Target (TGT) Shares Gap Down to $68.29

Target Co. (NYSE:TGT) shares gapped down prior to trading on Friday . The stock had previously closed at $68.63, but opened at $68.29. Target shares last traded at $69.52, with a volume of 2698908 shares trading hands.

Several analysts have recently issued reports on the stock. Morgan Stanley lowered their price target on shares of Target from $70.00 to $60.00 and set an “underweight” rating on the stock in a research report on Friday, November 23rd. BMO Capital Markets started coverage on shares of Target in a report on Monday, September 17th. They set a “market perform” rating and a $88.00 target price on the stock. Citigroup decreased their target price on shares of Target from $92.00 to $84.00 and set a “neutral” rating on the stock in a report on Wednesday, November 21st. Telsey Advisory Group reaffirmed an “outperform” rating and set a $86.00 target price (down previously from $100.00) on shares of Target in a report on Monday. Finally, Zacks Investment Research lowered shares of Target from a “buy” rating to a “hold” rating in a report on Monday, November 26th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Target currently has an average rating of “Hold” and a consensus price target of $86.92.

The stock has a market cap of $36.68 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 2.18 and a beta of 0.72. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.13 and a current ratio of 0.83.

Target (NYSE:TGT) last announced its quarterly earnings results on Tuesday, November 20th. The retailer reported $1.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.02). The firm had revenue of $17.59 billion for the quarter, compared to analysts’ expectations of $17.81 billion. Target had a net margin of 4.31% and a return on equity of 25.02%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.91 EPS. Analysts anticipate that Target Co. will post 5.39 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 10th. Shareholders of record on Wednesday, February 20th will be given a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 3.68%. Target’s payout ratio is currently 54.35%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Harvest Fund Management Co. Ltd bought a new position in Target in the 3rd quarter worth $104,000. Csenge Advisory Group bought a new position in Target in the 3rd quarter worth $109,000. ELM Advisors LLC bought a new position in Target in the 3rd quarter worth $141,000. Mount Yale Investment Advisors LLC raised its holdings in Target by 73.0% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 2,109 shares of the retailer’s stock worth $161,000 after purchasing an additional 890 shares in the last quarter. Finally, Belpointe Asset Management LLC bought a new position in shares of Target in the 3rd quarter worth about $176,000. 82.89% of the stock is owned by institutional investors and hedge funds.

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Target Company Profile (NYSE:TGT)

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.

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