Target (NYSE:TGT) Price Target Lowered to $225.00 at UBS Group

Target (NYSE:TGTGet Rating) had its price target lowered by UBS Group to $225.00 in a research report released on Thursday morning, Stock Target Advisor reports. The brokerage currently has a hold rating on the retailer’s stock.

Several other brokerages have also issued reports on TGT. JPMorgan Chase & Co. decreased their price objective on Target from $302.00 to $188.00 and set an overweight rating for the company in a research report on Thursday. Stifel Nicolaus lowered Target from a buy rating to a hold rating and cut their price target for the company from $270.00 to $185.00 in a research note on Wednesday, May 18th. The Goldman Sachs Group decreased their price objective on Target from $290.00 to $191.00 and set a buy rating for the company in a report on Thursday. StockNews.com raised Target from a buy rating to a strong-buy rating in a research report on Thursday, May 12th. Finally, MKM Partners dropped their price target on Target from $253.00 to $180.00 and set a neutral rating on the stock in a research report on Thursday. Ten investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Buy and an average price target of $221.96.

Target stock opened at $155.36 on Thursday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.35 and a current ratio of 0.87. Target has a 1 year low of $150.89 and a 1 year high of $268.98. The firm’s 50-day moving average is $222.35 and its 200-day moving average is $225.51. The company has a market cap of $72.04 billion, a P/E ratio of 12.88, a PEG ratio of 0.65 and a beta of 0.94.

Target (NYSE:TGTGet Rating) last announced its earnings results on Wednesday, May 18th. The retailer reported $2.19 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.88). Target had a return on equity of 44.75% and a net margin of 5.48%. The firm had revenue of $24.83 billion during the quarter, compared to analyst estimates of $24.48 billion. During the same quarter in the previous year, the business earned $3.69 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, sell-side analysts predict that Target will post 14.27 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Stockholders of record on Wednesday, May 18th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Tuesday, May 17th. This represents a $3.60 annualized dividend and a dividend yield of 2.32%. Target’s payout ratio is 29.85%.

In related news, insider Brian C. Cornell sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $216.35, for a total value of $6,490,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Robert M. Harrison sold 2,080 shares of the stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $217.87, for a total value of $453,169.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 99,363 shares of company stock valued at $21,970,253. 0.29% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the company. Toroso Investments LLC increased its holdings in Target by 8.0% in the 1st quarter. Toroso Investments LLC now owns 16,871 shares of the retailer’s stock valued at $3,580,000 after purchasing an additional 1,248 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in shares of Target by 2.1% during the first quarter. Chicago Partners Investment Group LLC now owns 4,425 shares of the retailer’s stock worth $715,000 after acquiring an additional 89 shares during the period. Penobscot Wealth Management grew its position in Target by 143.5% during the first quarter. Penobscot Wealth Management now owns 3,363 shares of the retailer’s stock worth $714,000 after buying an additional 1,982 shares during the period. Magnolia Wealth Management LLC acquired a new position in Target during the first quarter worth about $2,258,000. Finally, Strategic Wealth Partners Ltd. lifted its holdings in shares of Target by 67.7% in the first quarter. Strategic Wealth Partners Ltd. now owns 10,229 shares of the retailer’s stock valued at $2,171,000 after purchasing an additional 4,130 shares in the last quarter. 81.83% of the stock is currently owned by institutional investors and hedge funds.

About Target (Get Rating)

Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

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