Target (NYSE:TGT) Shares Gap Down – Time to Sell?

Target Co. (NYSE:TGT) gapped down prior to trading on Thursday . The stock had previously closed at $134.53, but opened at $128.52. Target shares last traded at $129.98, with a volume of 2,430,555 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TGT. Sanford C. Bernstein started coverage on Target in a research note on Tuesday, October 22nd. They set a “market perform” rating and a $168.00 target price on the stock. HSBC lowered shares of Target from a “buy” rating to a “hold” rating and set a $138.00 price objective for the company. in a research note on Wednesday, November 20th. Daiwa Capital Markets cut shares of Target from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $170.00 to $130.00 in a research report on Tuesday, November 26th. Bank of America dropped their price target on shares of Target from $195.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $195.00 price objective on shares of Target in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $160.57.

Target Trading Down 3.0 %

The firm has a market cap of $59.78 billion, a price-to-earnings ratio of 13.84, a price-to-earnings-growth ratio of 2.32 and a beta of 1.16. The business has a 50 day moving average of $137.06 and a 200 day moving average of $145.39. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.45). The firm had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the company posted $2.10 EPS. On average, research analysts forecast that Target Co. will post 8.6 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.43%. Target’s dividend payout ratio is currently 47.51%.

Hedge Funds Weigh In On Target

A number of hedge funds have recently made changes to their positions in the business. Legacy Investment Solutions LLC purchased a new position in Target in the third quarter valued at about $28,000. Wolff Wiese Magana LLC grew its stake in shares of Target by 156.5% in the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after buying an additional 133 shares in the last quarter. FSA Wealth Management LLC purchased a new stake in shares of Target during the 3rd quarter valued at about $36,000. Catalyst Capital Advisors LLC acquired a new position in Target during the 3rd quarter worth approximately $38,000. Finally, First Financial Corp IN lifted its position in Target by 330.8% during the 4th quarter. First Financial Corp IN now owns 280 shares of the retailer’s stock worth $38,000 after acquiring an additional 215 shares in the last quarter. Hedge funds and other institutional investors 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.