BMO Capital Markets Lowers Target (NYSE:TGT) to Market Perform

BMO Capital Markets cut shares of Target (NYSE:TGTGet Rating) from an outperform rating to a market perform rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. They currently have $165.00 price target on the retailer’s stock, down from their previous price target of $190.00.

TGT has been the subject of several other research reports. The Goldman Sachs Group upped their price objective on Target from $155.00 to $205.00 and gave the company a buy rating in a research note on Thursday, August 18th. KeyCorp reduced their target price on Target from $200.00 to $180.00 and set an overweight rating on the stock in a report on Thursday. Guggenheim upped their target price on Target to $190.00 in a report on Monday, August 22nd. Raymond James upped their target price on Target from $190.00 to $200.00 and gave the company a strong-buy rating in a report on Thursday, August 18th. Finally, Wells Fargo & Company upgraded Target to an overweight rating in a report on Tuesday, August 9th. Nine research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $185.07.

Target Trading Up 0.5 %

TGT opened at $162.88 on Thursday. Target has a twelve month low of $137.16 and a twelve month high of $254.87. The company has a 50-day simple moving average of $159.39 and a 200 day simple moving average of $162.44. The company has a quick ratio of 0.14, a current ratio of 0.86 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $74.97 billion, a price-to-earnings ratio of 22.31, a P/E/G ratio of 2.09 and a beta of 1.02.

Target (NYSE:TGTGet Rating) last posted its quarterly earnings data on Wednesday, November 16th. The retailer reported $1.54 earnings per share for the quarter, missing the consensus estimate of $2.12 by ($0.58). The firm had revenue of $26.12 billion for the quarter, compared to the consensus estimate of $26.40 billion. Target had a return on equity of 30.51% and a net margin of 3.17%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $3.03 EPS. Analysts predict that Target will post 7.88 EPS for the current fiscal year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Wednesday, November 16th will be issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Tuesday, November 15th. Target’s dividend payout ratio is currently 59.18%.

Insider Buying and Selling

In related news, insider John J. Mulligan sold 39,101 shares of the stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $166.02, for a total value of $6,491,548.02. Following the transaction, the insider now directly owns 118,425 shares in the company, valued at approximately $19,660,918.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.29% of the stock is owned by company insiders.

Institutional Investors Weigh In On Target

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Power Corp of Canada raised its position in Target by 11.6% in the 3rd quarter. Power Corp of Canada now owns 13,372 shares of the retailer’s stock valued at $1,984,000 after buying an additional 1,390 shares during the last quarter. National Pension Service raised its position in Target by 5.1% in the 3rd quarter. National Pension Service now owns 763,584 shares of the retailer’s stock valued at $115,904,000 after buying an additional 36,777 shares during the last quarter. CENTRAL TRUST Co raised its position in Target by 4.8% in the 3rd quarter. CENTRAL TRUST Co now owns 40,996 shares of the retailer’s stock valued at $6,084,000 after buying an additional 1,864 shares during the last quarter. Warther Private Wealth LLC purchased a new stake in Target in the 3rd quarter valued at $1,366,000. Finally, Advisors Capital Management LLC raised its position in Target by 15.2% in the 3rd quarter. Advisors Capital Management LLC now owns 209,297 shares of the retailer’s stock valued at $36,263,000 after buying an additional 27,693 shares during the last quarter. 77.42% of the stock is owned by hedge funds and other institutional investors.

Target Company Profile

(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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Analyst Recommendations for Target (NYSE:TGT)

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