JPMorgan Chase & Co. Lowers Target (NYSE:TGT) Price Target to $139.00

Target (NYSE:TGT) had its target price reduced by JPMorgan Chase & Co. from $167.00 to $139.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the retailer’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 11.19% from the stock’s previous close.

Several other research analysts have also commented on TGT. Jefferies Financial Group raised their price target on Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Melius Research assumed coverage on Target in a research report on Monday, September 23rd. They issued a “buy” rating and a $180.00 target price for the company. Telsey Advisory Group reissued an “outperform” rating and set a $195.00 price target on shares of Target in a research report on Wednesday. Royal Bank of Canada raised their price target on shares of Target from $174.00 to $177.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Finally, Daiwa Capital Markets upgraded shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 price target for the company in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $162.13.

Target Stock Up 2.8 %

Shares of TGT opened at $125.01 on Thursday. The company’s 50-day moving average price is $151.27 and its 200 day moving average price is $149.69. Target has a 12-month low of $120.21 and a 12-month high of $181.86. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95. The firm has a market cap of $57.59 billion, a P/E ratio of 12.91, a price-to-earnings-growth ratio of 2.03 and a beta of 1.24.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The company had revenue of $25.23 billion during the quarter, compared to analysts’ expectations of $25.87 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. Target’s revenue was up .9% on a year-over-year basis. During the same period last year, the firm posted $2.10 earnings per share. On average, sell-side analysts forecast that Target will post 9.55 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the transaction, the insider now directly owns 123,551 shares in the company, valued at approximately $19,418,510.67. This trade represents a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the sale, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. This trade represents a 12.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,348 shares of company stock valued at $8,290,995 over the last quarter. Company insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Target

Several institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its stake in shares of Target by 8.3% in the 3rd quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock valued at $5,530,576,000 after purchasing an additional 2,732,801 shares during the last quarter. International Assets Investment Management LLC grew its position in Target by 9,940.6% in the 3rd quarter. International Assets Investment Management LLC now owns 2,001,391 shares of the retailer’s stock valued at $311,937,000 after buying an additional 1,981,458 shares during the last quarter. Boston Partners acquired a new position in Target in the 1st quarter valued at $335,870,000. Two Sigma Advisers LP raised its position in Target by 173.2% during the 3rd quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock worth $369,295,000 after buying an additional 1,502,200 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Target by 11.7% in the 3rd quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock worth $1,555,542,000 after acquiring an additional 1,046,044 shares during the period. Institutional investors and hedge funds own 79.73% 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.