Target (NYSE:TGT) Downgraded by Robert W. Baird to Neutral

Robert W. Baird lowered shares of Target (NYSE:TGT) from an outperform rating to a neutral rating in a research report report published on Monday morning, MarketBeat.com reports. The firm currently has $110.00 price objective on the retailer’s stock.

A number of other analysts have also weighed in on TGT. Piper Sandler lowered their target price on Target from $132.00 to $124.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. Truist Financial decreased their price objective on Target from $134.00 to $124.00 and set a “hold” rating for the company in a research note on Wednesday, March 5th. DA Davidson dropped their price objective on Target from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. KGI Securities set a $132.00 target price on shares of Target in a report on Wednesday, March 5th. Finally, Wells Fargo & Company lowered their price target on shares of Target from $150.00 to $135.00 and set an “overweight” rating on the stock in a 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $137.48.

Target Stock Performance

Shares of Target stock opened at $94.23 on Monday. Target has a 12 month low of $90.25 and a 12 month high of $173.05. The stock’s fifty day moving average price is $118.45 and its 200-day moving average price is $134.16. The firm has a market cap of $42.93 billion, a P/E ratio of 9.99, a P/E/G 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 posted its earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS 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 business had revenue of $30.92 billion for the quarter, compared to the consensus estimate of $30.83 billion. On average, equities research analysts expect that Target will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 4.75%. The ex-dividend date is Wednesday, May 14th. Target’s dividend payout ratio (DPR) is currently 50.56%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TGT. Legacy Investment Solutions LLC purchased a new stake in shares of Target in the third quarter worth about $28,000. Bernard Wealth Management Corp. acquired a new stake in Target during the 4th quarter worth $30,000. Hopwood Financial Services Inc. purchased a new position in Target during the fourth quarter worth about $29,000. MCF Advisors LLC boosted its position in shares of Target by 175.3% during the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after purchasing an additional 163 shares during the period. Finally, Raleigh Capital Management Inc. increased its holdings in Target by 110.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock valued at $35,000 after purchasing an additional 135 shares during the last quarter. Hedge funds and other 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.