Target (NYSE:TGT) Trading Down 0.7% – Here’s What Happened

Target Co. (NYSE:TGT)’s stock price traded down 0.7% on Wednesday . The company traded as low as $90.70 and last traded at $91.42. 1,324,580 shares traded hands during trading, a decline of 82% from the average session volume of 7,369,538 shares. The stock had previously closed at $92.08.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TGT shares. Gordon Haskett lowered shares of Target from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. UBS Group decreased their price objective on Target from $170.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. JPMorgan Chase & Co. dropped their target price on Target from $146.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Robert W. Baird downgraded Target from an “outperform” rating to a “neutral” rating and set a $110.00 price target for the company. in a report on Monday, April 7th. Finally, Roth Capital set a $122.00 price objective on shares of Target in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, twenty-two have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $132.37.

Target Price Performance

The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $42.43 billion, a price-to-earnings ratio of 9.88, a price-to-earnings-growth ratio of 1.94 and a beta of 1.28. The company has a 50 day moving average of $109.77 and a 200 day moving average of $130.28.

Target (NYSE:TGT) last issued its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, topping the consensus estimate of $2.24 by $0.17. The firm had revenue of $30.92 billion during the quarter, compared to analyst estimates of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. As a group, equities research analysts forecast that Target Co. will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 annualized dividend and a yield of 4.81%. Target’s dividend payout ratio is presently 50.56%.

Institutional Trading of Target

Institutional investors and hedge funds have recently bought and sold shares of the business. Bernard Wealth Management Corp. acquired a new stake in Target in the 4th quarter valued at $30,000. Hopwood Financial Services Inc. purchased a new stake in shares of Target during the fourth quarter valued at approximately $29,000. MCF Advisors LLC boosted its stake in shares of Target by 175.3% in the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after purchasing an additional 163 shares during the period. Raleigh Capital Management Inc. increased its stake in Target by 110.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after buying an additional 135 shares during the period. Finally, Legacy Investment Solutions LLC grew its stake in shares of Target by 47.5% during the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock valued at $35,000 after acquiring an additional 85 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Company Profile

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.