Target (NYSE:TGT) Downgraded by BMO Capital Markets

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

TGT has been the topic of several other reports. Raymond James boosted 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. Cowen boosted their price objective on shares of Target to $210.00 in a research report on Monday, August 22nd. Stifel Nicolaus boosted 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. JPMorgan Chase & Co. boosted their price objective on shares of Target from $180.00 to $190.00 and gave the stock an overweight rating in a research report on Tuesday, August 9th. Finally, KeyCorp dropped their price objective on shares of Target from $200.00 to $180.00 and set an overweight rating for the company in a research report on Thursday. Nine analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $185.07.

Target Stock Up 0.5 %

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 stock’s 50 day moving average is $159.39 and its two-hundred day moving average is $161.91. The company has a market capitalization of $74.97 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 2.10 and a beta of 1.02. Target has a 1-year low of $137.16 and a 1-year high of $254.87.

Target (NYSE:TGTGet Rating) last announced its earnings results on Wednesday, November 16th. The retailer reported $1.54 EPS for the quarter, missing the consensus estimate of $2.12 by ($0.58). The business had revenue of $26.12 billion during 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%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.03 earnings per share. Equities analysts forecast that Target will post 6.16 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Wednesday, November 16th will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Tuesday, November 15th. Target’s payout ratio is presently 59.18%.

Insider Transactions at Target

In other news, insider John J. Mulligan sold 39,101 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 118,425 shares in the company, valued at approximately $19,660,918.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Target

Large investors have recently modified their holdings of the business. Measured Wealth Private Client Group LLC raised its holdings in Target by 3.4% in the 1st quarter. Measured Wealth Private Client Group LLC now owns 1,322 shares of the retailer’s stock worth $281,000 after purchasing an additional 43 shares in the last quarter. Perennial Investment Advisors LLC raised its holdings in Target by 2.5% in the 1st quarter. Perennial Investment Advisors LLC now owns 2,018 shares of the retailer’s stock worth $427,000 after purchasing an additional 49 shares in the last quarter. Asset Management Resources LLC raised its holdings in Target by 4.6% in the 1st quarter. Asset Management Resources LLC now owns 1,128 shares of the retailer’s stock worth $239,000 after purchasing an additional 50 shares in the last quarter. 1ST Source Bank raised its holdings in Target by 1.2% in the 1st quarter. 1ST Source Bank now owns 4,490 shares of the retailer’s stock worth $953,000 after purchasing an additional 52 shares in the last quarter. Finally, Regent Peak Wealth Advisors LLC raised its holdings in Target by 2.8% in the 1st quarter. Regent Peak Wealth Advisors LLC now owns 1,945 shares of the retailer’s stock worth $413,000 after purchasing an additional 53 shares in the last quarter. 77.42% of the stock is currently owned by institutional investors and hedge funds.

Target Company Profile

(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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