Target (NYSE:TGT) Price Target Cut to $95.00 by Analysts at Citigroup

Target (NYSE:TGT) had its price target reduced by Citigroup from $120.00 to $95.00 in a research report released on Thursday,Benzinga reports. They currently have a neutral rating on the retailer’s stock.

Other equities research analysts have also recently issued research reports about the company. Truist Financial cut their price target on Target from $124.00 to $82.00 and set a “hold” rating for the company in a report on Tuesday, April 8th. Roth Capital set a $122.00 price objective on shares of Target in a report on Wednesday, March 5th. DA Davidson reduced their target price on shares of Target from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Baird R W cut shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Finally, Guggenheim lifted their price target on shares of Target from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Target currently has a consensus rating of “Hold” and an average target price of $132.37.

Target Stock Performance

NYSE TGT opened at $93.13 on Thursday. The stock’s 50 day simple moving average is $109.77 and its 200-day simple moving average is $130.28. Target has a 1-year low of $87.35 and a 1-year high of $169.09. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The company has a market cap of $42.43 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 1.94 and a beta of 1.28.

Target (NYSE:TGT) last issued its 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 business had revenue of $30.92 billion during the quarter, compared to analysts’ expectations of $30.83 billion. As a group, equities research analysts anticipate that Target will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 annualized dividend and a dividend yield of 4.81%. Target’s dividend payout ratio (DPR) is currently 50.56%.

Hedge Funds Weigh In On Target

Several large investors have recently bought and sold shares of TGT. Robertson Stephens Wealth Management LLC lifted its holdings in Target by 7.0% during the 1st quarter. Robertson Stephens Wealth Management LLC now owns 5,593 shares of the retailer’s stock worth $584,000 after buying an additional 365 shares during the last quarter. Inscription Capital LLC purchased a new stake in Target during the first quarter worth approximately $1,661,000. Signature Wealth Management Group lifted its stake in Target by 12.8% during the first quarter. Signature Wealth Management Group now owns 28,527 shares of the retailer’s stock worth $2,977,000 after purchasing an additional 3,243 shares during the last quarter. Precedent Wealth Partners LLC boosted its holdings in Target by 29.2% in the first quarter. Precedent Wealth Partners LLC now owns 10,339 shares of the retailer’s stock valued at $1,079,000 after purchasing an additional 2,335 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in Target by 19.1% in the first quarter. Janney Montgomery Scott LLC now owns 345,697 shares of the retailer’s stock valued at $36,077,000 after purchasing an additional 55,555 shares during the last quarter. Hedge funds and other 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.