Truist Financial Cuts Target (NYSE:TGT) Price Target to $153.00

Target (NYSE:TGT) had its target price lowered by Truist Financial from $160.00 to $153.00 in a research note issued to investors on Thursday morning, Benzinga reports. Truist Financial currently has a hold rating on the retailer’s stock.

TGT has been the topic of a number of other reports. Barclays lifted their target price on shares of Target from $142.00 to $169.00 and gave the company an equal weight rating in a report on Wednesday, March 6th. BMO Capital Markets lifted their price objective on shares of Target from $145.00 to $170.00 and gave the company a market perform rating in a research note on Wednesday, March 6th. DA Davidson increased their target price on shares of Target from $167.00 to $195.00 and gave the stock a buy rating in a research note on Wednesday, March 6th. Citigroup raised Target from a neutral rating to a buy rating and set a $180.00 price target on the stock in a report on Tuesday, May 7th. Finally, Jefferies Financial Group upped their price objective on Target from $195.00 to $205.00 and gave the company a buy rating in a research note on Monday, April 1st. Ten research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, Target has an average rating of Moderate Buy and an average target price of $180.41.

Target Stock Performance

NYSE TGT opened at $145.23 on Thursday. The company has a fifty day moving average of $164.92 and a two-hundred day moving average of $149.85. The company has a market capitalization of $67.19 billion, a PE ratio of 16.30, a P/E/G ratio of 1.34 and a beta of 1.16. Target has a 1 year low of $102.93 and a 1 year high of $181.86. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.29.

Target (NYSE:TGT) last announced its earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). The firm had revenue of $24.14 billion during the quarter, compared to analyst estimates of $24.52 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period last year, the company earned $2.05 earnings per share. As a group, analysts expect that Target will post 9.39 earnings per share for the current year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date is Tuesday, May 14th. Target’s payout ratio is currently 49.38%.

Insiders Place Their Bets

In related news, insider Christina Hennington sold 4,600 shares of Target stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $170.88, for a total transaction of $786,048.00. Following the completion of the sale, the insider now owns 38,487 shares in the company, valued at approximately $6,576,658.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Christina Hennington sold 4,600 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $170.88, for a total transaction of $786,048.00. Following the sale, the insider now owns 38,487 shares in the company, valued at $6,576,658.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Melissa K. Kremer sold 3,000 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $165.05, for a total value of $495,150.00. Following the completion of the transaction, the insider now owns 30,527 shares of the company’s stock, valued at $5,038,481.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,600 shares of company stock valued at $8,819,598. Corporate insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On Target

A number of hedge funds have recently made changes to their positions in TGT. Vanguard Group Inc. boosted its holdings in Target by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 44,945,524 shares of the retailer’s stock valued at $6,401,142,000 after acquiring an additional 417,818 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Target by 9.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,163,864 shares of the retailer’s stock worth $1,447,538,000 after purchasing an additional 868,274 shares during the period. Franklin Resources Inc. lifted its stake in shares of Target by 1.5% in the 4th quarter. Franklin Resources Inc. now owns 9,531,846 shares of the retailer’s stock valued at $1,357,525,000 after purchasing an additional 137,180 shares in the last quarter. FMR LLC increased its position in Target by 26.5% during the 3rd quarter. FMR LLC now owns 6,762,227 shares of the retailer’s stock worth $747,699,000 after purchasing an additional 1,415,900 shares in the last quarter. Finally, Norges Bank purchased a new position in Target in the fourth quarter valued at approximately $759,810,000. 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.