Target (NYSE:TGT) Price Target Cut to $150.00 by Analysts at Wells Fargo & Company

Target (NYSE:TGT) had its price target reduced by research analysts at Wells Fargo & Company from $180.00 to $150.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the retailer’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 23.23% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on TGT. HSBC cut Target from a “buy” rating to a “hold” rating and set a $138.00 price target on the stock. in a research report on Wednesday. Daiwa America upgraded Target to a “strong-buy” rating in a research report on Monday, August 26th. Daiwa Capital Markets upgraded Target from a “neutral” rating to an “outperform” rating and set a $170.00 price target on the stock in a research report on Monday, August 26th. UBS Group upped their price target on Target from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, Truist Financial upped their price target on Target from $156.00 to $162.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Target currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.90.

Target Stock Performance

NYSE TGT traded down $34.28 during trading on Wednesday, hitting $121.72. 64,417,109 shares of the company’s stock traded hands, compared to its average volume of 4,236,701. The stock has a market capitalization of $56.07 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 1.98 and a beta of 1.24. Target has a 12-month low of $120.21 and a 12-month high of $181.86. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. The business has a 50 day moving average of $152.84 and a 200-day moving average of $150.32.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.45). The business had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. Target’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the company earned $2.10 earnings per share. As a group, equities research analysts anticipate that Target will post 9.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. This trade represents a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the transaction, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The trade was a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,348 shares of company stock valued at $8,290,995 over the last quarter. 0.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On Target

Institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp increased its holdings in Target by 8.3% in the 3rd quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock worth $5,530,576,000 after buying an additional 2,732,801 shares in the last quarter. FMR LLC boosted its position in Target by 11.7% in the third quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock worth $1,555,542,000 after purchasing an additional 1,046,044 shares during the last quarter. Geode Capital Management LLC boosted its position in Target by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,414,025 shares of the retailer’s stock worth $1,461,456,000 after purchasing an additional 130,691 shares during the last quarter. Legal & General Group Plc boosted its position in Target by 6.8% in the second quarter. Legal & General Group Plc now owns 4,374,851 shares of the retailer’s stock worth $647,652,000 after purchasing an additional 279,656 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Target by 11.4% in the second quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock worth $639,050,000 after purchasing an additional 440,307 shares during the last quarter. 79.73% of the stock is currently owned by 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.