Target (NYSE:TGT) Stock Price Up 1.1% - Here's Why

Target Co. (NYSE:TGT - Get Free Report)'s stock price rose 1.1% during trading on Friday . The stock traded as high as $98.51 and last traded at $96.98. Approximately 1,143,902 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 7,254,373 shares. The stock had previously closed at $95.97.

Analyst Upgrades and Downgrades

TGT has been the subject of a number of research analyst reports. Truist Financial decreased their price target on Target from $124.00 to $82.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company lowered their price target on Target from $150.00 to $135.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. Telsey Advisory Group decreased their target price on Target from $150.00 to $145.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 5th. Roth Capital set a $122.00 price objective on shares of Target in a research report on Wednesday, March 5th. Finally, Jefferies Financial Group decreased their price target on shares of Target from $165.00 to $150.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, twenty-three have given a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Target presently has a consensus rating of "Hold" and a consensus target price of $132.37.

Target Price Performance

The company's 50 day moving average is $100.76 and its 200-day moving average is $124.54. The firm has a market capitalization of $44.55 billion, a price-to-earnings ratio of 10.40, a P/E/G ratio of 1.94 and a beta of 1.27. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.17. The firm had revenue of $30.92 billion for the quarter, compared to analysts' expectations of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Equities research analysts anticipate 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 Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 4.57%. The ex-dividend date is Wednesday, May 14th. Target's payout ratio is presently 50.56%.

Institutional Trading of Target

Several institutional investors and hedge funds have recently modified their holdings of TGT. Bernard Wealth Management Corp. purchased a new stake in shares of Target in the fourth quarter valued at about $30,000. Hopwood Financial Services Inc. bought a new position in shares of Target in the fourth quarter valued at approximately $29,000. MCF Advisors LLC lifted its holdings in Target by 175.3% during the fourth 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. grew its stake in Target by 110.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer's stock valued at $35,000 after purchasing an additional 135 shares during the period. Finally, Legacy Investment Solutions LLC raised its stake in shares of 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 purchasing an additional 85 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

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.