Target (NYSE:TGT) Trading Down 1.8% - Here's Why

Shares of Target Co. (NYSE:TGT - Get Free Report) fell 1.8% on Wednesday . The stock traded as low as $98.94 and last traded at $98.91. 1,580,671 shares were traded during trading, a decline of 79% from the average session volume of 7,396,657 shares. The stock had previously closed at $100.77.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Roth Mkm restated a "neutral" rating and issued a $122.00 price target (down from $131.00) on shares of Target in a research report on Wednesday, March 5th. Royal Bank of Canada dropped their price objective on Target from $112.00 to $103.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. JPMorgan Chase & Co. increased their price target on Target from $105.00 to $109.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Stifel Nicolaus dropped their price target on Target from $130.00 to $120.00 and set a "hold" rating on the stock in a research report on Thursday, March 20th. Finally, Wall Street Zen lowered shares of Target from a "buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $116.70.

Target Stock Up 1.1%

The firm's fifty day simple moving average is $95.25 and its 200 day simple moving average is $115.66. The stock has a market capitalization of $45.07 billion, a price-to-earnings ratio of 10.52, a P/E/G ratio of 1.94 and a beta of 1.22. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94.

Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.65 by ($0.35). Target had a net margin of 4.06% and a return on equity of 31.11%. The business had revenue of $24.20 billion during the quarter, compared to analyst estimates of $24.54 billion. During the same quarter last year, the business earned $2.03 earnings per share. Target's revenue for the quarter was down 2.8% on a year-over-year basis. On average, sell-side analysts forecast that Target Co. will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 4.52%. Target's dividend payout ratio is currently 49.23%.

Insider Buying and Selling at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the transaction, the insider now directly owns 246,453 shares of the company's stock, valued at approximately $23,703,849.54. This trade represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.16% of the company's stock.

Hedge Funds Weigh In On Target

Hedge funds have recently bought and sold shares of the company. Horrell Capital Management Inc. raised its holdings in shares of Target by 0.3% during the 4th quarter. Horrell Capital Management Inc. now owns 26,657 shares of the retailer's stock worth $3,603,000 after buying an additional 76 shares in the last quarter. Fiducient Advisors LLC increased its position in Target by 4.6% during the 4th quarter. Fiducient Advisors LLC now owns 1,778 shares of the retailer's stock worth $240,000 after purchasing an additional 78 shares in the last quarter. Napatree Capital LLC lifted its stake in Target by 2.4% in the 4th quarter. Napatree Capital LLC now owns 3,609 shares of the retailer's stock valued at $488,000 after purchasing an additional 85 shares during the last quarter. Legacy Investment Solutions LLC boosted its position in Target by 47.5% in the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock valued at $35,000 after buying an additional 85 shares in the last quarter. Finally, Bontempo Ohly Capital Mgmt LLC grew its stake in shares of Target by 0.3% during the fourth quarter. Bontempo Ohly Capital Mgmt LLC now owns 28,668 shares of the retailer's stock worth $3,875,000 after buying an additional 85 shares during 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.