Target (NYSE:TGT) Price Target Cut to $155.00 by Analysts at BMO Capital Markets

Target (NYSE:TGT) had its price target cut by BMO Capital Markets from $170.00 to $155.00 in a research note released on Thursday morning, Benzinga reports. They currently have a market perform rating on the retailer’s stock.

A number of other research analysts also recently weighed in on TGT. Royal Bank of Canada decreased their price target on Target from $191.00 to $181.00 and set an outperform rating for the company in a research note on Thursday. Jefferies Financial Group boosted their target price on shares of Target from $195.00 to $205.00 and gave the stock a buy rating in a report on Monday, April 1st. Truist Financial cut their price target on shares of Target from $160.00 to $153.00 and set a hold rating for the company in a research note on Thursday. The Goldman Sachs Group boosted their price objective on shares of Target from $176.00 to $194.00 and gave the stock a buy rating in a research note on Wednesday, March 6th. Finally, Evercore ISI upped their target price on shares of Target from $178.00 to $180.00 in a report on Tuesday, May 21st. Ten research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $180.41.

Target Stock Up 0.6 %

Shares of Target stock opened at $145.23 on Thursday. The firm has a market cap of $67.19 billion, a PE ratio of 16.30, a P/E/G ratio of 1.35 and a beta of 1.16. The business’s 50 day simple moving average is $164.92 and its 200 day simple moving average is $150.13. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.29 and a current ratio of 0.86. Target has a 52-week low of $102.93 and a 52-week high of $181.86.

Target (NYSE:TGT) last announced its earnings results on Wednesday, May 22nd. The retailer reported $2.03 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.02). Target had a return on equity of 31.91% and a net margin of 3.87%. The business had revenue of $24.14 billion for the quarter, compared to analyst estimates of $24.52 billion. During the same quarter in the previous year, the company posted $2.05 EPS. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, analysts predict that Target will post 9.37 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be issued a $1.10 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $4.40 annualized dividend and a yield of 3.03%. Target’s dividend payout ratio is presently 49.38%.

Insider Activity

In related news, insider Christina Hennington sold 4,600 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $170.88, for a total value of $786,048.00. Following the completion of the transaction, the insider now owns 38,487 shares of the company’s stock, valued at $6,576,658.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Christina Hennington sold 4,600 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $170.88, for a total transaction of $786,048.00. Following the sale, the insider now owns 38,487 shares in the company, valued at approximately $6,576,658.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $167.52, for a total value of $7,538,400.00. Following the sale, the insider now owns 346,919 shares of the company’s stock, valued at $58,115,870.88. The disclosure for this sale can be found here. In the last three months, insiders sold 52,600 shares of company stock worth $8,819,598. 0.23% of the stock is currently owned by company insiders.

Institutional Trading of Target

Several large investors have recently bought and sold shares of the business. Washington Trust Advisors Inc. boosted its stake in shares of Target by 56.1% in the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after purchasing an additional 64 shares in the last quarter. Williams Jones Wealth Management LLC. boosted its position in Target by 0.6% in the first quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock valued at $1,909,000 after buying an additional 68 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Target by 1.3% during the fourth quarter. Larson Financial Group LLC now owns 5,339 shares of the retailer’s stock worth $760,000 after buying an additional 70 shares during the last quarter. Godshalk Welsh Capital Management Inc. increased its holdings in shares of Target by 0.9% during the fourth quarter. Godshalk Welsh Capital Management Inc. now owns 8,130 shares of the retailer’s stock worth $1,158,000 after buying an additional 70 shares in the last quarter. Finally, Haverford Trust Co lifted its stake in shares of Target by 0.3% in the 1st quarter. Haverford Trust Co now owns 27,472 shares of the retailer’s stock valued at $4,868,000 after acquiring an additional 70 shares during the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

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.