Target (NYSE:TGT – Get Rating) had its price target cut by research analysts at Raymond James from $205.00 to $190.00 in a report released on Wednesday, Briefing.com reports. The brokerage presently has a “strong-buy” rating on the retailer’s stock. Raymond James’ target price would suggest a potential upside of 21.81% from the company’s current price.
Other equities analysts have also recently issued research reports about the stock. Bank of America cut shares of Target from a “buy” rating to a “neutral” rating and cut their price target for the stock from $235.00 to $165.00 in a research note on Wednesday. Truist Financial lowered shares of Target from a “buy” rating to a “hold” rating and set a $261.00 price objective for the company. in a report on Wednesday, May 18th. Jefferies Financial Group lowered their price objective on shares of Target from $252.00 to $168.00 and set a “hold” rating for the company in a report on Thursday, May 19th. Barclays lowered their price objective on shares of Target from $200.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Credit Suisse Group lowered their price objective on shares of Target from $286.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, May 23rd. Ten equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $208.00.
TGT stock opened at $155.98 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.87 and a quick ratio of 0.14. Target has a one year low of $145.51 and a one year high of $268.98. The stock has a market cap of $72.33 billion, a PE ratio of 12.93, a P/E/G ratio of 1.12 and a beta of 0.96. The firm has a 50 day simple moving average of $207.74 and a two-hundred day simple moving average of $217.35.
In related news, insider Brian C. Cornell sold 30,000 shares of the stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $216.35, for a total transaction of $6,490,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Cara A. Sylvester sold 2,030 shares of the stock in a transaction dated Wednesday, April 20th. The shares were sold at an average price of $250.00, for a total transaction of $507,500.00. Following the sale, the insider now directly owns 7,891 shares in the company, valued at $1,972,750. The disclosure for this sale can be found here. Insiders sold a total of 99,363 shares of company stock worth $21,970,253 over the last ninety days. Insiders own 0.29% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Target during the 4th quarter valued at about $1,094,330,000. Capital World Investors boosted its holdings in shares of Target by 22.9% during the 4th quarter. Capital World Investors now owns 8,941,995 shares of the retailer’s stock valued at $2,069,535,000 after acquiring an additional 1,666,948 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Target by 73.9% during the 1st quarter. Nordea Investment Management AB now owns 1,902,355 shares of the retailer’s stock valued at $414,599,000 after acquiring an additional 808,485 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Target during the 4th quarter valued at about $162,042,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Target by 1,140.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 701,790 shares of the retailer’s stock valued at $148,934,000 after acquiring an additional 645,209 shares during the last quarter. 81.83% of the stock is currently owned by institutional investors.
Target Company Profile (Get Rating)
Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.
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