Target (NYSE:TGT) Given New $145.00 Price Target at Guggenheim

Target (NYSE:TGT) had its target price cut by Guggenheim from $180.00 to $145.00 in a research report report published on Thursday,Benzinga reports. They currently have a buy rating on the retailer’s stock.

TGT has been the topic of several other research reports. BMO Capital Markets cut their price target on Target from $160.00 to $120.00 and set a “market perform” rating on the stock in a research report on Thursday. StockNews.com lowered Target from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft lowered Target from a “buy” rating to a “hold” rating and dropped their target price for the company from $184.00 to $108.00 in a report on Wednesday. Truist Financial boosted their target price on Target from $156.00 to $162.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Finally, Evercore ISI dropped their target price on Target from $165.00 to $130.00 and set an “in-line” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $162.13.

Target Price Performance

TGT stock opened at $121.66 on Thursday. The business has a 50 day moving average price of $151.79 and a 200 day moving average price of $149.92. The stock has a market cap of $56.05 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 2.03 and a beta of 1.24. Target has a fifty-two week low of $120.21 and a fifty-two 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 released its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.45). The firm had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the firm earned $2.10 EPS. Equities research analysts anticipate that Target will post 9.55 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a yield of 3.68%. Target’s payout ratio is 46.28%.

Insiders Place Their Bets

In other news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the sale, the insider now directly owns 303,843 shares in the company, valued at $48,210,768.81. This represents a 12.90 % 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 Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $157.17, for a total value of $997,715.16. Following the completion of the sale, the insider now owns 123,551 shares in the company, valued at $19,418,510.67. This represents a 4.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,348 shares of company stock worth $8,290,995. 0.15% of the stock is owned by corporate insiders.

Institutional Trading of Target

Several institutional investors and hedge funds have recently made changes to their positions in TGT. Triad Wealth Partners LLC purchased a new position in Target during the second quarter worth about $25,000. Legacy Investment Solutions LLC purchased a new position in Target during the third quarter worth about $28,000. Slocum Gordon & Co LLP purchased a new position in Target during the second quarter worth about $28,000. Hobbs Group Advisors LLC purchased a new position in Target during the second quarter worth about $31,000. Finally, Wolff Wiese Magana LLC lifted its position in Target by 156.5% during the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after buying an additional 133 shares during the period. 79.73% of the stock is currently owned by hedge funds and other 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.