Target (NYSE:TGT) PT Lowered to $205.00

Target (NYSE:TGT – Get Rating) had its price objective decreased by stock analysts at Raymond James from $275.00 to $205.00 in a research report issued to clients and investors on Thursday, Briefing.com reports. The brokerage currently has a “strong-buy” rating on the retailer’s stock. Raymond James’ price target suggests a potential upside of 33.50% from the stock’s previous close.

A number of other research analysts also recently issued reports on TGT. JPMorgan Chase & Co. reduced their price objective on shares of Target from $302.00 to $188.00 and set an “overweight” rating on the stock in a research report on Thursday. Truist Financial lowered Target from a “buy” rating to a “hold” rating and set a $261.00 target price for the company. in a research report on Wednesday. Royal Bank of Canada reduced their price target on Target from $294.00 to $239.00 and set an “outperform” rating on the stock in a research note on Thursday. DA Davidson lowered their price objective on Target from $293.00 to $205.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Telsey Advisory Group reduced their target price on shares of Target from $305.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday. Eight research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $226.16.

Shares of NYSE TGT traded down $8.05 during mid-day trading on Thursday, hitting $153.56. The stock had a trading volume of 337,447 shares, compared to its average volume of 3,435,097. The firm has a market cap of $71.20 billion, a P/E ratio of 11.00, a price-to-earnings-growth ratio of 0.91 and a beta of 0.94. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.35 and a current ratio of 0.99. The business has a 50 day moving average price of $224.49 and a two-hundred day moving average price of $227.20. Target has a 1 year low of $155.20 and a 1 year high of $268.98.

Target (NYSE:TGT – Get Rating) last announced its quarterly earnings results on Wednesday, May 18th. The retailer reported $2.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.88). Target had a net margin of 6.55% and a return on equity of 47.35%. The business had revenue of $24.83 billion for the quarter, compared to analysts’ expectations of $24.48 billion. During the same quarter in the prior year, the firm earned $3.69 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. Equities research analysts predict that Target will post 14.61 EPS for the current fiscal year.

In other news, insider Cara A. Sylvester sold 2,030 shares of the company’s stock in a transaction that occurred on Wednesday, April 20th. The stock was sold at an average price of $250.00, for a total transaction of $507,500.00. Following the sale, the insider now directly owns 7,891 shares of the company’s stock, valued at approximately $1,972,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Robert M. Harrison sold 2,080 shares of the firm’s stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $217.87, for a total transaction of $453,169.60. The disclosure for this sale can be found here. Insiders sold 99,363 shares of company stock worth $21,970,253 in the last three months. Insiders own 0.29% of the company’s stock.

A number of hedge funds have recently modified their holdings of TGT. FDx Advisors Inc. increased its position in shares of Target by 12.9% during the 4th quarter. FDx Advisors Inc. now owns 22,374 shares of the retailer’s stock valued at $5,178,000 after purchasing an additional 2,549 shares during the last quarter. Dana Investment Advisors Inc. increased its position in Target by 46.7% during the third quarter. Dana Investment Advisors Inc. now owns 128,564 shares of the retailer’s stock valued at $29,412,000 after acquiring an additional 40,953 shares during the last quarter. Wealthspire Advisors LLC raised its stake in shares of Target by 59.9% in the third quarter. Wealthspire Advisors LLC now owns 13,562 shares of the retailer’s stock valued at $3,103,000 after acquiring an additional 5,078 shares during the period. London Co. of Virginia raised its stake in shares of Target by 2.6% in the third quarter. London Co. of Virginia now owns 1,694,201 shares of the retailer’s stock valued at $387,582,000 after acquiring an additional 42,365 shares during the period. Finally, Strategy Asset Managers LLC lifted its holdings in shares of Target by 10.5% in the 3rd quarter. Strategy Asset Managers LLC now owns 34,259 shares of the retailer’s stock worth $7,838,000 after acquiring an additional 3,244 shares during the last quarter. Institutional investors and hedge funds own 81.83% of the company’s stock.

About Target (Get Rating)

Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

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