UBS Group Cuts Target (NYSE:TGT) Price Target to $130.00

Target (NYSE:TGT) had its price objective lowered by UBS Group from $135.00 to $130.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has a buy rating on the retailer’s stock.

Other analysts have also recently issued reports about the company. Morgan Stanley lowered their target price on Target from $160.00 to $112.00 and set an “overweight” rating on the stock in a research report on Thursday, May 22nd. Royal Bank Of Canada lowered their target price on Target from $112.00 to $103.00 and set an “outperform” rating on the stock in a research report on Thursday, May 22nd. Truist Financial raised their target price on Target from $90.00 to $107.00 and gave the company a “hold” rating in a research report on Wednesday, August 13th. The Goldman Sachs Group lowered their target price on Target from $101.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, May 22nd. Finally, Wall Street Zen upgraded Target from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. Ten investment analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $113.74.

Target Stock Up 2.0%

Shares of Target stock opened at $98.9880 on Thursday. Target has a twelve month low of $87.35 and a twelve month high of $161.84. The company has a current ratio of 0.99, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $44.98 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 2.86 and a beta of 1.22. The business’s 50 day simple moving average is $102.06 and its 200-day simple moving average is $103.64.

Target (NYSE:TGT) last posted its earnings results on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, beating the consensus estimate of $2.04 by $0.01. Target had a return on equity of 23.43% and a net margin of 3.72%.The firm had revenue of $24.99 billion for the quarter, compared to analysts’ expectations of $24.84 billion. During the same period last year, the firm earned $2.57 EPS. The firm’s revenue was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Equities research analysts forecast that Target will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 annualized dividend and a dividend yield of 4.5%. Target’s dividend payout ratio (DPR) is currently 53.15%.

Insider Buying and Selling at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the completion of the sale, the insider directly owned 246,453 shares of the company’s stock, valued at $23,703,849.54. This trade represents a 15.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Target

Large investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its position in shares of Target by 407.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock worth $1,666,672,000 after buying an additional 12,825,586 shares during the period. Vanguard Group Inc. lifted its position 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 during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Target in the second quarter worth about $595,839,000. Norges Bank acquired a new stake in shares of Target in the second quarter worth about $578,009,000. Finally, Pacer Advisors Inc. lifted its position in shares of Target by 1,364.3% in the first quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer’s stock worth $343,312,000 after buying an additional 3,065,035 shares during the last quarter. 79.73% of the stock is owned by institutional investors.

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.