Target (NYSE:TGT) Sets New 1-Year Low – Should You Sell?

Target Co. (NYSE:TGT)’s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $120.15 and last traded at $120.78, with a volume of 8158492 shares traded. The stock had previously closed at $124.24.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TGT. Stifel Nicolaus raised their price objective on Target from $137.00 to $145.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. Wells Fargo & Company decreased their target price on shares of Target from $180.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Piper Sandler dropped their price target on Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research report on Thursday, November 21st. Telsey Advisory Group restated an “outperform” rating and issued a $150.00 price target on shares of Target in a research note on Friday, January 17th. Finally, Truist Financial lifted 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. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $157.93.

Target Price Performance

The stock has a market capitalization of $55.11 billion, a PE ratio of 12.76, a PEG ratio of 1.94 and a beta of 1.15. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The firm’s 50-day moving average price is $133.54 and its 200-day moving average price is $142.28.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th were paid a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend was Wednesday, February 12th. Target’s payout ratio is currently 47.51%.

Institutional Investors Weigh In On Target

A number of institutional investors and hedge funds have recently modified their holdings of the business. Thrivent Financial for Lutherans grew its stake in Target by 1.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock worth $4,368,000 after acquiring an additional 490 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in shares of Target by 25.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer’s stock valued at $2,430,000 after purchasing an additional 3,590 shares during the period. Northeast Financial Group Inc. bought a new position in Target in the fourth quarter worth approximately $1,566,000. D.A. Davidson & CO. increased its holdings in Target by 8.6% during the 3rd quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock worth $18,619,000 after purchasing an additional 9,510 shares during the period. Finally, LMG Wealth Partners LLC purchased a new position in Target during the 4th quarter worth $1,438,000. 79.73% of the stock is 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.