The Goldman Sachs Group Cuts Target (NYSE:TGT) Price Target to $175.00

Target (NYSE:TGTGet Rating) had its target price decreased by The Goldman Sachs Group from $205.00 to $175.00 in a research note issued to investors on Thursday, MarketBeat reports. The Goldman Sachs Group currently has a buy rating on the retailer’s stock.

Several other equities research analysts have also recently issued reports on the stock. Cowen raised their price target on shares of Target to $210.00 in a research note on Monday, August 22nd. Telsey Advisory Group decreased their price target on shares of Target from $185.00 to $175.00 and set an outperform rating on the stock in a research note on Thursday. Deutsche Bank Aktiengesellschaft cut shares of Target from a buy rating to a hold rating and decreased their price target for the stock from $183.00 to $144.00 in a research note on Thursday. Tigress Financial decreased their price target 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. Finally, Truist Financial decreased their target price on shares of Target from $165.00 to $151.00 and set a hold rating on the stock in a research report on Thursday. Nine equities research 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 MarketBeat, Target currently has a consensus rating of Moderate Buy and an average target price of $185.07.

Target Stock Performance

NYSE:TGT opened at $162.88 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.14 and a debt-to-equity ratio of 1.29. The firm has a 50-day moving average price of $159.39 and a two-hundred day moving average price of $162.44. Target has a twelve month low of $137.16 and a twelve month high of $254.87. The company has a market capitalization of $74.97 billion, a P/E ratio of 22.31, a price-to-earnings-growth ratio of 2.09 and a beta of 1.02.

Target (NYSE:TGTGet Rating) last posted 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 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 quarter last year, the business posted $3.03 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. As a group, research analysts expect 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. Stockholders of record on Wednesday, November 16th will be paid 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 currently 59.18%.

Insider Activity

In other news, insider John J. Mulligan sold 39,101 shares of Target stock in a transaction that occurred 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 in the company, valued at $19,660,918.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.29% of the company’s stock.

Institutional Trading of Target

A number of hedge funds have recently made changes to their positions in the company. Measured Wealth Private Client Group LLC raised its stake in shares of 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 purchasing an additional 43 shares during the period. Perennial Investment Advisors LLC increased its stake in shares of Target by 2.5% in the first quarter. Perennial Investment Advisors LLC now owns 2,018 shares of the retailer’s stock worth $427,000 after buying an additional 49 shares during the last quarter. Asset Management Resources LLC increased its stake in shares of Target by 4.6% in the first quarter. Asset Management Resources LLC now owns 1,128 shares of the retailer’s stock worth $239,000 after buying an additional 50 shares during the last quarter. 1ST Source Bank increased its stake in shares of Target by 1.2% in the first quarter. 1ST Source Bank now owns 4,490 shares of the retailer’s stock worth $953,000 after buying an additional 52 shares during the last quarter. Finally, Regent Peak Wealth Advisors LLC increased its stake in shares of Target by 2.8% in the first quarter. Regent Peak Wealth Advisors LLC now owns 1,945 shares of the retailer’s stock worth $413,000 after buying an additional 53 shares during the last quarter. Hedge funds and other institutional investors 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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