Target (NYSE:TGT) Downgraded by Citigroup to “Neutral”

Target (NYSE:TGT) was downgraded by Citigroup from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday,Finviz reports. They presently have a $130.00 price target on the retailer’s stock. Citigroup’s price target points to a potential downside of 16.67% from the company’s current price.

A number of other brokerages have also issued reports on TGT. Truist Financial lifted their price target on shares of Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. lifted their price target on shares of Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Wells Fargo & Company lifted their price target on shares of Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Royal Bank of Canada boosted their target price on shares of Target from $174.00 to $177.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Finally, Roth Mkm boosted their target price on shares of Target from $153.00 to $157.00 and gave the company a “neutral” rating in a research note on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $177.53.

Target Trading Down 0.4 %

TGT opened at $156.00 on Wednesday. The firm has a market capitalization of $71.87 billion, a P/E ratio of 16.12, a P/E/G ratio of 1.98 and a beta of 1.24. The firm’s 50 day moving average is $152.84 and its 200-day moving average is $150.32. Target has a 52-week low of $128.37 and a 52-week high of $181.86. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. The company had revenue of $25.02 billion for the quarter, compared to analyst estimates of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.80 earnings per share. Analysts expect that Target will post 9.55 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the sale, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The trade was a 12.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 303,843 shares of the company’s stock, 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. In the last quarter, insiders have sold 52,348 shares of company stock worth $8,290,995. Company insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Target

A number of large investors have recently added to or reduced their stakes in TGT. TAP Consulting LLC bought a new stake in shares of Target in the third quarter valued at approximately $2,403,000. Olstein Capital Management L.P. raised its stake in Target by 8.7% during the third quarter. Olstein Capital Management L.P. now owns 50,000 shares of the retailer’s stock worth $7,793,000 after acquiring an additional 4,000 shares in the last quarter. Smead Capital Management Inc. raised its stake in Target by 3.4% during the third quarter. Smead Capital Management Inc. now owns 1,243,928 shares of the retailer’s stock worth $193,879,000 after acquiring an additional 41,394 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Target by 20.5% during the first quarter. Janus Henderson Group PLC now owns 217,214 shares of the retailer’s stock worth $38,484,000 after purchasing an additional 36,941 shares during the last quarter. Finally, Eagle Rock Investment Company LLC grew its holdings in shares of Target by 166.3% during the third quarter. Eagle Rock Investment Company LLC now owns 16,179 shares of the retailer’s stock worth $2,522,000 after purchasing an additional 10,103 shares during the last quarter. Institutional investors 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.