Target (NYSE:TGT) Hits New 52-Week Low – Here’s Why

Target Co. (NYSE:TGT) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $100.50 and last traded at $102.26, with a volume of 1019566 shares trading hands. The stock had previously closed at $103.65.

Wall Street Analyst Weigh In

Several research firms have commented on TGT. Guggenheim raised their price objective on Target from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. The Goldman Sachs Group cut their price target on Target from $166.00 to $142.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Citigroup lowered their price objective on shares of Target from $133.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. Sanford C. Bernstein reissued a “market perform” rating on shares of Target in a research report on Wednesday, March 5th. Finally, Jefferies Financial Group lowered their price target on shares of Target from $165.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Target has an average rating of “Hold” and an average price target of $143.40.

Target Trading Down 0.3 %

The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The company’s 50-day moving average price is $122.96 and its 200-day moving average price is $136.39. The firm has a market cap of $47.09 billion, a price-to-earnings ratio of 10.96, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18.

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

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 annualized dividend and a yield of 4.33%. Target’s dividend payout ratio is presently 50.56%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TGT. Kathmere Capital Management LLC boosted its stake in Target by 3.0% during the fourth quarter. Kathmere Capital Management LLC now owns 2,541 shares of the retailer’s stock worth $343,000 after buying an additional 73 shares during the last quarter. Horrell Capital Management Inc. grew its holdings in shares of Target by 0.3% in the fourth quarter. Horrell Capital Management Inc. now owns 26,657 shares of the retailer’s stock valued at $3,603,000 after purchasing an additional 76 shares during the period. Fiducient Advisors LLC increased its position in Target by 4.6% during the fourth quarter. Fiducient Advisors LLC now owns 1,778 shares of the retailer’s stock worth $240,000 after purchasing an additional 78 shares during the last quarter. First PREMIER Bank raised its stake in Target by 21.9% during the fourth quarter. First PREMIER Bank now owns 445 shares of the retailer’s stock worth $61,000 after purchasing an additional 80 shares during the period. Finally, Winch Advisory Services LLC grew its stake in shares of Target by 34.5% in the 4th quarter. Winch Advisory Services LLC now owns 320 shares of the retailer’s stock valued at $43,000 after buying an additional 82 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

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.