Tigress Financial Cuts Target (NYSE:TGT) Price Target to $215.00

Target (NYSE:TGT – Get Rating) had its price target decreased by Tigress Financial from $320.00 to $215.00 in a research report released on Friday, Marketbeat.com reports. Tigress Financial currently has a buy rating on the retailer’s stock.

A number of other equities analysts also recently issued reports on TGT. Bank of America downgraded Target from a buy rating to a neutral rating and reduced their price target for the stock from $235.00 to $165.00 in a research report on Wednesday, June 8th. Robert W. Baird lowered their target price on shares of Target from $195.00 to $180.00 and set an outperform rating on the stock in a research note on Wednesday, June 8th. Credit Suisse Group reduced their price target on shares of Target from $286.00 to $180.00 and set an outperform rating for the company in a research report on Monday, May 23rd. Raymond James cut their price objective on shares of Target from $205.00 to $190.00 and set a strong-buy rating for the company in a report on Wednesday, June 8th. Finally, Truist Financial cut their price target on shares of Target from $171.00 to $150.00 and set a hold rating for the company in a report on Wednesday, June 8th. Nine analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $189.08.

Target Stock Performance

TGT stock opened at $165.55 on Friday. Target has a 1 year low of $137.16 and a 1 year high of $268.98. The stock’s fifty day moving average price is $151.35 and its 200-day moving average price is $194.16. The company has a market cap of $76.76 billion, a P/E ratio of 13.73, a price-to-earnings-growth ratio of 1.84 and a beta of 1.03. 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 (NYSE:TGT – Get Rating) last issued its earnings results on Wednesday, May 18th. The retailer reported $2.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($0.81). The firm had revenue of $24.83 billion during the quarter, compared to the consensus estimate of $24.48 billion. Target had a return on equity of 44.75% and a net margin of 5.48%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the firm posted $3.69 earnings per share. On average, equities analysts forecast that Target will post 8.67 earnings per share for the current year.

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, September 10th. Stockholders of record on Wednesday, August 17th will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.61%. This is a positive change from Target’s previous quarterly dividend of $0.90. The ex-dividend date is Tuesday, August 16th. Target’s dividend payout ratio is presently 29.85%.

Insider Activity at Target

In other news, insider John J. Mulligan sold 45,490 shares of the stock in a transaction on Friday, June 17th. The stock was sold at an average price of $139.98, for a total transaction of $6,367,690.20. Following the completion of the transaction, the insider now owns 157,333 shares in the company, valued at approximately $22,023,473.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by insiders.

Institutional Trading of Target

Several institutional investors and hedge funds have recently modified their holdings of the business. Measured Wealth Private Client Group LLC raised its stake in Target by 3.4% during the first quarter. Measured Wealth Private Client Group LLC now owns 1,322 shares of the retailer’s stock valued at $281,000 after buying an additional 43 shares during the last quarter. J2 Capital Management Inc increased its position in Target by 3.1% during the first quarter. J2 Capital Management Inc now owns 1,524 shares of the retailer’s stock valued at $323,000 after acquiring an additional 46 shares during the last quarter. Tortoise Investment Management LLC increased its position in Target by 18.5% during the fourth quarter. Tortoise Investment Management LLC now owns 301 shares of the retailer’s stock valued at $70,000 after acquiring an additional 47 shares during the last quarter. Cypress Capital LLC grew its holdings in Target by 0.8% during the fourth quarter. Cypress Capital LLC now owns 5,807 shares of the retailer’s stock valued at $1,344,000 after purchasing an additional 47 shares during the period. Finally, Carolinas Wealth Consulting LLC grew its holdings in Target by 5.4% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 944 shares of the retailer’s stock valued at $218,000 after purchasing an additional 48 shares during the period. Hedge funds and other institutional investors own 81.83% of the company’s stock.

About Target

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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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