Target (NYSE:TGT) Downgraded by Daiwa Capital Markets to Neutral

Daiwa Capital Markets downgraded shares of Target (NYSE:TGT) from an outperform rating to a neutral rating in a research note released on Tuesday, Marketbeat.com reports. The brokerage currently has $130.00 price target on the retailer’s stock, down from their prior price target of $170.00.

A number of other research analysts also recently weighed in on TGT. Truist Financial upped their price objective on shares of Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. lowered their price target on Target from $167.00 to $139.00 and set a “neutral” rating on the stock in a research report on Thursday, November 21st. Bank of America dropped their price target on shares of Target from $195.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft lowered shares of Target from a “buy” rating to a “hold” rating and decreased their price target for the company from $184.00 to $108.00 in a research note on Wednesday, November 20th. Finally, Evercore ISI reduced their target price on Target from $165.00 to $130.00 and set an “in-line” rating for the company in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Target has an average rating of “Hold” and an average price target of $160.30.

Target Stock Performance

Shares of TGT stock opened at $132.39 on Tuesday. Target has a 52-week low of $120.21 and a 52-week high of $181.86. 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 stock has a market cap of $60.99 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 2.13 and a beta of 1.24. The business has a 50-day simple moving average of $148.86 and a 200-day simple moving average of $148.59.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a return on equity of 31.11% and a net margin of 4.06%. The firm had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. During the same period in the previous year, the business earned $2.10 EPS. Target’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities analysts expect that Target will post 8.6 EPS for the current year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.38%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is presently 47.51%.

Insider Transactions at Target

In other news, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the completion of the sale, the insider now directly owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. The trade was a 4.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.15% of the company’s stock.

Institutional Trading of Target

Several institutional investors and hedge funds have recently bought and sold shares of the business. Cynosure Group LLC raised its holdings in Target by 4.3% during the third quarter. Cynosure Group LLC now owns 1,590 shares of the retailer’s stock worth $248,000 after purchasing an additional 65 shares during the last quarter. Financial Advocates Investment Management raised its position in shares of Target by 1.2% in the third quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock valued at $894,000 after buying an additional 67 shares during the last quarter. Hancock Whitney Corp lifted its stake in shares of Target by 3.3% during the third quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock valued at $336,000 after buying an additional 68 shares during the period. Beacon Capital Management LLC boosted its position in Target by 20.8% during the second quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock worth $59,000 after acquiring an additional 69 shares during the last quarter. Finally, Integral Investment Advisors Inc. grew its stake in Target by 5.3% in the 2nd quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock worth $203,000 after acquiring an additional 69 shares during the period. 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.