Truist Financial Lowers Target (NYSE:TGT) Price Target to $153.00

Target (NYSE:TGT) had its price objective cut by Truist Financial from $160.00 to $153.00 in a research report released on Thursday, Benzinga reports. They currently have a hold rating on the retailer’s stock.

A number of other research firms have also weighed in on TGT. UBS Group reaffirmed a buy rating and set a $174.00 target price on shares of Target in a report on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Target from $206.00 to $209.00 in a report on Tuesday, May 21st. Jefferies Financial Group raised their price target on shares of Target from $195.00 to $205.00 and gave the company a buy rating in a report on Monday, April 1st. Stifel Nicolaus increased their price objective on Target from $153.00 to $177.00 and gave the stock a hold rating in a research report on Wednesday, March 6th. Finally, Morgan Stanley reduced their target price on Target from $190.00 to $180.00 and set an overweight rating for the company in a research report on Thursday. Ten analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Target has a consensus rating of Moderate Buy and an average price target of $180.41.

Target Price Performance

TGT opened at $145.23 on Thursday. The company has a market capitalization of $67.19 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 1.35 and a beta of 1.16. The company has a quick ratio of 0.29, a current ratio of 0.86 and a debt-to-equity ratio of 0.97. The firm has a 50-day moving average price of $164.92 and a 200-day moving average price of $150.13. Target has a twelve month low of $102.93 and a twelve month high of $181.86.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, May 22nd. The retailer reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). The business had revenue of $24.14 billion during the quarter, compared to analysts’ expectations of $24.52 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.05 earnings per share. Equities analysts expect that Target will post 9.37 EPS for the current year.

Target Announces Dividend

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

Insider Buying and Selling at Target

In other news, insider Melissa K. Kremer sold 3,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $165.05, for a total transaction of $495,150.00. Following the completion of the sale, the insider now owns 30,527 shares of the company’s stock, valued at $5,038,481.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Melissa K. Kremer sold 3,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $165.05, for a total transaction of $495,150.00. Following the completion of the transaction, the insider now directly owns 30,527 shares of the company’s stock, valued at $5,038,481.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Christina Hennington sold 4,600 shares of the firm’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 sale, the insider now directly owns 38,487 shares in the company, valued at $6,576,658.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,600 shares of company stock worth $8,819,598. 0.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Target

Several hedge funds have recently made changes to their positions in the business. Ables Iannone Moore & Associates Inc. bought a new stake in Target in the fourth quarter valued at $28,000. Rakuten Securities Inc. bought a new position in Target in the 4th quarter worth $29,000. Private Wealth Management Group LLC purchased a new stake in shares of Target in the 4th quarter worth about $29,000. Scarborough Advisors LLC bought a new stake in shares of Target during the 4th quarter valued at about $29,000. Finally, Godsey & Gibb Inc. increased its position in shares of Target by 148.6% during the first quarter. Godsey & Gibb Inc. now owns 174 shares of the retailer’s stock valued at $31,000 after buying an additional 104 shares during the period. 79.73% of the stock is owned by hedge funds and other 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.