Target (NYSE:TGT) Trading 2.2% Higher – Here’s Why

Target Co. (NYSE:TGT) shares shot up 2.2% on Thursday . The company traded as high as $92.38 and last traded at $92.43. 1,103,335 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 5,574,590 shares. The stock had previously closed at $90.46.

Analyst Ratings Changes

TGT has been the subject of a number of analyst reports. Citigroup reduced their price objective on shares of Target from $120.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday. DA Davidson decreased their price objective on shares of Target from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Evercore ISI lowered their price objective on shares of Target from $130.00 to $120.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 1st. The Goldman Sachs Group cut Target from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $142.00 to $101.00 in a research report on Wednesday. Finally, Telsey Advisory Group dropped their price target on Target from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, twenty-two have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $132.37.

Target Stock Up 2.9 %

The firm has a 50-day moving average price of $108.98 and a two-hundred day moving average price of $129.87. The company has a market capitalization of $42.43 billion, a P/E ratio of 9.88, a PEG ratio of 1.94 and a beta of 1.28. 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 results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.17. The company had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Equities research analysts anticipate that Target Co. will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

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

Institutional Trading of Target

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nicholas Company Inc. raised its stake in Target by 20.5% during the fourth quarter. Nicholas Company Inc. now owns 55,810 shares of the retailer’s stock worth $7,544,000 after acquiring an additional 9,485 shares in the last quarter. River Road Asset Management LLC lifted its holdings in Target by 144.9% during the 4th quarter. River Road Asset Management LLC now owns 234,492 shares of the retailer’s stock worth $31,699,000 after buying an additional 138,751 shares in the last quarter. Mountain Hill Investment Partners Corp. bought a new position in Target in the fourth quarter valued at about $6,459,000. Sierra Summit Advisors LLC grew its position in shares of Target by 29.0% during the 4th quarter. Sierra Summit Advisors LLC now owns 14,354 shares of the retailer’s stock worth $1,940,000 after buying an additional 3,231 shares during the period. Finally, Wilmington Savings Fund Society FSB raised its position in shares of Target by 25.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer’s stock valued at $2,430,000 after acquiring an additional 3,590 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

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.