Telsey Advisory Group Trims Target (NYSE:TGT) Target Price to $175.00

Target (NYSE:TGTGet Rating) had its price objective cut by Telsey Advisory Group from $185.00 to $175.00 in a research note issued to investors on Thursday, Marketbeat.com reports. They currently have an outperform rating on the retailer’s stock.

TGT has been the subject of a number of other reports. Wells Fargo & Company raised shares of Target to an overweight rating in a research report on Tuesday, August 9th. The Goldman Sachs Group lifted their price objective on shares of Target from $155.00 to $205.00 and gave the stock a buy rating in a research report on Thursday, August 18th. Royal Bank of Canada reduced their price objective on shares of Target from $231.00 to $223.00 and set an outperform rating for the company in a research report on Thursday, August 18th. Stifel Nicolaus lifted their price objective on shares of Target from $185.00 to $195.00 and gave the stock a hold rating in a research report on Thursday, August 18th. Finally, MKM Partners reduced their price objective on shares of Target from $163.00 to $161.00 and set a neutral rating for the company in a research report on Thursday, August 18th. Nine research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $185.07.

Target Price Performance

Shares of TGT opened at $162.88 on Thursday. The company has a market cap of $74.97 billion, a price-to-earnings ratio of 22.31, a PEG 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’s fifty day simple moving average is $159.39 and its 200 day simple moving average is $162.44. The company has a current ratio of 0.86, a quick ratio of 0.14 and a debt-to-equity ratio of 1.29.

Target (NYSE:TGTGet Rating) last issued its earnings results on Wednesday, November 16th. The retailer reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $2.12 by ($0.58). The firm had revenue of $26.12 billion for the quarter, compared to analyst estimates of $26.40 billion. Target had a return on equity of 30.51% and a net margin of 3.17%. Target’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.03 earnings per share. On average, research analysts forecast that Target will post 7.88 earnings per share for the current fiscal 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 given a dividend of $1.08 per share. 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 dividend payout ratio is 59.18%.

Insiders Place Their Bets

In other Target news, insider John J. Mulligan sold 39,101 shares of the business’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 completion of the transaction, the insider now owns 118,425 shares of the company’s stock, valued at $19,660,918.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TGT. Blume Capital Management Inc. acquired a new position in Target during the first quarter worth about $25,000. Bell Investment Advisors Inc raised its stake in Target by 122.1% during the third quarter. Bell Investment Advisors Inc now owns 191 shares of the retailer’s stock worth $28,000 after acquiring an additional 105 shares in the last quarter. HHM Wealth Advisors LLC raised its stake in Target by 75.6% during the second quarter. HHM Wealth Advisors LLC now owns 209 shares of the retailer’s stock worth $30,000 after acquiring an additional 90 shares in the last quarter. Annapolis Financial Services LLC raised its stake in Target by 96.2% during the third quarter. Annapolis Financial Services LLC now owns 206 shares of the retailer’s stock worth $30,000 after acquiring an additional 101 shares in the last quarter. Finally, Roble Belko & Company Inc acquired a new position in shares of Target in the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 77.42% 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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Analyst Recommendations for Target (NYSE:TGT)

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