Target (NYSE:TGT) Trading Down 0.5% – Here’s What Happened

Target Co. (NYSE:TGT)’s share price traded down 0.5% on Monday . The stock traded as low as $90.25 and last traded at $95.21. 4,401,409 shares traded hands during trading, a decline of 18% from the average session volume of 5,348,471 shares. The stock had previously closed at $95.72.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on TGT shares. StockNews.com upgraded Target from a “hold” rating to a “buy” rating in a research note on Wednesday, April 2nd. Jefferies Financial Group reduced their price objective on Target from $165.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. UBS Group decreased their target price on Target from $170.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Roth Capital set a $122.00 price target on shares of Target in a report on Wednesday, March 5th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of Target in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, nineteen have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $136.03.

Target Price Performance

The firm has a market capitalization of $44.38 billion, a P/E ratio of 10.33, a PEG ratio of 1.94 and a beta of 1.28. 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 business’s 50-day simple moving average is $116.37 and its 200 day simple moving average is $133.38.

Target (NYSE:TGT) last issued its earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, topping 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 company had revenue of $30.92 billion for the quarter, compared to analysts’ expectations of $30.83 billion. Sell-side analysts forecast that Target Co. will post 8.69 earnings per share for the current year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 4.60%. The ex-dividend date is Wednesday, May 14th. Target’s dividend payout ratio is presently 50.56%.

Hedge Funds Weigh In On Target

Large investors have recently bought and sold shares of the stock. Nicholas Company Inc. increased its stake in shares of Target by 20.5% in the fourth quarter. Nicholas Company Inc. now owns 55,810 shares of the retailer’s stock worth $7,544,000 after buying an additional 9,485 shares during the period. River Road Asset Management LLC grew its holdings in Target by 144.9% in the 4th quarter. River Road Asset Management LLC now owns 234,492 shares of the retailer’s stock worth $31,699,000 after acquiring an additional 138,751 shares during the last quarter. Mountain Hill Investment Partners Corp. purchased a new position in shares of Target in the fourth quarter valued at about $6,459,000. Sierra Summit Advisors LLC raised its stake in shares of Target by 29.0% during the fourth quarter. Sierra Summit Advisors LLC now owns 14,354 shares of the retailer’s stock valued at $1,940,000 after acquiring an additional 3,231 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its holdings in shares of Target by 25.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer’s stock worth $2,430,000 after purchasing an additional 3,590 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

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.