Target (NYSE:TGT) Hits New 52-Week Low at $118.55

Shares of Target Co. (NYSE:TGT) hit a new 52-week low on Monday . The stock traded as low as $118.55 and last traded at $118.71, with a volume of 1918668 shares trading hands. The stock had previously closed at $123.05.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. BMO Capital Markets decreased their target price on shares of Target from $140.00 to $130.00 and set a “market perform” rating for the company in a research note on Thursday, August 17th. Piper Sandler decreased their target price on shares of Target from $220.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday, August 14th. StockNews.com upgraded shares of Target from a “hold” rating to a “buy” rating in a research note on Thursday. TheStreet cut shares of Target from a “b-” rating to a “c+” rating in a report on Friday, June 16th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $161.00 price target on shares of Target in a report on Thursday, August 17th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $159.21.

Target Stock Performance

The company has a current ratio of 0.83, a quick ratio of 0.18 and a debt-to-equity ratio of 1.24. The company’s 50-day moving average price is $129.09 and its two-hundred day moving average price is $142.93. The company has a market cap of $55.04 billion, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 1.17 and a beta of 1.01.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 16th. The retailer reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.39. Target had a net margin of 3.12% and a return on equity of 29.43%. The company had revenue of $24.77 billion during the quarter, compared to analyst estimates of $25.18 billion. During the same quarter last year, the firm posted $0.39 EPS. The business’s revenue for the quarter was down 4.9% on a year-over-year basis. As a group, equities analysts forecast that Target Co. will post 7.6 earnings per share for the current year.

Insider Transactions at Target

In other news, insider Brian C. Cornell sold 30,000 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $130.70, for a total value of $3,921,000.00. Following the completion of the sale, the insider now directly owns 399,669 shares of the company’s stock, valued at $52,236,738.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is owned by insiders.

Hedge Funds Weigh In On Target

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Impact Partnership Wealth LLC acquired a new position in Target during the second quarter valued at approximately $26,000. Financial Connections Group Inc. acquired a new stake in shares of Target in the fourth quarter worth $28,000. Sittner & Nelson LLC grew its stake in shares of Target by 150.6% in the second quarter. Sittner & Nelson LLC now owns 213 shares of the retailer’s stock worth $28,000 after acquiring an additional 128 shares during the last quarter. First Capital Advisors Group LLC. acquired a new stake in shares of Target in the second quarter worth $31,000. Finally, WFA of San Diego LLC acquired a new stake in shares of Target in the second quarter worth $33,000. Institutional investors own 78.33% of the company’s stock.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.