Target (NYSE:TGT) PT Lowered to $150.00

Target (NYSE:TGTGet Rating) had its target price reduced by investment analysts at Truist Financial from $171.00 to $150.00 in a report released on Wednesday, Stock Target Advisor reports. The firm presently has a “hold” rating on the retailer’s stock. Truist Financial’s target price indicates a potential downside of 4.54% from the company’s current price.

Several other equities analysts also recently issued reports on TGT. Barclays decreased their price objective on shares of Target from $200.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday. Jefferies Financial Group decreased their price objective on shares of Target from $252.00 to $168.00 and set a “hold” rating for the company in a research note on Thursday, May 19th. UBS Group decreased their price objective on shares of Target from $225.00 to $205.00 and set a “buy” rating for the company in a research note on Wednesday. Citigroup decreased their target price on shares of Target from $274.00 to $188.00 and set a “buy” rating for the company in a research note on Thursday, May 19th. Finally, The Goldman Sachs Group decreased their target price on shares of Target from $290.00 to $191.00 and set a “buy” rating for the company in a research note on Thursday, May 19th. Ten research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $198.78.

Shares of TGT stock traded up $1.16 on Wednesday, reaching $157.14. 84,609 shares of the stock were exchanged, compared to its average volume of 8,817,879. The company has a current ratio of 0.87, a quick ratio of 0.14 and a debt-to-equity ratio of 1.24. The business’s 50 day moving average price is $207.74 and its 200 day moving average price is $217.35. The company has a market capitalization of $72.87 billion, a price-to-earnings ratio of 13.03, a PEG ratio of 1.12 and a beta of 0.96. Target has a twelve month low of $145.51 and a twelve month high of $268.98.

Target (NYSE:TGTGet Rating) last issued its earnings results on Wednesday, May 18th. The retailer reported $2.19 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.88). Target had a return on equity of 44.75% and a net margin of 5.48%. The firm had revenue of $24.83 billion for the quarter, compared to analyst estimates of $24.48 billion. During the same quarter in the previous year, the firm posted $3.69 EPS. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. Equities research analysts forecast that Target will post 11.08 earnings per share for the current year.

In other news, insider Michael J. Fiddelke sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $210.19, for a total transaction of $1,050,950.00. Following the completion of the transaction, the insider now directly owns 31,130 shares of the company’s stock, valued at approximately $6,543,214.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Cara A. Sylvester sold 2,030 shares of the firm’s stock in a transaction that occurred on Wednesday, April 20th. The stock was sold at an average price of $250.00, for a total transaction of $507,500.00. Following the transaction, the insider now directly owns 7,891 shares of the company’s stock, valued at $1,972,750. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 99,363 shares of company stock valued at $21,970,253. 0.29% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Target by 1.4% during the first quarter. Vanguard Group Inc. now owns 43,254,086 shares of the retailer’s stock worth $9,179,381,000 after acquiring an additional 589,926 shares during the last quarter. State Street Corp boosted its position in Target by 0.5% during the fourth quarter. State Street Corp now owns 35,922,818 shares of the retailer’s stock worth $8,313,977,000 after acquiring an additional 191,484 shares during the last quarter. Capital World Investors boosted its position in Target by 22.9% during the fourth quarter. Capital World Investors now owns 8,941,995 shares of the retailer’s stock worth $2,069,535,000 after acquiring an additional 1,666,948 shares during the last quarter. Geode Capital Management LLC boosted its position in Target by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 8,187,017 shares of the retailer’s stock worth $1,890,357,000 after acquiring an additional 157,019 shares during the last quarter. Finally, Norges Bank acquired a new stake in Target during the fourth quarter worth approximately $1,094,330,000. 81.83% of the stock is owned by institutional investors and hedge funds.

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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