Truist Financial Trims Target (NYSE:TGT) Target Price to $153.00

Target (NYSE:TGT) had its target price cut by Truist Financial from $160.00 to $153.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a hold rating on the retailer’s stock.

Several other research analysts have also recently commented on TGT. The Goldman Sachs Group increased their price target on Target from $176.00 to $194.00 and gave the company a buy rating in a research report on Wednesday, March 6th. TheStreet raised Target from a c+ rating to a b- rating in a report on Monday, March 4th. Tigress Financial boosted their target price on shares of Target from $180.00 to $210.00 and gave the stock a buy rating in a report on Wednesday, March 27th. Royal Bank of Canada upped their price target on shares of Target from $157.00 to $191.00 and gave the stock an outperform rating in a research report on Wednesday, March 6th. Finally, Barclays lifted their price objective on shares of Target from $142.00 to $169.00 and gave the company an equal weight rating in a research report on Wednesday, March 6th. Ten investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $180.41.

Target Price Performance

NYSE TGT opened at $145.23 on Thursday. The firm’s 50 day moving average is $164.92 and its 200-day moving average is $150.13. The company has a quick ratio of 0.29, a current ratio of 0.86 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $67.19 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 1.35 and a beta of 1.16. Target has a 12-month low of $102.93 and a 12-month high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.02). Target had a net margin of 3.87% and a return on equity of 31.91%. The business had revenue of $24.14 billion during the quarter, compared to analyst estimates of $24.52 billion. During the same quarter in the previous year, the firm posted $2.05 earnings per share. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. Equities research analysts anticipate that Target will post 9.37 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Tuesday, May 14th. Target’s dividend payout ratio (DPR) is currently 49.38%.

Insiders Place Their Bets

In other news, insider Melissa K. Kremer sold 3,000 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $165.05, for a total transaction of $495,150.00. Following the completion of the sale, the insider now directly owns 30,527 shares in the company, valued at approximately $5,038,481.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Christina Hennington sold 4,600 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $170.88, for a total transaction of $786,048.00. Following the sale, the insider now owns 38,487 shares in the company, valued at approximately $6,576,658.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Melissa K. Kremer sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $165.05, for a total transaction of $495,150.00. Following the transaction, the insider now owns 30,527 shares of the company’s stock, valued at $5,038,481.35. The disclosure for this sale can be found here. Insiders have sold a total of 52,600 shares of company stock worth $8,819,598 in the last 90 days. Company insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On Target

Hedge funds and other institutional investors have recently modified their holdings of the business. Cetera Advisors LLC lifted its position in shares of Target by 142.4% during the 1st quarter. Cetera Advisors LLC now owns 60,879 shares of the retailer’s stock worth $10,788,000 after buying an additional 35,759 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Target by 163.6% in the first quarter. Cetera Investment Advisers now owns 168,426 shares of the retailer’s stock worth $29,847,000 after acquiring an additional 104,529 shares during the last quarter. Invst LLC boosted its stake in shares of Target by 33.5% in the 1st quarter. Invst LLC now owns 11,586 shares of the retailer’s stock valued at $2,060,000 after purchasing an additional 2,908 shares in the last quarter. Swedbank AB bought a new stake in shares of Target during the 1st quarter valued at approximately $107,367,000. Finally, Sanibel Captiva Trust Company Inc. increased its position in Target by 15.5% during the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 56,850 shares of the retailer’s stock worth $10,074,000 after purchasing an additional 7,639 shares in the last quarter. 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.