Wells Fargo & Company Has Lowered Expectations for Target (NYSE:TGT) Stock Price

Target (NYSE:TGT) had its price objective reduced by Wells Fargo & Company from $150.00 to $135.00 in a report published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the retailer’s stock.

A number of other research firms have also weighed in on TGT. Daiwa America lowered shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. BMO Capital Markets dropped their target price on shares of Target from $160.00 to $120.00 and set a “market perform” rating for the company in a report on Thursday, November 21st. Evercore ISI cut their price target on Target from $135.00 to $130.00 and set an “in-line” rating for the company in a research note on Wednesday. TD Cowen lowered their price objective on Target from $165.00 to $145.00 and set a “hold” rating on the stock in a research report on Thursday, November 21st. Finally, Oppenheimer reiterated an “outperform” rating and set a $165.00 target price on shares of Target in a research report on Monday, November 25th. 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 stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $148.23.

Target Trading Down 0.4 %

NYSE:TGT opened at $116.70 on Wednesday. The firm has a market capitalization of $53.47 billion, a price-to-earnings ratio of 12.38, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The business has a fifty day moving average price of $132.91 and a 200-day moving average price of $141.92. Target has a one year low of $112.53 and a one year high of $181.86.

Target (NYSE:TGT) last posted its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, topping the consensus estimate of $2.24 by $0.17. Target had a return on equity of 31.11% and a net margin of 4.06%. The firm had revenue of $30.92 billion for the quarter, compared to the consensus estimate of $30.83 billion. Sell-side analysts forecast that Target will post 8.69 EPS for the current year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Wednesday, February 12th were given a $1.12 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a yield of 3.84%. Target’s dividend payout ratio is presently 50.56%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Cynosure Group LLC boosted its stake in shares of Target by 4.3% during the 3rd quarter. Cynosure Group LLC now owns 1,590 shares of the retailer’s stock worth $248,000 after purchasing an additional 65 shares during the period. Hancock Whitney Corp lifted its stake in Target by 3.3% in the third quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock worth $336,000 after purchasing an additional 68 shares during the last quarter. Eagle Bluffs Wealth Management LLC grew its stake in shares of Target by 1.1% during the third quarter. Eagle Bluffs Wealth Management LLC now owns 6,818 shares of the retailer’s stock valued at $1,063,000 after buying an additional 73 shares during the last quarter. Proffitt & Goodson Inc. raised its holdings in shares of Target by 2.2% in the third quarter. Proffitt & Goodson Inc. now owns 3,460 shares of the retailer’s stock worth $539,000 after buying an additional 73 shares during the period. Finally, Kathmere Capital Management LLC raised its holdings in shares of Target by 3.0% in the fourth quarter. Kathmere Capital Management LLC now owns 2,541 shares of the retailer’s stock worth $343,000 after buying an additional 73 shares during the period. 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.