Target (NYSE:TGT) Downgraded by Deutsche Bank Aktiengesellschaft to Hold

Deutsche Bank Aktiengesellschaft cut shares of Target (NYSE:TGT) from a buy rating to a hold rating in a research report sent to investors on Wednesday, Marketbeat.com reports. Deutsche Bank Aktiengesellschaft currently has $108.00 price target on the retailer’s stock, down from their prior price target of $184.00.

A number of other equities analysts have also recently issued reports on the stock. Melius Research initiated coverage on shares of Target in a research report on Monday, September 23rd. They set a “buy” rating and a $180.00 target price for the company. Daiwa Capital Markets raised Target from a “neutral” rating to an “outperform” rating and set a $170.00 target price on the stock in a research note on Monday, August 26th. Royal Bank of Canada increased their target price on Target from $174.00 to $177.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Wells Fargo & Company boosted their price target on Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. increased their price objective on Target from $153.00 to $167.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Target presently has an average rating of “Moderate Buy” and an average target price of $162.13.

Target Stock Performance

TGT opened at $125.01 on Wednesday. Target has a 1-year low of $120.21 and a 1-year high of $181.86. The stock has a market cap of $57.59 billion, a P/E ratio of 12.91, a P/E/G ratio of 2.03 and a beta of 1.24. The stock’s 50 day simple moving average is $151.27 and its 200 day simple moving average is $149.69. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27.

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

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio is presently 46.28%.

Insider Buying and Selling

In other news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction dated Tuesday, August 27th. The stock was 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 owns 303,843 shares in the company, valued at approximately $48,210,768.81. This trade represents a 12.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the transaction, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. This trade represents a 4.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 52,348 shares of company stock valued at $8,290,995. Company insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Target

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

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.