Target (NYSE:TGT) Sets New 12-Month Low – Here’s Why

Target Co. (NYSE:TGT)’s stock price reached a new 52-week low on Monday . The company traded as low as $90.25 and last traded at $91.11, with a volume of 1362320 shares traded. The stock had previously closed at $95.72.

Analyst Ratings Changes

Several research analysts recently commented on TGT shares. Truist Financial lowered their price target on Target from $134.00 to $124.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. UBS Group dropped their price target on Target from $170.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Roth Capital set a $122.00 price objective on shares of Target in a report on Wednesday, March 5th. Roth Mkm reaffirmed a “neutral” rating and issued a $122.00 target price (down from $131.00) on shares of Target in a research report on Wednesday, March 5th. Finally, Telsey Advisory Group reduced their price target on shares of Target from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $137.48.

Target Stock Down 2.0 %

The company’s 50 day moving average price is $119.41 and its two-hundred day moving average price is $134.60. The firm has a market cap of $42.73 billion, a PE ratio of 9.96, a PEG ratio of 1.94 and a beta of 1.28. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last released its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.17. Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $30.92 billion for the quarter, compared to analysts’ expectations of $30.83 billion. On average, equities research analysts expect that Target Co. will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a yield of 4.78%. Target’s dividend payout ratio is currently 50.56%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TGT. EP Wealth Advisors LLC lifted its holdings in shares of Target by 33.8% in the 3rd quarter. EP Wealth Advisors LLC now owns 18,806 shares of the retailer’s stock worth $2,931,000 after acquiring an additional 4,754 shares during the last quarter. National Bank of Canada FI boosted its position in shares of Target by 37.1% during the third quarter. National Bank of Canada FI now owns 440,664 shares of the retailer’s stock valued at $68,682,000 after buying an additional 119,214 shares during the period. Bontempo Ohly Capital Mgmt LLC grew its stake in shares of Target by 0.5% during the third quarter. Bontempo Ohly Capital Mgmt LLC now owns 28,583 shares of the retailer’s stock valued at $4,455,000 after buying an additional 146 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in shares of Target in the third quarter worth approximately $28,000. Finally, MML Investors Services LLC lifted its stake in shares of Target by 4.8% during the 3rd quarter. MML Investors Services LLC now owns 85,826 shares of the retailer’s stock worth $13,377,000 after acquiring an additional 3,896 shares during 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.