TD Cowen Issues Pessimistic Forecast for Target (NYSE:TGT) Stock Price

Target (NYSE:TGT) had its target price cut by TD Cowen from $165.00 to $145.00 in a report issued on Thursday,Benzinga reports. They currently have a hold rating on the retailer’s stock.

Several other research analysts also recently issued reports on the stock. Daiwa America upgraded shares of Target to a “strong-buy” rating in a research note on Monday, August 26th. Melius Research began coverage on Target in a research note on Monday, September 23rd. They set a “buy” rating and a $180.00 price objective for the company. Sanford C. Bernstein initiated coverage on Target in a research note on Tuesday, October 22nd. They issued a “market perform” rating and a $168.00 target price on the stock. Piper Sandler cut their price target on Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $180.00 price objective on shares of Target in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Target currently has an average rating of “Moderate Buy” and an average target price of $162.13.

Target Stock Up 2.8 %

TGT opened at $125.01 on Thursday. The stock has a market capitalization of $57.59 billion, a P/E ratio of 13.26, a price-to-earnings-growth ratio of 1.57 and a beta of 1.24. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.27 and a current ratio of 0.94. Target has a one year low of $120.21 and a one year high of $181.86. The business’s 50-day simple moving average is $151.27 and its 200-day simple moving average is $149.61.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.45). The firm had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the firm earned $2.10 EPS. Analysts anticipate that Target will post 9.58 EPS for the current year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a $1.12 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 annualized dividend and a dividend yield of 3.58%. Target’s dividend payout ratio is presently 47.51%.

Insider Transactions at Target

In related news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the sale, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. This trade represents a 12.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the transaction, the chief accounting officer now owns 7,276 shares in the company, valued at approximately $1,114,173.88. This trade represents a 12.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,348 shares of company stock valued at $8,290,995 in the last ninety days. Corporate insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Target

A number of institutional investors have recently modified their holdings of TGT. TAP Consulting LLC purchased a new stake in Target in the 3rd quarter worth approximately $2,403,000. Olstein Capital Management L.P. boosted its holdings in shares of Target by 8.7% during the third quarter. Olstein Capital Management L.P. now owns 50,000 shares of the retailer’s stock worth $7,793,000 after purchasing an additional 4,000 shares during the last quarter. Smead Capital Management Inc. grew its position in shares of Target by 3.4% in the third quarter. Smead Capital Management Inc. now owns 1,243,928 shares of the retailer’s stock valued at $193,879,000 after purchasing an additional 41,394 shares during the period. Janus Henderson Group PLC increased its stake in Target by 20.5% in the first quarter. Janus Henderson Group PLC now owns 217,214 shares of the retailer’s stock valued at $38,484,000 after purchasing an additional 36,941 shares during the last quarter. Finally, Eagle Rock Investment Company LLC lifted its position in Target by 166.3% during the third quarter. Eagle Rock Investment Company LLC now owns 16,179 shares of the retailer’s stock worth $2,522,000 after buying an additional 10,103 shares during the period. Institutional investors and hedge funds own 79.73% 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.