Target (NYSE:TGT) Rating Lowered to Neutral at Citigroup

Citigroup downgraded shares of Target (NYSE:TGT) from a buy rating to a neutral rating in a report issued on Wednesday morning, Marketbeat reports. The brokerage currently has $130.00 target price on the retailer’s stock, down from their prior target price of $188.00.

Other equities research analysts also recently issued research reports about the stock. Stifel Nicolaus boosted their price target on shares of Target from $147.00 to $165.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Wells Fargo & Company lifted their target price on shares of Target from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Jefferies Financial Group increased their price target on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Evercore ISI decreased their price objective on Target from $170.00 to $165.00 and set an “in-line” rating on the stock in a report on Tuesday, October 22nd. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $180.00 price objective on shares of Target in a research note on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $162.13.

Target Stock Up 2.8 %

Shares of TGT opened at $125.01 on Wednesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.27 and a current ratio of 0.94. The company has a 50-day simple moving average of $151.27 and a 200-day simple moving average of $149.61. Target has a 52 week low of $120.21 and a 52 week high of $181.86. The firm has a market capitalization of $57.59 billion, a P/E ratio of 13.26, a P/E/G ratio of 1.57 and a beta of 1.24.

Target (NYSE:TGT) last posted 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). Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $25.23 billion during the quarter, compared to analyst estimates of $25.87 billion. During the same period last year, the company earned $2.10 EPS. The company’s revenue was up .9% on a year-over-year basis. On average, equities research analysts expect that Target will post 9.58 earnings per share for the current year.

Target Announces Dividend

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

Insiders Place Their Bets

In related news, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the completion of the sale, the insider now owns 123,551 shares in the company, valued at approximately $19,418,510.67. This represents a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 52,348 shares of company stock valued at $8,290,995. 0.15% of the stock is currently owned by insiders.

Institutional Trading of Target

A number of hedge funds have recently modified their holdings of TGT. Triad Wealth Partners LLC bought a new stake in Target in the second quarter valued at approximately $25,000. Legacy Investment Solutions LLC acquired a new stake in Target during the 3rd quarter worth $28,000. Slocum Gordon & Co LLP bought a new position in Target during the second quarter worth about $28,000. Hobbs Group Advisors LLC acquired a new position in Target in the second quarter valued at about $31,000. Finally, Wolff Wiese Magana LLC increased its holdings in shares of Target by 156.5% in the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after acquiring an additional 133 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

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.