Target (NYSE:TGT) Price Target Lowered to $145.00 at Bank of America

Target (NYSE:TGT) had its price target cut by Bank of America from $160.00 to $145.00 in a report released on Wednesday,Benzinga reports. They currently have a buy rating on the retailer’s stock.

Other equities research analysts have also issued reports about the company. Stifel Nicolaus dropped their price target on Target from $145.00 to $130.00 and set a “hold” rating for the company in a research report on Wednesday. TD Cowen lowered their price objective on Target from $165.00 to $145.00 and set a “hold” rating on the stock in a research note on Thursday, November 21st. Telsey Advisory Group cut their target price on Target from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Wednesday. Piper Sandler lowered their price target on shares of Target from $132.00 to $124.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft cut shares of Target from a “buy” rating to a “hold” rating and cut their price objective for the stock from $184.00 to $108.00 in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $148.23.

Target Stock Performance

Shares of NYSE:TGT opened at $116.70 on Wednesday. The business’s 50 day moving average price is $132.91 and its 200-day moving average price is $141.92. Target has a 1 year low of $112.53 and a 1 year high of $181.86. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The firm has a market capitalization of $53.47 billion, a PE ratio of 12.38, a P/E/G ratio of 1.94 and a beta of 1.18.

Target (NYSE:TGT) last issued its earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.17. The business had revenue of $30.92 billion during the quarter, compared to analysts’ expectations of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. As a group, 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 declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th were given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date was Wednesday, February 12th. Target’s dividend payout ratio is currently 50.56%.

Hedge Funds Weigh In On Target

A number of institutional investors and hedge funds have recently made changes to their positions in TGT. Legacy Investment Solutions LLC acquired a new position in Target during the 3rd quarter worth approximately $28,000. Bernard Wealth Management Corp. purchased a new stake in shares of Target during the 4th quarter worth $30,000. Hopwood Financial Services Inc. purchased a new stake in shares of Target during the 4th quarter worth $29,000. FSA Wealth Management LLC acquired a new position in shares of Target during the third quarter worth $36,000. Finally, Catalyst Capital Advisors LLC purchased a new position in Target in the third quarter valued at $38,000. 79.73% of the stock is owned by institutional investors and hedge funds.

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.