Target (NYSE:TGT) Trading 0.4% Higher – Here’s What Happened

Target Co. (NYSE:TGT) shares rose 0.4% during mid-day trading on Thursday . The stock traded as high as $131.77 and last traded at $131.26. Approximately 791,647 shares changed hands during trading, a decline of 83% from the average daily volume of 4,543,121 shares. The stock had previously closed at $130.70.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TGT. Melius Research initiated coverage on Target in a research report on Monday, September 23rd. They issued a “buy” rating and a $180.00 price objective for the company. Stifel Nicolaus lifted their price target on shares of Target from $137.00 to $145.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. StockNews.com lowered shares of Target from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 21st. Sanford C. Bernstein assumed coverage on shares of Target in a report on Tuesday, October 22nd. They set a “market perform” rating and a $168.00 target price for the company. Finally, BMO Capital Markets dropped their target price on shares of Target from $160.00 to $120.00 and set a “market perform” rating for the company in a research report on Thursday, November 21st. One research 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. Based on data from MarketBeat, Target has an average rating of “Hold” and an average price target of $160.57.

Target Trading Up 0.8 %

The company has a market cap of $60.25 billion, a P/E ratio of 13.94, a PEG ratio of 2.23 and a beta of 1.17. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The business has a 50 day moving average price of $142.44 and a 200-day moving average price of $146.54.

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

Insiders Place Their Bets

In other news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the sale, the insider now owns 123,551 shares in the company, valued at approximately $19,418,510.67. This trade represents a 4.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Target

Several hedge funds have recently bought and sold shares of TGT. Cynosure Group LLC boosted its stake in Target by 4.3% during the third quarter. Cynosure Group LLC now owns 1,590 shares of the retailer’s stock worth $248,000 after acquiring an additional 65 shares in the last quarter. Financial Advocates Investment Management boosted its position in shares of Target by 1.2% in the 3rd quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock worth $894,000 after purchasing an additional 67 shares in the last quarter. Hancock Whitney Corp grew its stake in shares of Target by 3.3% in the 3rd quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock worth $336,000 after buying an additional 68 shares during the last quarter. Beacon Capital Management LLC grew its stake in shares of Target by 20.8% in the 2nd quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock worth $59,000 after buying an additional 69 shares during the last quarter. Finally, Integral Investment Advisors Inc. raised its stake in Target by 5.3% during the second quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock valued at $203,000 after buying an additional 69 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

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.