Citigroup Cuts Target (NYSE:TGT) Price Target to $95.00

Target (NYSE:TGT) had its target price reduced by Citigroup from $120.00 to $95.00 in a report released on Thursday,Benzinga reports. They currently have a neutral rating on the retailer’s stock.

Several other brokerages also recently issued reports on TGT. Mizuho started coverage on Target in a research report on Friday, April 11th. They issued a “neutral” rating and a $92.00 price objective on the stock. Piper Sandler lowered their price target on shares of Target from $132.00 to $124.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. KGI Securities set a $132.00 price objective on shares of Target in a research note on Wednesday, March 5th. StockNews.com downgraded Target from a “buy” rating to a “hold” rating in a report on Thursday, April 10th. Finally, Oppenheimer lowered their price objective on Target from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $132.37.

Target Trading Up 2.9 %

NYSE:TGT opened at $93.13 on Thursday. Target has a 52-week low of $87.35 and a 52-week high of $169.09. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The stock has a fifty day simple moving average of $108.98 and a 200-day simple moving average of $129.73. The company has a market capitalization of $42.43 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 1.94 and a beta of 1.28.

Target (NYSE:TGT) last announced its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $30.92 billion during the quarter, compared to analysts’ expectations of $30.83 billion. On average, equities research analysts expect that Target will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be paid a dividend of $1.12 per share. The ex-dividend date is Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a yield of 4.81%. Target’s dividend payout ratio (DPR) is 50.56%.

Institutional Investors Weigh In On Target

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in Target in the fourth quarter worth about $757,892,000. Raymond James Financial Inc. acquired a new position in shares of Target in the 4th quarter worth approximately $297,122,000. Ameriprise Financial Inc. grew its position in shares of Target by 61.2% in the 4th quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer’s stock worth $536,407,000 after acquiring an additional 1,506,275 shares in the last quarter. FMR LLC increased its holdings in shares of Target by 13.6% in the 4th quarter. FMR LLC now owns 11,338,729 shares of the retailer’s stock valued at $1,532,769,000 after acquiring an additional 1,358,348 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new stake in shares of Target during the 4th quarter valued at approximately $182,882,000. 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.