Target (NYSE:TGT) Stock Price Up 0.4% – Here’s Why

Target Co. (NYSE:TGT)’s share price was up 0.4% during trading on Wednesday . The stock traded as high as $132.67 and last traded at $132.40. Approximately 1,647,679 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 4,559,011 shares. The stock had previously closed at $131.92.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Citigroup downgraded Target from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $188.00 to $130.00 in a research report on Wednesday, November 20th. Telsey Advisory Group reiterated an “outperform” rating and set a $195.00 price target on shares of Target in a research report on Wednesday, November 20th. Hsbc Global Res downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Daiwa Capital Markets cut shares of Target from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $170.00 to $130.00 in a research report on Tuesday, November 26th. Finally, StockNews.com lowered Target from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Target presently has a consensus rating of “Hold” and a consensus target price of $160.57.

Target Price Performance

The company has a market capitalization of $62.50 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 2.23 and a beta of 1.17. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The company’s 50 day simple moving average is $140.43 and its 200 day simple moving average is $146.15.

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 company had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Target’s revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.10 earnings per share. As a group, sell-side analysts predict that Target Co. will post 8.6 earnings per share for the current year.

Institutional Investors Weigh In On Target

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp raised its position in Target by 8.3% in the 3rd 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 increased its stake 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 purchasing an additional 1,981,458 shares during the period. Two Sigma Advisers LP raised its holdings in shares of Target by 173.2% in the third quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock valued at $369,295,000 after buying an additional 1,502,200 shares during the last quarter. FMR LLC boosted its stake in shares of Target by 11.7% during the third quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock worth $1,555,542,000 after buying an additional 1,046,044 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of Target by 711.2% during the second quarter. AQR Capital Management LLC now owns 876,531 shares of the retailer’s stock worth $129,762,000 after buying an additional 768,479 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

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.