Citigroup Cuts Target (NYSE:TGT) Price Target to $120.00

Target (NYSE:TGT) had its price objective lowered by Citigroup from $133.00 to $120.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the retailer’s stock.

A number of other analysts have also recently commented on the stock. StockNews.com cut shares of Target from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Gordon Haskett lowered shares of Target from a “buy” rating to a “hold” rating in a research report on Thursday, February 13th. Daiwa Capital Markets cut shares of Target from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $170.00 to $130.00 in a research note on Tuesday, November 26th. Truist Financial upped their price objective on shares of Target from $129.00 to $134.00 and gave the company a “hold” rating in a report on Friday, January 17th. Finally, Telsey Advisory Group reduced their price objective on shares of Target from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Wednesday. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $147.00.

Target Stock Up 0.9 %

Shares of TGT stock opened at $115.11 on Wednesday. The stock has a market cap of $52.74 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18. The business’s fifty day moving average is $132.05 and its 200-day moving average is $141.51. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. Target has a 1 year low of $112.10 and a 1 year high of $181.86.

Target (NYSE:TGT) last posted its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. The business had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Equities analysts expect that Target will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th were given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date was Wednesday, February 12th. Target’s dividend payout ratio is presently 50.56%.

Institutional Trading of Target

Large investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in Target in the fourth quarter valued at $757,892,000. State Street Corp increased its position in shares of Target by 8.3% in the third quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock valued at $5,530,576,000 after buying an additional 2,732,801 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Target in the fourth quarter valued at $297,122,000. Ameriprise Financial Inc. increased its position in shares of Target by 61.2% in the fourth quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer’s stock valued at $536,407,000 after buying an additional 1,506,275 shares in the last quarter. Finally, Two Sigma Advisers LP increased its position 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 in the last quarter. 79.73% of the stock is currently 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.