Target (NYSE:TGT) Lowered to Hold Rating by Daiwa America

Daiwa America cut shares of Target (NYSE:TGT) from a strong-buy rating to a hold rating in a report released on Tuesday,Zacks.com reports.

TGT has been the topic of several other research reports. Melius Research initiated coverage on Target in a research report on Monday, September 23rd. They set a “buy” rating and a $180.00 price target on the stock. Evercore ISI decreased their price target on Target from $165.00 to $130.00 and set an “in-line” rating on the stock in a research note on Thursday, November 21st. StockNews.com lowered shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 21st. Guggenheim reduced their target price on shares of Target from $180.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Finally, Jefferies Financial Group increased their price target on Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $160.30.

Target Stock Up 1.8 %

Shares of NYSE TGT opened at $132.39 on Tuesday. Target has a 52-week low of $120.21 and a 52-week high of $181.86. The business’s 50 day moving average is $148.86 and its two-hundred day moving average is $148.59. The firm has a market cap of $60.99 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 2.13 and a beta of 1.24. 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 (NYSE:TGT) last posted its quarterly earnings data 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 business had revenue of $25.23 billion during the quarter, compared to analysts’ expectations of $25.87 billion. During the same period in the previous year, the business posted $2.10 EPS. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Research analysts predict that Target will post 8.6 EPS for the current year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be paid a dividend of $1.12 per share. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.38%. Target’s dividend payout ratio (DPR) is presently 47.51%.

Insiders Place Their Bets

In related news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the sale, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. This trade represents a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.15% of the company’s stock.

Institutional Trading of Target

Several institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp lifted its position in shares of Target by 8.3% in the third quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock valued at $5,530,576,000 after buying an additional 2,732,801 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Target by 9,940.6% in the 3rd quarter. International Assets Investment Management LLC now owns 2,001,391 shares of the retailer’s stock valued at $311,937,000 after buying an additional 1,981,458 shares in the last quarter. Boston Partners bought a new position in Target during the first quarter worth about $335,870,000. Two Sigma Advisers LP boosted its holdings in Target by 173.2% in the 3rd quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock valued at $369,295,000 after purchasing an additional 1,502,200 shares during the period. Finally, FMR LLC raised its holdings in Target by 11.7% in the 3rd quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock valued at $1,555,542,000 after acquiring an additional 1,046,044 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

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.