KeyCorp Cuts Target (NYSE:TGT) Price Target to $180.00

Target (NYSE:TGTGet Rating) had its price objective cut by KeyCorp from $200.00 to $180.00 in a report published on Thursday morning, MarketBeat.com reports. They currently have an overweight rating on the retailer’s stock. KeyCorp also issued estimates for Target’s Q1 2024 earnings at $2.63 EPS.

Several other equities research analysts also recently weighed in on the stock. Piper Sandler assumed coverage on shares of Target in a research note on Friday, July 22nd. They set a neutral rating and a $190.00 target price on the stock. Tigress Financial cut their target price on shares of Target from $320.00 to $215.00 and set a buy rating on the stock in a research note on Friday, July 29th. Truist Financial upped their target price on shares of Target from $150.00 to $165.00 and gave the stock a hold rating in a research note on Thursday, August 18th. Guggenheim increased their price objective on shares of Target to $190.00 in a research report on Monday, August 22nd. Finally, Wells Fargo & Company raised shares of Target to an overweight rating in a research report on Tuesday, August 9th. Nine research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Target currently has an average rating of Moderate Buy and an average price target of $185.07.

Target Price Performance

Target stock opened at $162.88 on Thursday. The company’s 50 day simple moving average is $159.39 and its 200-day simple moving average is $162.44. The company has a market capitalization of $74.97 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 2.09 and a beta of 1.02. Target has a 1 year low of $137.16 and a 1 year high of $254.87. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.14 and a current ratio of 0.86.

Target (NYSE:TGTGet Rating) last announced its earnings results on Wednesday, November 16th. The retailer reported $1.54 earnings per share for the quarter, missing the consensus estimate of $2.12 by ($0.58). Target had a return on equity of 30.51% and a net margin of 3.17%. The business had revenue of $26.12 billion for the quarter, compared to analysts’ expectations of $26.40 billion. During the same period in the previous year, the company earned $3.03 earnings per share. Target’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, equities research analysts expect that Target will post 7.88 earnings per share for the current year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders of record on Wednesday, November 16th will be given a dividend of $1.08 per share. The ex-dividend date is Tuesday, November 15th. This represents a $4.32 dividend on an annualized basis and a yield of 2.65%. Target’s dividend payout ratio (DPR) is 59.18%.

Insider Buying and Selling

In related news, insider John J. Mulligan sold 39,101 shares of Target stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $166.02, for a total transaction of $6,491,548.02. Following the sale, the insider now owns 118,425 shares of the company’s stock, valued at approximately $19,660,918.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Target

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Target by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 43,254,086 shares of the retailer’s stock worth $9,179,381,000 after purchasing an additional 589,926 shares during the last quarter. State Street Corp increased its position in shares of Target by 2.6% in the 3rd quarter. State Street Corp now owns 34,191,786 shares of the retailer’s stock worth $5,073,719,000 after purchasing an additional 852,361 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Target by 20.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,177,540 shares of the retailer’s stock worth $1,213,466,000 after purchasing an additional 1,401,559 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Target by 122,068.9% during the 3rd quarter. Fisher Asset Management LLC now owns 4,793,906 shares of the retailer’s stock valued at $711,368,000 after buying an additional 4,789,982 shares during the last quarter. Finally, FMR LLC grew its position in shares of Target by 27.5% during the 2nd quarter. FMR LLC now owns 4,423,218 shares of the retailer’s stock valued at $624,690,000 after buying an additional 953,518 shares during the last quarter. Institutional investors own 77.42% of the company’s stock.

Target Company Profile

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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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