The Goldman Sachs Group Cuts Target (NYSE:TGT) Price Target to $90.00

Target (NYSE:TGT - Get Free Report) had its price target reduced by The Goldman Sachs Group from $101.00 to $90.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the retailer's stock. The Goldman Sachs Group's price objective suggests a potential downside of 5.38% from the stock's current price.

A number of other research analysts also recently issued reports on the stock. Bank of America downgraded shares of Target from a "buy" rating to a "neutral" rating and set a $105.00 price target for the company. in a research note on Thursday. Truist Financial boosted their price target on shares of Target from $82.00 to $90.00 and gave the company a "hold" rating in a research report on Thursday. Sanford C. Bernstein cut Target from a "market perform" rating to an "underperform" rating and decreased their target price for the company from $97.00 to $82.00 in a research report on Monday, May 12th. Gordon Haskett downgraded shares of Target from a "buy" rating to a "hold" rating in a research note on Thursday, February 13th. Finally, Barclays dropped their target price on Target from $140.00 to $102.00 and set an "equal weight" rating on the stock in a report on Monday. Two analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Target presently has an average rating of "Hold" and an average price target of $121.74.

Target Trading Up 2.3%

NYSE:TGT traded up $2.11 during trading hours on Thursday, reaching $95.12. 3,442,766 shares of the stock were exchanged, compared to its average volume of 6,016,188. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $43.22 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 1.94 and a beta of 1.27. Target has a twelve month low of $87.35 and a twelve month high of $167.40. The business has a 50-day moving average of $97.70 and a two-hundred day moving average of $120.93.

Target (NYSE:TGT - Get Free Report) last issued 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 business had revenue of $24.20 billion for the quarter, compared to analyst estimates of $24.54 billion. During the same period in the prior year, the company posted $2.03 EPS. The firm's revenue for the quarter was down 2.8% compared to the same quarter last year. On average, equities analysts predict that Target will post 8.69 EPS for the current year.

Institutional Investors Weigh In On Target

Hedge funds and other institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its stake in shares of Target by 407.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer's stock valued at $1,666,672,000 after purchasing an additional 12,825,586 shares during the period. Norges Bank bought a new position in Target in the 4th quarter worth about $757,892,000. Pacer Advisors Inc. boosted its holdings in shares of Target by 1,364.3% in the first quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer's stock valued at $343,312,000 after purchasing an additional 3,065,035 shares during the period. Raymond James Financial Inc. purchased a new position in Target during the 4th quarter worth $297,122,000. Finally, Nuveen LLC bought a new position in shares of Target during the 1st quarter worth $186,361,000. 79.73% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.