Target (NYSE:TGT) Stock Price Up 2.2% – Should You Buy?

Target Co. (NYSE:TGT) shares rose 2.2% during mid-day trading on Thursday . The stock traded as high as $92.38 and last traded at $92.43. Approximately 1,103,335 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 5,574,590 shares. The stock had previously closed at $90.46.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. UBS Group cut their price objective on shares of Target from $170.00 to $155.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Citigroup dropped their price objective on Target from $120.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday. Bank of America cut their target price on shares of Target from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. JPMorgan Chase & Co. reduced their price objective on shares of Target from $146.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. Finally, DA Davidson dropped their price objective on shares of Target from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Target has a consensus rating of “Hold” and an average target price of $132.37.

Target Trading Up 2.9 %

The stock has a market cap of $42.43 billion, a P/E ratio of 9.88, a PEG ratio of 1.94 and a beta of 1.28. The firm’s fifty day moving average price is $108.98 and its two-hundred day moving average price is $129.87. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25.

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

Target Dividend Announcement

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

Institutional Investors Weigh In On Target

Several hedge funds have recently added to or reduced their stakes in TGT. Bernard Wealth Management Corp. purchased a new position in shares of Target during the 4th quarter valued at about $30,000. Hopwood Financial Services Inc. purchased a new position in shares of Target during the fourth quarter worth approximately $29,000. MCF Advisors LLC lifted its holdings in shares of Target by 175.3% in the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after acquiring an additional 163 shares during the last quarter. Raleigh Capital Management Inc. boosted its stake in shares of Target by 110.7% in 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 in the last quarter. Finally, Legacy Investment Solutions LLC grew its holdings in shares of Target by 47.5% during the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock valued at $35,000 after purchasing an additional 85 shares during the last quarter. Institutional investors 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.