Roth Mkm Has Lowered Expectations for Target (NYSE:TGT) Stock Price

Target (NYSE:TGT) had its target price cut by Roth Mkm from $157.00 to $131.00 in a research report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the retailer’s stock.

Several other research analysts have also recently issued reports on TGT. Stifel Nicolaus raised their target price on shares of Target from $147.00 to $165.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. 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 report on Wednesday. UBS Group upped their target price on Target from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Evercore ISI reduced their price target on Target from $170.00 to $165.00 and set an “in-line” rating for the company in a research report on Tuesday, October 22nd. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $195.00 price objective on shares of Target in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $162.13.

Target Stock Performance

TGT stock traded up $3.51 during midday trading on Thursday, reaching $125.10. The stock had a trading volume of 4,657,427 shares, compared to its average volume of 4,305,012. 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 firm has a fifty day simple moving average of $151.79 and a two-hundred day simple moving average of $149.92. The stock has a market cap of $57.63 billion, a PE ratio of 12.57, a P/E/G ratio of 2.03 and a beta of 1.24. Target has a 52-week low of $120.21 and a 52-week high of $181.86.

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

Target Dividend Announcement

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

Insider Transactions at Target

In related 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 directly owns 123,551 shares in the company, valued at approximately $19,418,510.67. This trade represents a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the transaction, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. The trade was a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,348 shares of company stock worth $8,290,995 in the last quarter. 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 business. State Street Corp grew its holdings in shares of Target by 8.3% during the 3rd 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 raised its stake in shares of Target by 11.7% in the 3rd quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock valued at $1,555,542,000 after acquiring an additional 1,046,044 shares during the period. Geode Capital Management LLC raised its stake in shares of 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 acquiring an additional 130,691 shares during the period. Legal & General Group Plc lifted its holdings in shares of Target by 6.8% in the 2nd quarter. Legal & General Group Plc now owns 4,374,851 shares of the retailer’s stock worth $647,652,000 after acquiring an additional 279,656 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Target by 11.4% in the second quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock valued at $639,050,000 after purchasing an additional 440,307 shares during the period. 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.