Target (NYSE:TGT) PT Lowered to $165.00

Target (NYSE:TGT) had its price target reduced by Evercore ISI from $170.00 to $165.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the retailer’s stock.

TGT has been the topic of a number of other research reports. Roth Mkm lifted their price objective on Target from $153.00 to $157.00 and gave the company a “neutral” rating in a report on Thursday, August 22nd. Telsey Advisory Group reaffirmed an “outperform” rating and set a $195.00 price objective on shares of Target in a report on Thursday, September 19th. Piper Sandler started coverage on Target in a report on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 target price for the company. Daiwa Capital Markets upgraded shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 price target for the company in a report on Monday, August 26th. Finally, Stifel Nicolaus boosted their price objective on shares of Target from $147.00 to $165.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Target presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.47.

Target Price Performance

Target stock opened at $151.16 on Tuesday. The business has a 50 day simple moving average of $153.24 and a 200-day simple moving average of $152.22. Target has a 12 month low of $105.23 and a 12 month 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. The stock has a market capitalization of $69.93 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 1.99 and a beta of 1.24.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. The company had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. Target’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.80 EPS. Equities analysts predict that Target will post 9.53 earnings per share for the current year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a yield of 2.96%. Target’s payout ratio is currently 50.28%.

Insider Buying and Selling at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the sale, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the transaction, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at $1,114,173.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the transaction, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 52,348 shares of company stock worth $8,290,995. Insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Washington Trust Advisors Inc. increased its stake in Target by 56.1% during the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock worth $32,000 after acquiring an additional 64 shares during the last quarter. Financial Advocates Investment Management grew its holdings in shares of Target by 1.2% during the 3rd quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock worth $894,000 after purchasing an additional 67 shares during the period. Williams Jones Wealth Management LLC. increased its position in Target by 0.6% during the 1st quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock worth $1,909,000 after purchasing an additional 68 shares in the last quarter. Beacon Capital Management LLC raised its holdings in Target by 20.8% in the second quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock valued at $59,000 after buying an additional 69 shares during the period. Finally, Integral Investment Advisors Inc. lifted its position in Target by 5.3% during the second quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock valued at $203,000 after buying an additional 69 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other 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.