Guggenheim Cuts Target (NYSE:TGT) Price Target to $115.00

Target (NYSE:TGT) had its target price trimmed by Guggenheim from $155.00 to $115.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the retailer’s stock.

Several other equities analysts also recently commented on TGT. Bank of America downgraded Target from a “buy” rating to a “neutral” rating and dropped their target price for the company from $145.00 to $105.00 in a research report on Thursday, May 22nd. Piper Sandler set a $94.00 price objective on shares of Target and gave the stock a “neutral” rating in a research report on Thursday, May 22nd. Jefferies Financial Group dropped their target price on shares of Target from $165.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Wall Street Zen cut shares of Target from a “buy” rating to a “hold” rating in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company dropped their price objective on shares of Target from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $116.68.

Target Price Performance

Shares of TGT stock opened at $94.81 on Tuesday. The business has a fifty day simple moving average of $96.49 and a 200 day simple moving average of $118.65. The company has a market cap of $43.08 billion, a P/E ratio of 10.05, a P/E/G ratio of 1.94 and a beta of 1.27. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. Target has a twelve month low of $87.35 and a twelve month high of $167.40.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). The company had revenue of $24.20 billion during the quarter, compared to analyst estimates of $24.54 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.03 earnings per share. On average, sell-side analysts forecast that Target will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The business also recently declared 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 4.73%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s payout ratio is presently 49.23%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TGT. Nicholas Company Inc. increased its stake in shares of Target by 20.5% in the fourth quarter. Nicholas Company Inc. now owns 55,810 shares of the retailer’s stock worth $7,544,000 after purchasing an additional 9,485 shares in the last quarter. River Road Asset Management LLC increased its stake in Target by 144.9% in the 4th quarter. River Road Asset Management LLC now owns 234,492 shares of the retailer’s stock worth $31,699,000 after buying an additional 138,751 shares in the last quarter. Mountain Hill Investment Partners Corp. purchased a new stake in Target in the 4th quarter worth $6,459,000. Sierra Summit Advisors LLC raised its holdings in Target by 29.0% during the fourth quarter. Sierra Summit Advisors LLC now owns 14,354 shares of the retailer’s stock valued at $1,940,000 after acquiring an additional 3,231 shares during the period. Finally, Wilmington Savings Fund Society FSB lifted its position in shares of Target by 25.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer’s stock valued at $2,430,000 after acquiring an additional 3,590 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

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.