Target (NYSE:TGT) Cut to Hold at HSBC

HSBC cut shares of Target (NYSE:TGT) from a buy rating to a hold rating in a report issued on Wednesday, MarketBeat Ratings reports. They currently have $138.00 price target on the retailer’s stock.

A number of other analysts also recently weighed in on the stock. Sanford C. Bernstein started coverage on shares of Target in a report on Tuesday, October 22nd. They set a “market perform” rating and a $168.00 price target for the company. UBS Group raised their target price on Target from $185.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Evercore ISI decreased their price target on Target from $170.00 to $165.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 22nd. Citigroup downgraded Target from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $188.00 to $130.00 in a research report on Wednesday. Finally, Truist Financial lifted their target price on Target from $156.00 to $162.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Target currently has an average rating of “Moderate Buy” and an average price target of $162.13.

Target Price Performance

Target stock opened at $125.01 on Wednesday. The firm has a market cap of $57.59 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 2.03 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. The stock’s fifty day moving average price is $151.27 and its two-hundred day moving average price is $149.69. Target has a one year low of $120.21 and a one year high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a return on equity of 33.10% and a net margin of 4.18%. The company had revenue of $25.23 billion during the quarter, compared to the consensus estimate of $25.87 billion. During the same quarter in the previous year, the business posted $2.10 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. As a group, research analysts expect that Target will post 9.55 EPS for the current fiscal year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a $1.12 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 annualized dividend and a yield of 3.58%. Target’s payout ratio is 46.28%.

Insiders Place Their Bets

In other news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 123,551 shares of the company’s stock, valued at $19,418,510.67. This trade represents a 4.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the transaction, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. The trade was a 12.90 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,348 shares of company stock worth $8,290,995. Company insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Target

Several institutional investors have recently made changes to their positions in the stock. Covestor Ltd raised its position in shares of Target by 43.7% during the first quarter. Covestor Ltd now owns 352 shares of the retailer’s stock worth $62,000 after purchasing an additional 107 shares during the period. Crewe Advisors LLC bought a new position in shares of Target in the first quarter valued at $103,000. CreativeOne Wealth LLC grew its holdings in shares of Target by 34.7% during the first quarter. CreativeOne Wealth LLC now owns 7,238 shares of the retailer’s stock valued at $1,282,000 after buying an additional 1,866 shares during the last quarter. EP Wealth Advisors LLC increased its position in shares of Target by 9.0% during the first quarter. EP Wealth Advisors LLC now owns 9,108 shares of the retailer’s stock worth $1,614,000 after acquiring an additional 750 shares in the last quarter. Finally, Axxcess Wealth Management LLC raised its holdings in shares of Target by 26.3% in the 1st quarter. Axxcess Wealth Management LLC now owns 19,098 shares of the retailer’s stock worth $3,384,000 after acquiring an additional 3,981 shares during the last quarter. Institutional investors and hedge funds 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.