Target (NYSE:TGT) Stock Price Down 1.3% – Here’s What Happened

Target Co. (NYSE:TGT) shares traded down 1.3% during trading on Tuesday . The company traded as low as $130.62 and last traded at $130.75. 1,128,815 shares were traded during mid-day trading, a decline of 75% from the average session volume of 4,530,779 shares. The stock had previously closed at $132.45.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TGT shares. Daiwa America cut Target from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Oppenheimer restated an “outperform” rating and issued a $165.00 target price on shares of Target in a report on Monday, November 25th. HSBC lowered shares of Target from a “buy” rating to a “hold” rating and set a $138.00 price target on the stock. in a research note on Wednesday, November 20th. Truist Financial raised their price objective on Target from $156.00 to $162.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Finally, Piper Sandler decreased their target price on Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $160.57.

Target Trading Down 0.8 %

The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The business has a fifty day simple moving average of $144.36 and a 200 day simple moving average of $147.08. The stock has a market cap of $60.20 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 2.23 and a beta of 1.17.

Target (NYSE:TGT) last posted its quarterly earnings data 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). Target had a return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. During the same quarter last year, the business earned $2.10 EPS. Target’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, equities analysts anticipate that Target Co. will post 8.6 EPS for the current year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th were issued a dividend of $1.12 per share. The ex-dividend date was Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.41%. Target’s payout ratio is 47.51%.

Insider Transactions at Target

In related news, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the transaction, the insider now directly owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. The trade was a 4.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. State Street Corp boosted its holdings in Target by 8.3% in the third quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock valued at $5,530,576,000 after purchasing an additional 2,732,801 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Target by 9,940.6% in the third quarter. International Assets Investment Management LLC now owns 2,001,391 shares of the retailer’s stock valued at $311,937,000 after acquiring an additional 1,981,458 shares in the last quarter. Two Sigma Advisers LP boosted its stake in Target by 173.2% during the 3rd quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock valued at $369,295,000 after acquiring an additional 1,502,200 shares during the last quarter. FMR LLC grew its holdings in Target by 11.7% during the 3rd quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock worth $1,555,542,000 after acquiring an additional 1,046,044 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Target by 711.2% in the 2nd quarter. AQR Capital Management LLC now owns 876,531 shares of the retailer’s stock worth $129,762,000 after purchasing an additional 768,479 shares during the last quarter. 79.73% of the stock is 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.