Target (NYSE:TGT) Lowered to Market Perform at BMO Capital Markets

BMO Capital Markets downgraded shares of Target (NYSE:TGTGet Rating) from an outperform rating to a market perform rating in a research report sent to investors on Thursday morning, Marketbeat reports. BMO Capital Markets currently has $165.00 target price on the retailer’s stock, down from their prior target price of $190.00.

Several other equities research analysts have also weighed in on TGT. Tigress Financial decreased their price objective on Target from $320.00 to $215.00 and set a buy rating for the company in a report on Friday, July 29th. JPMorgan Chase & Co. lifted their price objective on Target from $180.00 to $190.00 and gave the stock an overweight rating in a report on Tuesday, August 9th. Royal Bank of Canada decreased their price objective on Target from $231.00 to $223.00 and set an outperform rating for the company in a report on Thursday, August 18th. Jefferies Financial Group raised Target from a hold rating to a buy rating and lifted their price objective for the stock from $170.00 to $185.00 in a report on Tuesday, October 18th. Finally, KeyCorp cut their target price on Target from $200.00 to $180.00 and set an overweight rating for the company in a research note on Thursday. Nine investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $185.07.

Target Trading Up 0.5 %

Shares of Target stock opened at $162.88 on Thursday. Target has a 1 year low of $137.16 and a 1 year high of $254.87. The firm has a market cap of $74.97 billion, a PE ratio of 22.31, a P/E/G ratio of 2.09 and a beta of 1.02. The stock has a fifty day moving average price of $159.39 and a 200-day moving average price of $162.44. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.86 and a quick ratio of 0.14.

Target (NYSE:TGTGet Rating) last announced its earnings results on Wednesday, November 16th. The retailer reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.12 by ($0.58). Target had a net margin of 3.17% and a return on equity of 30.51%. 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 prior year, the business earned $3.03 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities research analysts anticipate that Target will post 7.88 EPS for the current year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Wednesday, November 16th will be issued 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 dividend yield of 2.65%. Target’s dividend payout ratio is 59.18%.

Insider Activity at Target

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

Hedge Funds Weigh In On Target

A number of large investors have recently bought and sold shares of TGT. Blume Capital Management Inc. purchased a new position in Target in the 1st quarter worth approximately $25,000. Bell Investment Advisors Inc increased its stake in Target by 122.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 191 shares of the retailer’s stock worth $28,000 after purchasing an additional 105 shares during the period. HHM Wealth Advisors LLC increased its stake in Target by 75.6% in the 2nd quarter. HHM Wealth Advisors LLC now owns 209 shares of the retailer’s stock worth $30,000 after purchasing an additional 90 shares during the period. Annapolis Financial Services LLC increased its stake in Target by 96.2% in the 3rd quarter. Annapolis Financial Services LLC now owns 206 shares of the retailer’s stock worth $30,000 after purchasing an additional 101 shares during the period. Finally, Roble Belko & Company Inc purchased a new position in Target in the 1st quarter worth approximately $32,000. 77.42% of the stock is owned by hedge funds and other institutional investors.

About Target

(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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Analyst Recommendations for Target (NYSE:TGT)

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