Target (NYSE:TGT) Trading Down 0.1%

Shares of Target Co. (NYSE:TGT) dropped 0.1% on Friday . The company traded as low as $153.03 and last traded at $153.20. Approximately 416,848 shares changed hands during trading, a decline of 90% from the average daily volume of 4,021,382 shares. The stock had previously closed at $153.42.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TGT. Piper Sandler assumed coverage on shares of Target in a report on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 target price for the company. Robert W. Baird reissued an “outperform” rating and issued a $190.00 price objective on shares of Target in a research note on Thursday, May 23rd. Citigroup lifted their target price on shares of Target from $180.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. BMO Capital Markets decreased their price target on Target from $170.00 to $155.00 and set a “market perform” rating on the stock in a report on Thursday, May 23rd. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Target from $209.00 to $190.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $179.68.

Target Price Performance

The firm has a market cap of $71.07 billion, a P/E ratio of 17.24, a PEG ratio of 1.38 and a beta of 1.19. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.27. The stock’s 50-day simple moving average is $147.18 and its two-hundred day simple moving average is $154.89.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, beating the consensus estimate of $2.18 by $0.39. The company had revenue of $25.02 billion for the quarter, compared to the consensus estimate of $25.19 billion. Target had a net margin of 3.87% and a return on equity of 31.91%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.80 EPS. Equities research analysts forecast that Target Co. will post 9.31 earnings per share for the current fiscal year.

Target Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 2.92%. The ex-dividend date is Wednesday, August 21st. This is an increase from Target’s previous quarterly dividend of $1.10. Target’s dividend payout ratio is 50.28%.

Insider Transactions at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the transaction, the insider now directly owns 303,843 shares in the company, valued at $48,210,768.81. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.23% of the company’s stock.

Institutional Trading of Target

A number of large investors have recently modified their holdings of the company. Creekside Partners purchased a new position in Target during the 2nd quarter worth $343,000. Brown Financial Advisors purchased a new position in shares of Target during the second quarter valued at $1,486,000. Farmers National Bank raised its holdings in shares of Target by 4.0% in the second quarter. Farmers National Bank now owns 21,865 shares of the retailer’s stock valued at $3,237,000 after acquiring an additional 845 shares in the last quarter. Kestra Investment Management LLC bought a new stake in shares of Target in the second quarter valued at about $776,000. Finally, McGinn Penninger Investment Management Inc. lifted its stake in Target by 0.4% in the second quarter. McGinn Penninger Investment Management Inc. now owns 27,937 shares of the retailer’s stock worth $4,136,000 after acquiring an additional 120 shares during the period. Hedge funds and other 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.