Evercore ISI Cuts Target (NYSE:TGT) Price Target to $130.00

Target (NYSE:TGT) had its price target lowered by Evercore ISI from $165.00 to $130.00 in a report issued on Thursday,Benzinga reports. The firm currently has an in-line rating on the retailer’s stock.

A number of other research analysts have also weighed in on TGT. Stifel Nicolaus boosted their target price on shares of Target from $147.00 to $165.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. BMO Capital Markets decreased their target price on Target from $160.00 to $120.00 and set a “market perform” rating for the company in a research note on Thursday. TD Cowen lifted their price target on Target from $165.00 to $180.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Citigroup cut Target from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $188.00 to $130.00 in a research report on Wednesday. Finally, Truist Financial boosted their target price on shares of Target from $156.00 to $162.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. 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 given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $162.13.

Target Stock Up 1.9 %

Shares of TGT traded up $2.31 during trading hours on Thursday, hitting $123.90. 1,622,880 shares of the company were exchanged, compared to its average volume of 4,293,558. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. The company has a market cap of $57.08 billion, a PE ratio of 12.57, a PEG ratio of 2.03 and a beta of 1.24. The firm’s 50 day moving average is $151.79 and its 200-day moving average is $149.92. Target has a 52 week low of $120.21 and a 52 week high of $181.86.

Target (NYSE:TGT) last announced its 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). Target had a return on equity of 33.10% and a net margin of 4.18%. The company had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. During the same period in the previous year, the company earned $2.10 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities research analysts forecast that Target will post 9.55 EPS for the current fiscal year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a dividend yield of 3.62%. Target’s dividend payout ratio (DPR) is currently 46.28%.

Insider Activity at Target

In related news, insider Richard H. Gomez sold 6,348 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $157.17, for a total value of $997,715.16. Following the transaction, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. This represents a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the sale, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This represents a 12.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,348 shares of company stock valued at $8,290,995 over the last quarter. Corporate insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Target

Institutional investors have recently made changes to their positions in the stock. Cynosure Group LLC grew its holdings in Target by 4.3% during the third quarter. Cynosure Group LLC now owns 1,590 shares of the retailer’s stock valued at $248,000 after purchasing an additional 65 shares during the period. Financial Advocates Investment Management grew its holdings in shares of Target by 1.2% in the 3rd quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock valued at $894,000 after buying an additional 67 shares during the period. Hancock Whitney Corp increased its position in shares of Target by 3.3% in the 3rd quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock valued at $336,000 after buying an additional 68 shares in the last quarter. Beacon Capital Management LLC raised its stake in Target by 20.8% during the 2nd quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock worth $59,000 after buying an additional 69 shares during the period. Finally, Integral Investment Advisors Inc. lifted its holdings in Target by 5.3% during the second quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock worth $203,000 after acquiring an additional 69 shares in the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

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.