Target (NYSE:TGT) Shares Gap Down – What’s Next?

Target Co. (NYSE:TGT)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $134.53, but opened at $128.52. Target shares last traded at $129.98, with a volume of 2,430,555 shares changing hands.

Analyst Upgrades and Downgrades

TGT has been the topic of a number of analyst reports. TD Cowen lowered their price objective on shares of Target from $165.00 to $145.00 and set a “hold” rating on the stock in a research report on Thursday, November 21st. JPMorgan Chase & Co. decreased their target price on shares of Target from $167.00 to $139.00 and set a “neutral” rating on the stock in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft lowered shares of Target from a “buy” rating to a “hold” rating and decreased their target price for the stock from $184.00 to $108.00 in a research report on Wednesday, November 20th. Daiwa Capital Markets lowered shares of Target from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $170.00 to $130.00 in a research report on Tuesday, November 26th. Finally, Oppenheimer restated an “outperform” rating and set a $165.00 target price on shares of Target in a research report on Monday, November 25th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $158.23.

Target Stock Performance

The stock’s 50-day moving average is $136.45 and its 200-day moving average is $145.23. The stock has a market cap of $61.22 billion, a price-to-earnings ratio of 14.17, a P/E/G ratio of 2.32 and a beta of 1.16. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last posted its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The business had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the company posted $2.10 EPS. On average, analysts expect that Target Co. will post 8.6 EPS for the current year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Wednesday, February 12th. Target’s dividend payout ratio is presently 47.51%.

Hedge Funds Weigh In On Target

Several institutional investors and hedge funds have recently made changes to their positions in the business. Cynosure Group LLC boosted its stake in shares of Target by 4.3% during the 3rd quarter. Cynosure Group LLC now owns 1,590 shares of the retailer’s stock valued at $248,000 after buying an additional 65 shares during the last quarter. Financial Advocates Investment Management increased its position in Target by 1.2% in the third quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock worth $894,000 after buying an additional 67 shares during the period. Hancock Whitney Corp increased its holdings in shares of Target by 3.3% during the third quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock valued at $336,000 after purchasing an additional 68 shares during the period. Trust Co. of Vermont increased its holdings in shares of Target by 0.4% during the third quarter. Trust Co. of Vermont now owns 15,678 shares of the retailer’s stock valued at $2,444,000 after purchasing an additional 69 shares during the period. Finally, Eagle Bluffs Wealth Management LLC increased its holdings in shares of Target by 1.1% during the third quarter. Eagle Bluffs Wealth Management LLC now owns 6,818 shares of the retailer’s stock valued at $1,063,000 after purchasing an additional 73 shares during the period. 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.