Target (NYSE:TGT) Price Target Cut to $145.00 by Analysts at TD Cowen

Target (NYSE:TGT) had its price target trimmed by TD Cowen from $165.00 to $145.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a hold rating on the retailer’s stock.

Several other equities analysts have also issued reports on TGT. Truist Financial boosted their target price on Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. BMO Capital Markets lowered their target price on shares of Target from $160.00 to $120.00 and set a “market perform” rating for the company in a research note on Thursday. JPMorgan Chase & Co. reduced their price target on shares of Target from $167.00 to $139.00 and set a “neutral” rating on the stock in a research report on Thursday. Guggenheim lowered their price objective on shares of Target from $180.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Stifel Nicolaus lifted their target price on Target from $147.00 to $165.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Target presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.13.

Target Stock Up 2.8 %

Shares of NYSE:TGT opened at $125.01 on Thursday. The company has a 50 day moving average of $151.27 and a 200-day moving average of $149.54. Target has a one year low of $120.21 and a one year high of $181.86. The stock has a market cap of $57.59 billion, a price-to-earnings ratio of 13.26, a P/E/G ratio of 1.57 and a beta of 1.24. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.27.

Target (NYSE:TGT) last issued its 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). Target had a net margin of 4.06% and a return on equity of 31.11%. The business had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. During the same quarter in the previous year, the firm posted $2.10 EPS. The business’s revenue was up .9% on a year-over-year basis. On average, sell-side analysts forecast that Target will post 9.58 earnings per share for the current year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be paid a $1.12 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 annualized dividend and a dividend yield of 3.58%. Target’s dividend payout ratio is presently 47.51%.

Insider Buying and Selling

In related news, insider Richard H. Gomez sold 6,348 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the sale, the insider now owns 123,551 shares in the company, valued at approximately $19,418,510.67. This represents a 4.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. This trade represents a 12.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,348 shares of company stock worth $8,290,995. Insiders own 0.15% of the company’s stock.

Institutional Trading of Target

Several hedge funds and other institutional investors have recently modified their holdings of TGT. TAP Consulting LLC bought a new position in Target during the 3rd quarter worth $2,403,000. Olstein Capital Management L.P. increased its position in Target by 8.7% during the third quarter. Olstein Capital Management L.P. now owns 50,000 shares of the retailer’s stock worth $7,793,000 after acquiring an additional 4,000 shares during the period. Smead Capital Management Inc. increased its position in Target by 3.4% during the third quarter. Smead Capital Management Inc. now owns 1,243,928 shares of the retailer’s stock worth $193,879,000 after acquiring an additional 41,394 shares during the period. Janus Henderson Group PLC raised its stake in Target by 20.5% in the 1st quarter. Janus Henderson Group PLC now owns 217,214 shares of the retailer’s stock worth $38,484,000 after purchasing an additional 36,941 shares in the last quarter. Finally, CFS Investment Advisory Services LLC bought a new stake in Target in the 3rd quarter valued at about $1,937,000. 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.