Target (NYSE:TGT) Stock Price Down 4.9% – Here’s What Happened

Target Co. (NYSE:TGT)’s stock price traded down 4.9% during mid-day trading on Thursday . The stock traded as low as $92.07 and last traded at $92.87. 2,623,407 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 5,466,733 shares. The stock had previously closed at $97.69.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. KGI Securities set a $132.00 target price on Target in a research report on Wednesday, March 5th. The Goldman Sachs Group lowered their price objective on shares of Target from $166.00 to $142.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. JPMorgan Chase & Co. reduced their price target on shares of Target from $146.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. Truist Financial dropped their price objective on shares of Target from $124.00 to $82.00 and set a “hold” rating on the stock in a research note on Tuesday. Finally, UBS Group reduced their price objective on shares of Target from $170.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, twenty-one have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Target currently has a consensus rating of “Hold” and a consensus target price of $134.57.

Target Stock Up 0.1 %

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 has a market capitalization of $42.26 billion, a price-to-earnings ratio of 9.84, a P/E/G ratio of 1.94 and a beta of 1.28. The business’s 50-day moving average is $113.01 and its 200-day moving average is $131.86.

Target (NYSE:TGT) last issued its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.17. The business had revenue of $30.92 billion during the quarter, compared to analysts’ expectations of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. As a group, equities analysts predict that Target Co. will post 8.69 earnings per share for the current year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be given a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.83%. Target’s dividend payout ratio (DPR) is currently 50.56%.

Hedge Funds Weigh In On Target

A number of hedge funds have recently bought and sold shares of the business. Kathmere Capital Management LLC increased its position 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 in the last quarter. Horrell Capital Management Inc. increased its position in Target by 0.3% during the 4th quarter. Horrell Capital Management Inc. now owns 26,657 shares of the retailer’s stock worth $3,603,000 after purchasing an additional 76 shares in the last quarter. Fiducient Advisors LLC raised its stake in Target by 4.6% in the 4th quarter. Fiducient Advisors LLC now owns 1,778 shares of the retailer’s stock valued at $240,000 after purchasing an additional 78 shares during the last quarter. First PREMIER Bank lifted its holdings in Target by 21.9% in the 4th quarter. First PREMIER Bank now owns 445 shares of the retailer’s stock valued at $61,000 after purchasing an additional 80 shares in the last quarter. Finally, Winch Advisory Services LLC boosted its stake in shares of Target by 34.5% during the 4th quarter. Winch Advisory Services LLC now owns 320 shares of the retailer’s stock worth $43,000 after purchasing an additional 82 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

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.