Target (NYSE:TGT) PT Lowered to $185.00 at UBS Group

Target (NYSE:TGT) had its target price cut by UBS Group from $191.00 to $185.00 in a research note released on Thursday morning, Benzinga reports. They currently have a buy rating on the retailer’s stock.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. increased their price objective on Target from $125.00 to $157.00 and gave the company a neutral rating in a research report on Friday, March 1st. Truist Financial reduced their price target on shares of Target from $160.00 to $153.00 and set a hold rating for the company in a research note on Thursday. Citigroup raised shares of Target from a neutral rating to a buy rating and set a $180.00 price objective for the company in a report on Tuesday, May 7th. Royal Bank of Canada dropped their target price on shares of Target from $191.00 to $181.00 and set an outperform rating on the stock in a report on Thursday. Finally, Guggenheim boosted their target price on shares of Target from $160.00 to $190.00 and gave the company a buy rating in a research note on Wednesday, March 6th. Ten research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $180.41.

Target Stock Up 0.6 %

Shares of NYSE:TGT opened at $145.23 on Thursday. Target has a 12-month low of $102.93 and a 12-month high of $181.86. The stock has a market capitalization of $67.19 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 1.35 and a beta of 1.16. The stock has a fifty day simple moving average of $164.92 and a two-hundred day simple moving average of $150.13. The company has a current ratio of 0.86, a quick ratio of 0.29 and a debt-to-equity ratio of 0.97.

Target (NYSE:TGT) last posted 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). The company had revenue of $24.14 billion during the quarter, compared to analysts’ expectations of $24.52 billion. Target had a return on equity of 31.91% and a net margin of 3.87%. Target’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.05 EPS. On average, research analysts anticipate that Target will post 9.37 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be given a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $4.40 annualized dividend and a dividend yield of 3.03%. Target’s payout ratio is 49.38%.

Insider Transactions at Target

In related news, insider Melissa K. Kremer sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $165.05, for a total value of $495,150.00. Following the transaction, the insider now directly owns 30,527 shares of the company’s stock, valued at approximately $5,038,481.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Target news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction on Monday, March 11th. The shares were sold at an average price of $167.52, for a total value of $7,538,400.00. Following the sale, the insider now directly owns 346,919 shares in the company, valued at approximately $58,115,870.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Melissa K. Kremer sold 3,000 shares of the business’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 owns 30,527 shares in the company, valued at approximately $5,038,481.35. The disclosure for this sale can be found here. Insiders sold a total of 52,600 shares of company stock valued at $8,819,598 over the last 90 days. Company insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On Target

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Target by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 44,945,524 shares of the retailer’s stock worth $6,401,142,000 after acquiring an additional 417,818 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Target by 9.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,163,864 shares of the retailer’s stock valued at $1,447,538,000 after purchasing an additional 868,274 shares in the last quarter. Franklin Resources Inc. increased its position in Target by 1.5% in the fourth quarter. Franklin Resources Inc. now owns 9,531,846 shares of the retailer’s stock worth $1,357,525,000 after purchasing an additional 137,180 shares during the last quarter. FMR LLC raised its stake in Target by 26.5% during the third quarter. FMR LLC now owns 6,762,227 shares of the retailer’s stock valued at $747,699,000 after purchasing an additional 1,415,900 shares in the last quarter. Finally, Norges Bank bought a new position in Target during the fourth quarter valued at $759,810,000. 79.73% of the stock is owned by institutional investors.

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.