Target (NYSE:TGT) Price Target Cut to $130.00 by Analysts at Stifel Nicolaus

Target (NYSE:TGT) had its target price lowered by Stifel Nicolaus from $145.00 to $130.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a hold rating on the retailer’s stock.

Several other equities research analysts have also commented on the stock. Daiwa America lowered shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Jefferies Financial Group dropped their price target on Target from $165.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday. Truist Financial upped their price objective on Target from $129.00 to $134.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Gordon Haskett lowered Target from a “buy” rating to a “hold” rating in a research report on Thursday, February 13th. Finally, Daiwa Capital Markets downgraded shares of Target from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $170.00 to $130.00 in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Target currently has an average rating of “Hold” and an average price target of $148.23.

Target Stock Down 0.4 %

Shares of NYSE:TGT opened at $116.70 on Wednesday. The business’s 50 day moving average is $132.91 and its 200 day moving average is $141.92. Target has a 12-month low of $112.53 and a 12-month high of $181.86. The stock has a market cap of $53.47 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 1.94 and a beta of 1.18. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last posted its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. The firm had revenue of $30.92 billion for the quarter, compared to the consensus estimate of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. On average, sell-side analysts forecast 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. Investors of record on Wednesday, February 12th were given a $1.12 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.84%. Target’s dividend payout ratio (DPR) is presently 50.56%.

Hedge Funds Weigh In On Target

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC bought a new stake in shares of Target during the 3rd quarter valued at about $28,000. Hopwood Financial Services Inc. purchased a new stake in Target in the fourth quarter valued at approximately $29,000. Bernard Wealth Management Corp. bought a new stake in Target during the fourth quarter valued at approximately $29,000. MCF Advisors LLC lifted its position in Target by 175.3% during the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after purchasing an additional 163 shares during the last quarter. Finally, Raleigh Capital Management Inc. grew its stake in Target by 110.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after buying an additional 135 shares in the last quarter. 79.73% of the stock is currently 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.