Target (NYSE:TGT) Stock Price Down 1.6% – Here’s Why

Target Co. (NYSE:TGT)’s share price fell 1.6% on Tuesday . The company traded as low as $93.31 and last traded at $93.16. 1,490,510 shares changed hands during trading, a decline of 73% from the average session volume of 5,552,260 shares. The stock had previously closed at $94.65.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Citigroup reduced their price target on Target from $133.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Guggenheim raised their price target on Target from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. StockNews.com cut Target from a “buy” rating to a “hold” rating in a research report on Thursday, April 10th. Piper Sandler cut their target price on Target from $132.00 to $124.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Finally, Mizuho initiated coverage on Target in a report on Friday. They issued a “neutral” rating and a $92.00 price target for the company. One investment analyst has rated the stock with a sell rating, twenty-one have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $134.57.

Target Trading Down 2.3 %

The firm has a market cap of $42.11 billion, a PE ratio of 9.80, a PEG ratio of 1.94 and a beta of 1.28. 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 business has a 50-day moving average price of $112.19 and a two-hundred day moving average price of $131.26.

Target (NYSE:TGT) last announced its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. The company had revenue of $30.92 billion during the quarter, compared to analysts’ expectations of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Analysts forecast that Target Co. will post 8.69 EPS for the current year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date is Wednesday, May 14th. Target’s dividend payout ratio is presently 50.56%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TGT. Hopwood Financial Services Inc. acquired a new position in Target in the 4th quarter valued at $29,000. Bernard Wealth Management Corp. purchased a new stake in Target in the fourth quarter valued at approximately $29,000. MCF Advisors LLC boosted its holdings in shares of Target by 175.3% in the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after purchasing an additional 163 shares during the last quarter. Raleigh Capital Management Inc. grew its stake in shares of Target by 110.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock valued at $35,000 after buying an additional 135 shares during the period. Finally, Legacy Investment Solutions LLC increased its holdings in shares of Target by 47.5% during the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock worth $35,000 after buying an additional 85 shares during 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.