Target (NYSE:TGT) Reaches New 12-Month Low – What’s Next?

Shares of Target Corporation (NYSE:TGT) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $85.24 and last traded at $88.8320, with a volume of 2465990 shares traded. The stock had previously closed at $88.53.

Analyst Ratings Changes

Several research firms have commented on TGT. Citigroup increased their price objective on shares of Target from $94.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, August 22nd. UBS Group reduced their target price on Target from $135.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, August 21st. DA Davidson decreased their price target on Target from $115.00 to $108.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Evercore ISI cut their price objective on Target from $100.00 to $95.00 and set an “in-line” rating on the stock in a research report on Monday. Finally, Wolfe Research initiated coverage on Target in a research note on Thursday, September 18th. They issued an “underperform” rating and a $80.00 price objective for the company. Nine analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, Target presently has a consensus rating of “Hold” and an average price target of $108.55.

Target Trading Down 0.2%

The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32. The firm has a fifty day simple moving average of $90.43 and a two-hundred day simple moving average of $96.09. The firm has a market capitalization of $40.17 billion, a P/E ratio of 10.33, a price-to-earnings-growth ratio of 2.74 and a beta of 1.19.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, November 19th. The retailer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.07. Target had a return on equity of 23.43% and a net margin of 3.72%.The firm had revenue of $25.28 billion for the quarter, compared to analysts’ expectations of $25.44 billion. During the same quarter in the prior year, the firm earned $1.85 EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-8.000 EPS. On average, equities research analysts anticipate that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be paid a $1.14 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $4.56 dividend on an annualized basis and a yield of 5.2%. This is a positive change from Target’s previous quarterly dividend of $1.12. Target’s dividend payout ratio (DPR) is presently 53.15%.

Hedge Funds Weigh In On Target

A number of large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its stake in Target by 407.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock worth $1,666,672,000 after purchasing an additional 12,825,586 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Target by 14.7% in the second quarter. Vanguard Group Inc. now owns 51,444,338 shares of the retailer’s stock worth $5,074,984,000 after buying an additional 6,607,982 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Target in the second quarter worth about $595,839,000. Norges Bank bought a new position in shares of Target in the second quarter valued at approximately $578,009,000. Finally, Pacer Advisors Inc. grew its stake in Target by 1,364.3% during the first quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer’s stock valued at $343,312,000 after acquiring an additional 3,065,035 shares in the last quarter. 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.