Target (NYSE:TGT) Sets New 1-Year Low – Time to Sell?

Target Co. (NYSE:TGT)’s share price reached a new 52-week low during trading on Monday . The company traded as low as $111.84 and last traded at $113.34, with a volume of 5435060 shares. The stock had previously closed at $115.08.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TGT. Bank of America cut their target price on shares of Target from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Oppenheimer decreased their price objective on Target from $165.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. StockNews.com cut shares of Target from a “buy” rating to a “hold” rating in a report on Wednesday. Daiwa Capital Markets lowered shares of Target from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $170.00 to $130.00 in a research note on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft downgraded Target from a “buy” rating to a “hold” rating and reduced their price objective for the company from $184.00 to $108.00 in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $145.87.

Target Stock Down 4.8 %

The company’s 50 day moving average price is $131.18 and its two-hundred day moving average price is $140.74. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The stock has a market cap of $49.17 billion, a P/E ratio of 11.38, a PEG ratio of 1.94 and a beta of 1.18.

Target (NYSE:TGT) last released its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.17. The company had revenue of $30.92 billion for the quarter, compared to analysts’ expectations of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Equities analysts forecast that Target Co. will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.17%. Target’s payout ratio is presently 50.56%.

Institutional Investors Weigh In On Target

Several hedge funds have recently made changes to their positions in TGT. Legacy Investment Solutions LLC bought a new position in shares of Target in the 3rd quarter worth $28,000. Hopwood Financial Services Inc. purchased a new stake in Target during the fourth quarter valued at approximately $29,000. Bernard Wealth Management Corp. purchased a new position in Target in the fourth quarter worth $29,000. MCF Advisors LLC increased its position in shares of Target by 175.3% during the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after purchasing an additional 163 shares in the last quarter. Finally, Raleigh Capital Management Inc. lifted its holdings in shares of Target by 110.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock valued at $35,000 after purchasing an additional 135 shares during the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

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.