Truist Financial Cuts Target (NYSE:TGT) Price Target to $151.00

Target (NYSE:TGTGet Rating) had its price objective decreased by Truist Financial from $165.00 to $151.00 in a report issued on Thursday morning, MarketBeat.com reports. Truist Financial currently has a hold rating on the retailer’s stock.

Several other research firms also recently commented on TGT. Deutsche Bank Aktiengesellschaft downgraded Target from a buy rating to a hold rating and decreased their price objective for the stock from $183.00 to $144.00 in a report on Thursday. KeyCorp decreased their price objective on Target from $200.00 to $180.00 and set an overweight rating on the stock in a report on Thursday. DA Davidson lifted their price objective on Target to $203.00 in a report on Monday, August 22nd. Bank of America lifted their price objective on Target from $165.00 to $180.00 and gave the stock a neutral rating in a report on Thursday, August 18th. Finally, Telsey Advisory Group reduced their price target on Target from $185.00 to $175.00 and set an outperform rating on the stock in a report on Thursday. 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 stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $185.07.

Target Trading Up 0.5 %

NYSE TGT opened at $162.88 on Thursday. The stock’s 50-day simple moving average is $159.39 and its two-hundred day simple moving average is $162.44. Target has a twelve month low of $137.16 and a twelve month high of $254.87. The company has a quick ratio of 0.14, a current ratio of 0.86 and a debt-to-equity ratio of 1.29. The company has a market capitalization 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 (NYSE:TGTGet Rating) last released its quarterly 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 analysts’ expectations of $26.40 billion. Target had a net margin of 3.17% and a return on equity of 30.51%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.03 EPS. Research analysts forecast that Target will post 7.88 EPS for the current fiscal year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, December 10th. Stockholders of record on Wednesday, November 16th will be given a $1.08 dividend. The ex-dividend date of this dividend 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 Transactions at Target

In other news, insider John J. Mulligan sold 39,101 shares of the business’s 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 sale, 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 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 TGT. Blume Capital Management Inc. bought a new stake in shares of Target in the 1st quarter worth approximately $25,000. Bell Investment Advisors Inc raised its holdings 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 acquiring an additional 105 shares during the last quarter. HHM Wealth Advisors LLC raised its holdings 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 acquiring an additional 90 shares during the last quarter. Annapolis Financial Services LLC raised its holdings 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 acquiring an additional 101 shares during the last quarter. 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 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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