Target (NYSE:TGT) PT Lowered to $155.00 at Morgan Stanley

Target (NYSE:TGTGet Rating) had its target price reduced by Morgan Stanley from $190.00 to $155.00 in a report released on Thursday morning, Marketbeat Ratings reports. They currently have an equal weight rating on the retailer’s stock.

A number of other equities analysts have also recently commented on TGT. Piper Sandler raised Target from a neutral rating to an overweight rating and boosted their price target for the stock from $190.00 to $200.00 in a report on Thursday. The Goldman Sachs Group lowered their target price on Target from $205.00 to $175.00 and set a buy rating for the company in a report on Thursday. Truist Financial lowered their target price on Target from $165.00 to $151.00 and set a hold rating for the company in a report on Thursday. JPMorgan Chase & Co. upped their target price on Target from $180.00 to $190.00 and gave the stock an overweight rating in a report on Tuesday, August 9th. Finally, Raymond James upped their target price on Target from $190.00 to $200.00 and gave the stock a strong-buy rating in a report on Thursday, August 18th. Nine analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $185.07.

Target Price Performance

Shares of NYSE TGT opened at $162.88 on Thursday. 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 has a fifty-two week low of $137.16 and a fifty-two week high of $254.87. The stock has a market capitalization 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 business has a fifty day moving average price of $159.39 and a two-hundred day moving average price of $162.44.

Target (NYSE:TGTGet Rating) last posted its quarterly earnings results on Wednesday, November 16th. The retailer reported $1.54 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $26.40 billion. During the same period last year, the firm posted $3.03 EPS. Target’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, equities analysts predict that Target will post 7.88 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders of record on Wednesday, November 16th will be issued a $1.08 dividend. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $4.32 annualized dividend and a yield of 2.65%. Target’s payout ratio is currently 59.18%.

Insiders Place Their Bets

In other Target news, insider John J. Mulligan sold 39,101 shares of the stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $166.02, for a total value of $6,491,548.02. Following the transaction, the insider now owns 118,425 shares in the company, valued at $19,660,918.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. IFM Investors Pty Ltd raised its stake in shares of Target by 17.4% in the first quarter. IFM Investors Pty Ltd now owns 76,626 shares of the retailer’s stock worth $16,262,000 after purchasing an additional 11,368 shares during the last quarter. Pinnacle Financial Partners Inc. grew its holdings in Target by 2.9% during the first quarter. Pinnacle Financial Partners Inc. now owns 7,435 shares of the retailer’s stock valued at $1,578,000 after purchasing an additional 211 shares during the period. DAVENPORT & Co LLC grew its holdings in Target by 10.6% during the first quarter. DAVENPORT & Co LLC now owns 25,082 shares of the retailer’s stock valued at $5,323,000 after purchasing an additional 2,397 shares during the period. Brandywine Oak Private Wealth LLC grew its holdings in Target by 2.7% during the first quarter. Brandywine Oak Private Wealth LLC now owns 4,985 shares of the retailer’s stock valued at $1,057,000 after purchasing an additional 132 shares during the period. Finally, Heritage Investors Management Corp grew its holdings in Target by 7.4% during the first quarter. Heritage Investors Management Corp now owns 28,582 shares of the retailer’s stock valued at $6,066,000 after purchasing an additional 1,963 shares during the period. Institutional investors own 77.42% of the company’s stock.

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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