Target (NYSE:TGT) Given New $120.00 Price Target at Citigroup

Target (NYSE:TGT) had its target price trimmed by Citigroup from $133.00 to $120.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the retailer’s stock.

Other analysts have also recently issued research reports about the company. StockNews.com cut Target from a “buy” rating to a “hold” rating in a report on Monday. Evercore ISI lowered their target price on shares of Target from $135.00 to $130.00 and set an “in-line” rating on the stock in a research note on Wednesday. Jefferies Financial Group cut their price target on shares of Target from $165.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday. TD Cowen lowered their price objective on shares of Target from $165.00 to $145.00 and set a “hold” rating on the stock in a research report on Thursday, November 21st. Finally, Piper Sandler cut their target price on shares of Target from $132.00 to $124.00 and set a “neutral” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $148.23.

Target Stock Performance

Target stock opened at $116.70 on Wednesday. Target has a 1-year low of $112.53 and a 1-year high of $181.86. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $53.47 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18. The firm’s 50 day simple moving average is $132.91 and its 200 day simple moving average is $141.92.

Target (NYSE:TGT) last released its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS 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 during the quarter, compared to analyst estimates of $30.83 billion. As a group, analysts expect that Target will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th were issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend was Wednesday, February 12th. Target’s dividend payout ratio (DPR) is currently 50.56%.

Hedge Funds Weigh In On Target

Hedge funds have recently made changes to their positions in the business. Harbor Capital Advisors Inc. purchased a new position in Target during the 3rd quarter valued at $49,000. Impax Asset Management Group plc boosted its stake in shares of Target by 8.6% during the 3rd quarter. Impax Asset Management Group plc now owns 241,447 shares of the retailer’s stock valued at $37,632,000 after purchasing an additional 19,095 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Target during the third quarter valued at about $38,000. Central Bank & Trust Co. raised its stake in Target by 6.2% in the third quarter. Central Bank & Trust Co. now owns 2,283 shares of the retailer’s stock worth $356,000 after buying an additional 134 shares in the last quarter. Finally, Crestwood Advisors Group LLC lifted its holdings in Target by 11.0% in the third quarter. Crestwood Advisors Group LLC now owns 11,267 shares of the retailer’s stock worth $1,756,000 after buying an additional 1,114 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

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.