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. Citigroup cut their price objective on shares of Target from $120.00 to $95.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Gordon Haskett lowered shares of Target from a "buy" rating to a "hold" rating in a report on Thursday, February 13th. Finally, Wells Fargo & Company cut their price objective on shares of Target from $150.00 to $135.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $132.37.

Target Stock Performance

The company has a market capitalization of $44.05 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 1.94 and a beta of 1.28. The stock has a 50-day moving average price of $103.72 and a 200-day moving average price of $126.70. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25.

Target (NYSE:TGT - Get Free Report) last announced its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, topping analysts' consensus estimates of $2.24 by $0.17. The company had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. As a group, analysts forecast that Target Co. will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be paid a dividend of $1.12 per share. The ex-dividend date is Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.63%. Target's dividend payout ratio (DPR) is currently 50.56%.

Hedge Funds Weigh In On Target

Hedge funds have recently added to or reduced their stakes in the stock. Bernard Wealth Management Corp. bought a new position in Target during the 4th quarter worth $30,000. Hopwood Financial Services Inc. bought a new position in Target during the 4th quarter worth $29,000. MCF Advisors LLC increased its stake in Target by 175.3% during the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer's stock worth $35,000 after acquiring an additional 163 shares during the period. Raleigh Capital Management Inc. increased its stake in Target by 110.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer's stock worth $35,000 after acquiring an additional 135 shares during the period. Finally, Legacy Investment Solutions LLC increased its stake in Target by 47.5% during the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock worth $35,000 after acquiring an additional 85 shares during the period. 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.

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