Target (NYSE:TGT) Given New $120.00 Price Target at BMO Capital Markets

Target (NYSE:TGT) had its price objective decreased by BMO Capital Markets from $160.00 to $120.00 in a research note issued to investors on Thursday morning,Benzinga reports. BMO Capital Markets currently has a market perform rating on the retailer’s stock.

TGT has been the topic of several other research reports. Bank of America lifted their target price on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Sanford C. Bernstein assumed coverage on Target in a research note on Tuesday, October 22nd. They set a “market perform” rating and a $168.00 price objective on the stock. Daiwa Capital Markets upgraded Target from a “neutral” rating to an “outperform” rating and set a $170.00 target price on the stock in a report on Monday, August 26th. TD Cowen upped their price target on Target from $165.00 to $180.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Finally, Oppenheimer dropped their price objective on shares of Target from $200.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $162.13.

Target Trading Up 2.9 %

NYSE:TGT traded up $3.51 during trading hours on Thursday, reaching $125.10. 4,657,427 shares of the company were exchanged, compared to its average volume of 4,305,012. The firm has a market cap of $57.63 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 2.03 and a beta of 1.24. The stock has a 50 day simple moving average of $151.79 and a 200 day simple moving average of $149.92. Target has a 52-week low of $120.21 and a 52-week high of $181.86. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 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 analyst estimates of $25.87 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The business’s revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.10 earnings per share. As a group, analysts predict that Target will post 9.55 EPS for the current year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is 46.28%.

Insider Transactions at Target

In other Target news, insider Richard H. Gomez sold 6,348 shares of Target stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the sale, the insider now owns 123,551 shares of the company’s stock, valued at $19,418,510.67. This trade represents a 4.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the transaction, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The trade was a 12.08 % 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 valued at $8,290,995 over the last 90 days. 0.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On Target

A number of institutional investors have recently added to or reduced their stakes in the company. State Street Corp grew its holdings in Target by 8.3% during the third 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. International Assets Investment Management LLC lifted its position in shares of 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 buying an additional 1,981,458 shares during the last quarter. Boston Partners bought a new position in shares of Target during the 1st quarter worth approximately $335,870,000. Two Sigma Advisers LP increased its holdings in shares of Target by 173.2% during the 3rd quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock worth $369,295,000 after acquiring an additional 1,502,200 shares during the last quarter. Finally, FMR LLC raised its stake in 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. 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.