Target (NYSE:TGT) Shares Up 0.3% – Here’s Why

Shares of Target Co. (NYSE:TGT) traded up 0.3% on Tuesday . The company traded as high as $132.39 and last traded at $132.38. 438,331 shares traded hands during trading, a decline of 90% from the average session volume of 4,553,791 shares. The stock had previously closed at $131.92.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Sanford C. Bernstein initiated coverage on Target in a research note on Tuesday, October 22nd. They issued a “market perform” rating and a $168.00 price objective for the company. Stifel Nicolaus lifted their price target on shares of Target from $137.00 to $145.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. lowered their price objective on shares of Target from $167.00 to $139.00 and set a “neutral” rating on the stock in a report on Thursday, November 21st. Roth Mkm reduced their price objective on shares of Target from $157.00 to $131.00 and set a “neutral” rating for the company in a report on Thursday, November 21st. Finally, Oppenheimer restated an “outperform” rating and issued a $165.00 target price on shares of Target in a report on Monday, November 25th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Target currently has an average rating of “Hold” and an average price target of $160.57.

Target Price Performance

The firm has a 50 day moving average price of $141.92 and a two-hundred day moving average price of $146.41. The company has a market cap of $60.67 billion, a P/E ratio of 14.04, a P/E/G ratio of 2.23 and a beta of 1.17. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94.

Target (NYSE:TGT) last issued its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. During the same quarter in the prior year, the business earned $2.10 EPS. Target’s revenue for the quarter was up .9% compared to the same quarter last year. On average, analysts predict that Target Co. will post 8.6 EPS for the current fiscal year.

Insider Buying and Selling at Target

In other Target news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the completion of the transaction, the insider now owns 123,551 shares in the company, valued at $19,418,510.67. This trade represents a 4.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Target

Institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp increased its holdings in Target by 8.3% during the 3rd quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock worth $5,530,576,000 after acquiring an additional 2,732,801 shares during the period. FMR LLC raised its position in shares of Target by 11.7% in the third quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock worth $1,555,542,000 after buying an additional 1,046,044 shares in the last quarter. Geode Capital Management LLC boosted its stake in Target by 1.4% during the third quarter. Geode Capital Management LLC now owns 9,414,025 shares of the retailer’s stock valued at $1,461,456,000 after buying an additional 130,691 shares during the period. Legal & General Group Plc grew its position in Target by 6.8% during the second quarter. Legal & General Group Plc now owns 4,374,851 shares of the retailer’s stock worth $647,652,000 after buying an additional 279,656 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in Target by 11.4% in the 2nd quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock worth $639,050,000 after acquiring an additional 440,307 shares during the last quarter. 79.73% of the stock is 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.