Target Co. (NYSE:TGT - Get Free Report) shares shot up 4.8% during trading on Tuesday . The company traded as high as $101.80 and last traded at $101.99. 2,739,822 shares changed hands during trading, a decline of 55% from the average session volume of 6,050,829 shares. The stock had previously closed at $97.35.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the company. Evercore ISI reduced their price target on Target from $130.00 to $120.00 and set an "in-line" rating on the stock in a research report on Tuesday, April 1st. Mizuho cut their price target on shares of Target from $92.00 to $88.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. BMO Capital Markets decreased their price objective on shares of Target from $100.00 to $95.00 and set a "market perform" rating for the company in a report on Thursday, May 22nd. Royal Bank of Canada cut their target price on shares of Target from $112.00 to $103.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Finally, Baird R W cut shares of Target from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. One analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $116.70.
View Our Latest Report on Target
Target Price Performance
The firm has a market cap of $43.28 billion, a P/E ratio of 10.10, a PEG ratio of 1.94 and a beta of 1.22. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The company's 50-day moving average is $95.35 and its two-hundred day moving average is $115.44.
Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.35). Target had a return on equity of 31.11% and a net margin of 4.06%. The firm had revenue of $24.20 billion for the quarter, compared to analyst estimates of $24.54 billion. During the same quarter in the prior year, the business posted $2.03 EPS. The business's revenue was down 2.8% on a year-over-year basis. Sell-side analysts anticipate that Target Co. will post 8.69 EPS for the current fiscal year.
Target Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 4.70%. Target's dividend payout ratio is currently 49.23%.
Insider Buying and Selling
In other news, insider Brian C. Cornell sold 45,000 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total value of $4,328,100.00. Following the completion of the transaction, the insider now owns 246,453 shares of the company's stock, valued at $23,703,849.54. This represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Target
A number of institutional investors have recently made changes to their positions in the stock. 1248 Management LLC acquired a new stake in Target during the 1st quarter valued at approximately $46,000. Bontempo Ohly Capital Mgmt LLC increased its position in shares of Target by 7.6% during the first quarter. Bontempo Ohly Capital Mgmt LLC now owns 30,845 shares of the retailer's stock worth $3,219,000 after buying an additional 2,177 shares during the period. Invst LLC increased its position in shares of Target by 1.2% during the first quarter. Invst LLC now owns 10,373 shares of the retailer's stock worth $1,083,000 after buying an additional 118 shares during the period. Strs Ohio acquired a new position in Target in the first quarter valued at $48,371,000. Finally, Ellsworth Advisors LLC boosted its position in Target by 8.0% during the first quarter. Ellsworth Advisors LLC now owns 38,828 shares of the retailer's stock valued at $4,052,000 after acquiring an additional 2,883 shares during the last quarter. Institutional investors own 79.73% of the company's stock.
About Target
(
Get Free Report)
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.
Further Reading
Before you consider Target, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Target wasn't on the list.
While Target currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
