Target (NYSE:TGT) Stock Price Down 0.1% – Here’s What Happened

Target Co. (NYSE:TGT)’s share price dropped 0.1% during trading on Friday . The company traded as low as $129.35 and last traded at $130.30. Approximately 1,663,344 shares changed hands during trading, a decline of 63% from the average daily volume of 4,549,193 shares. The stock had previously closed at $130.43.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Daiwa Capital Markets downgraded Target from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $170.00 to $130.00 in a report on Tuesday, November 26th. Roth Mkm lowered their target price on shares of Target from $157.00 to $131.00 and set a “neutral” rating for the company in a research note on Thursday, November 21st. Citigroup lowered Target from a “buy” rating to a “neutral” rating and cut their target price for the company from $188.00 to $130.00 in a research report on Wednesday, November 20th. Sanford C. Bernstein initiated coverage on Target in a report on Tuesday, October 22nd. They set a “market perform” rating and a $168.00 price target on the stock. Finally, Stifel Nicolaus boosted their target price on shares of Target from $137.00 to $145.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $160.57.

Target Trading Up 0.8 %

The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The company has a market capitalization of $60.25 billion, a P/E ratio of 13.94, a price-to-earnings-growth ratio of 2.23 and a beta of 1.17. The firm has a fifty day moving average price of $142.98 and a 200-day moving average price of $146.69.

Target (NYSE:TGT) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the company earned $2.10 EPS. On average, equities research analysts anticipate that Target Co. will post 8.6 earnings per share for the current year.

Insiders Place Their Bets

In other Target news, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. The trade was a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Target

Large investors have recently added to or reduced their stakes in the company. State Street Corp boosted its position in Target by 8.3% during the third quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock worth $5,530,576,000 after purchasing an additional 2,732,801 shares during the period. FMR LLC boosted its holdings in Target by 11.7% in the 3rd quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock worth $1,555,542,000 after buying an additional 1,046,044 shares during the period. Geode Capital Management LLC grew its stake in Target by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 9,414,025 shares of the retailer’s stock valued at $1,461,456,000 after buying an additional 130,691 shares in the last quarter. Legal & General Group Plc grew its stake in Target by 6.8% in the 2nd quarter. Legal & General Group Plc now owns 4,374,851 shares of the retailer’s stock valued at $647,652,000 after buying an additional 279,656 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Target by 11.4% during the 2nd quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock valued at $639,050,000 after acquiring an additional 440,307 shares during the period. Hedge funds and other institutional investors 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.