Target (NYSE:TGT) Lowered to “Hold” Rating by Hsbc Global Res

Target (NYSE:TGT) was downgraded by Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

TGT has been the topic of a number of other research reports. Citigroup lowered Target from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $188.00 to $130.00 in a research note on Wednesday. Telsey Advisory Group reissued an “outperform” rating and set a $195.00 price target on shares of Target in a research note on Wednesday. BMO Capital Markets reduced their price target on Target from $160.00 to $120.00 and set a “market perform” rating on the stock in a research note on Thursday. Truist Financial increased their price target on Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered Target from a “buy” rating to a “hold” rating and reduced their price target for the stock from $184.00 to $108.00 in a research note on Wednesday. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Target presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.13.

Target Price Performance

Shares of NYSE:TGT opened at $121.66 on Wednesday. The business’s fifty day moving average price is $151.79 and its two-hundred day moving average price is $149.92. The stock has a market cap of $56.05 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 2.03 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. Target has a one year low of $120.21 and a one year high of $181.86.

Target (NYSE:TGT) last announced its earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The company had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. Target’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the company posted $2.10 EPS. On average, analysts forecast that Target will post 9.55 EPS for the current fiscal year.

Insider Activity

In related news, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the sale, the insider now owns 123,551 shares of the company’s stock, valued at $19,418,510.67. The trade was a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the sale, the insider now directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. The trade was a 12.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,348 shares of company stock valued at $8,290,995. Insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Triad Wealth Partners LLC acquired a new position in Target during the second quarter valued at $25,000. Slocum Gordon & Co LLP acquired a new stake in shares of Target during the second quarter worth approximately $28,000. Legacy Investment Solutions LLC purchased a new position in Target during the third quarter valued at approximately $28,000. Hobbs Group Advisors LLC acquired a new position in Target in the 2nd quarter valued at approximately $31,000. Finally, Wolff Wiese Magana LLC lifted its position in Target by 156.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after buying an additional 133 shares in the last quarter. Institutional investors and hedge funds 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.