Target (NYSE:TGT) Reaches New 52-Week Low – Time to Sell?

Shares of Target Co. (NYSE:TGT) hit a new 52-week low on Monday . The stock traded as low as $111.84 and last traded at $113.34, with a volume of 5435060 shares traded. The stock had previously closed at $115.08.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TGT. Wells Fargo & Company dropped their target price on shares of Target from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Daiwa America downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. BMO Capital Markets dropped their target price on Target from $160.00 to $120.00 and set a “market perform” rating on the stock in a research report on Thursday, November 21st. JPMorgan Chase & Co. reduced their price target on Target from $146.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. Finally, DA Davidson dropped their price objective on Target from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $145.87.

Target Stock Down 1.2 %

The company has a market cap of $52.12 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 1.94 and a beta of 1.18. The business has a fifty day moving average of $132.05 and a two-hundred day moving average of $141.37. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last issued its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, beating 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 firm had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. As a group, equities analysts anticipate that Target Co. will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th were given a $1.12 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.94%. Target’s dividend payout ratio (DPR) is presently 50.56%.

Institutional Trading of Target

Large investors have recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC purchased a new position in Target in the third quarter worth approximately $28,000. Hopwood Financial Services Inc. acquired a new stake in shares of Target during the 4th quarter worth about $29,000. Bernard Wealth Management Corp. purchased a new stake in Target in the 4th quarter valued at about $29,000. MCF Advisors LLC raised its holdings in 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 buying an additional 163 shares during the period. Finally, Raleigh Capital Management Inc. lifted its position in Target by 110.7% in the fourth 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 last quarter. 79.73% of the stock is currently 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.