Target (NYSE:TGT) Price Target Cut to $90.00 by Analysts at The Goldman Sachs Group

Target (NYSE:TGT) had its price target cut by The Goldman Sachs Group from $101.00 to $90.00 in a research report report published on Thursday,Benzinga reports. They currently have a neutral rating on the retailer’s stock.

Several other brokerages also recently issued reports on TGT. Robert W. Baird downgraded Target from an “outperform” rating to a “neutral” rating and set a $110.00 price objective on the stock. in a research report on Monday, April 7th. KGI Securities set a $132.00 price objective on Target in a research report on Wednesday, March 5th. JPMorgan Chase & Co. upped their price objective on Target from $105.00 to $109.00 and gave the company a “neutral” rating in a research report on Thursday. UBS Group reduced their price objective on Target from $170.00 to $155.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Finally, Sanford C. Bernstein lowered Target from a “market perform” rating to an “underperform” rating and dropped their target price for the company from $97.00 to $82.00 in a research note on Monday, May 12th. Two research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $117.97.

Target Stock Down 0.8%

TGT opened at $94.30 on Thursday. The business’s fifty day moving average is $97.28 and its two-hundred day moving average is $119.97. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The company has a market cap of $42.85 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 1.94 and a beta of 1.27. Target has a one year low of $87.35 and a one year high of $167.40.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.35). Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $24.20 billion during the quarter, compared to analysts’ expectations of $24.54 billion. During the same quarter in the prior year, the company earned $2.03 earnings per share. The firm’s revenue was down 2.8% compared to the same quarter last year. Analysts anticipate that Target will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.75%. Target’s dividend payout ratio (DPR) is currently 49.23%.

Institutional Investors Weigh In On Target

A number of large investors have recently modified their holdings of TGT. Charles Schwab Investment Management Inc. grew its stake in shares of Target by 407.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock valued at $1,666,672,000 after buying an additional 12,825,586 shares in the last quarter. Norges Bank acquired a new stake in shares of Target in the fourth quarter valued at about $757,892,000. Pacer Advisors Inc. grew its stake in shares of Target by 1,364.3% in the first quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer’s stock valued at $343,312,000 after buying an additional 3,065,035 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Target in the fourth quarter valued at about $297,122,000. Finally, Nuveen LLC acquired a new stake in shares of Target in the first quarter valued at about $186,361,000. 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.