Target (NYSE:TGT) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Target (NYSE:TGT) from a buy rating to a hold rating in a report published on Wednesday morning.

A number of other research analysts have also weighed in on the company. Hsbc Global Res lowered Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Gordon Haskett lowered Target from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. UBS Group reduced their price target on Target from $170.00 to $155.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Jefferies Financial Group reduced their price target on Target from $165.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Finally, Telsey Advisory Group reduced their price target on Target from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $145.87.

Target Stock Performance

TGT opened at $104.71 on Wednesday. The stock has a market cap of $47.98 billion, a P/E ratio of 11.10, a P/E/G ratio of 1.94 and a beta of 1.18. 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 stock’s 50 day simple moving average is $129.35 and its 200 day simple moving average is $139.88. Target has a 1-year low of $103.46 and a 1-year high of $181.86.

Target (NYSE:TGT) last announced 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 firm had revenue of $30.92 billion for the quarter, compared to analysts’ expectations of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. As a group, equities analysts anticipate that Target will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s dividend payout ratio is currently 50.56%.

Hedge Funds Weigh In On Target

Institutional investors and hedge funds have recently modified their holdings of the stock. Legacy Investment Solutions LLC acquired a new stake in shares of Target in the 3rd quarter valued at $28,000. Hopwood Financial Services Inc. acquired a new position in Target during the 4th quarter worth $29,000. Bernard Wealth Management Corp. acquired a new position in Target during the 4th quarter worth $29,000. MCF Advisors LLC lifted its position in Target by 175.3% during the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after acquiring an additional 163 shares during the last quarter. Finally, Raleigh Capital Management Inc. increased its holdings in shares of Target by 110.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after purchasing an additional 135 shares during the period. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

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.