Target (NYSE:TGT) PT Lowered to $157.00 at Royal Bank of Canada

Target (NYSE:TGT) had its target price reduced by Royal Bank of Canada from $161.00 to $157.00 in a report published on Thursday morning, Benzinga reports. They currently have an outperform rating on the retailer’s stock.

Other equities research analysts also recently issued reports about the stock. TD Cowen downgraded shares of Target from an outperform rating to a market perform rating and reduced their price target for the company from $161.00 to $148.00 in a research report on Thursday. StockNews.com upgraded shares of Target from a hold rating to a buy rating in a report on Tuesday, November 14th. Jefferies Financial Group dropped their target price on shares of Target from $165.00 to $135.00 and set a buy rating for the company in a report on Tuesday, November 14th. Evercore ISI dropped their target price on shares of Target from $135.00 to $130.00 and set an in-line rating for the company in a report on Thursday, October 19th. Finally, Oppenheimer dropped their target price on shares of Target from $190.00 to $165.00 and set an outperform rating for the company in a report on Tuesday, August 1st. Sixteen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $154.39.

Target Stock Down 0.0 %

Target stock opened at $129.89 on Thursday. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.86 and a quick ratio of 0.18. Target has a 1-year low of $102.93 and a 1-year high of $181.70. The company has a market cap of $59.96 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 1.45 and a beta of 1.04. The stock’s 50 day moving average price is $112.79 and its 200 day moving average price is $127.34.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, November 15th. The retailer reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.62. Target had a net margin of 3.40% and a return on equity of 30.69%. The company had revenue of $25 billion during the quarter, compared to the consensus estimate of $25.28 billion. During the same period last year, the firm earned $1.54 EPS. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, sell-side analysts predict that Target will post 7.56 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Wednesday, November 15th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date is Tuesday, November 14th. Target’s dividend payout ratio (DPR) is presently 56.12%.

Insider Buying and Selling

In related news, insider Don H. Liu sold 16,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $130.00, for a total transaction of $2,080,000.00. Following the completion of the sale, the insider now owns 48,882 shares of the company’s stock, valued at approximately $6,354,660. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On Target

Institutional investors and hedge funds have recently modified their holdings of the stock. American Trust boosted its position in shares of Target by 14.9% in the first quarter. American Trust now owns 22,976 shares of the retailer’s stock worth $3,806,000 after buying an additional 2,971 shares during the period. SevenBridge Financial Group LLC lifted its holdings in Target by 3.1% in the 2nd quarter. SevenBridge Financial Group LLC now owns 28,226 shares of the retailer’s stock worth $3,723,000 after buying an additional 837 shares in the last quarter. Galibier Capital Management Ltd. lifted its holdings in Target by 27.3% in the 2nd quarter. Galibier Capital Management Ltd. now owns 11,090 shares of the retailer’s stock worth $1,463,000 after buying an additional 2,378 shares in the last quarter. Mid American Wealth Advisory Group Inc. acquired a new position in Target in the 2nd quarter worth $459,000. Finally, Moloney Securities Asset Management LLC lifted its holdings in Target by 9.8% in the 1st quarter. Moloney Securities Asset Management LLC now owns 5,426 shares of the retailer’s stock worth $899,000 after buying an additional 484 shares in the last quarter. Hedge funds and other institutional investors own 78.33% of the company’s stock.

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.