Target (NYSE:TGT) Stock Rating Lowered by Hsbc Global Res

Hsbc Global Res downgraded shares of Target (NYSE:TGT) from a strong-buy rating to a hold rating in a report released on Wednesday morning,Zacks.com reports.

A number of other research firms have also issued reports on TGT. Jefferies Financial Group boosted their price target on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Citigroup lowered Target from a “buy” rating to a “neutral” rating and reduced their target price for the company from $188.00 to $130.00 in a report on Wednesday. UBS Group lifted their price target on Target from $185.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Daiwa America raised Target to a “strong-buy” rating in a research note on Monday, August 26th. Finally, Wells Fargo & Company decreased their price objective on Target from $180.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Target has an average rating of “Moderate Buy” and a consensus price target of $162.13.

Target Trading Down 0.0 %

Shares of NYSE:TGT opened at $121.66 on Wednesday. The stock has a market capitalization of $56.05 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 2.03 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. The company has a 50 day moving average price of $151.79 and a 200 day moving average price of $149.92. Target has a 1-year low of $120.21 and a 1-year high of $181.86.

Target (NYSE:TGT) last announced its earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.45). The company had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the company earned $2.10 earnings per share. On average, research analysts anticipate that Target will post 9.55 EPS for the current fiscal year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a yield of 3.68%. Target’s dividend payout ratio is 46.28%.

Insider Buying and Selling at Target

In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the transaction, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. This represents a 12.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the sale, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This trade represents a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,348 shares of company stock worth $8,290,995. 0.15% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Target

Several institutional investors have recently modified their holdings of TGT. Triad Wealth Partners LLC bought a new position in Target in the second quarter valued at approximately $25,000. Slocum Gordon & Co LLP acquired a new position in shares of Target in the 2nd quarter valued at $28,000. Legacy Investment Solutions LLC bought a new position in shares of Target in the 3rd quarter worth $28,000. Hobbs Group Advisors LLC acquired a new stake in shares of Target during the second quarter worth $31,000. Finally, Wolff Wiese Magana LLC increased its holdings in Target by 156.5% in the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after purchasing an additional 133 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

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.