Piper Sandler Issues Pessimistic Forecast for Target (NYSE:TGT) Stock Price

Target (NYSE:TGT) had its price target decreased by Piper Sandler from $156.00 to $130.00 in a report published on Thursday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the retailer’s stock.

Several other research firms have also weighed in on TGT. HSBC lowered Target from a “buy” rating to a “hold” rating and set a $138.00 price target on the stock. in a research report on Wednesday. Morgan Stanley reiterated an “overweight” rating and issued a $180.00 price target on shares of Target in a research note on Wednesday, August 21st. JPMorgan Chase & Co. boosted their price objective on shares of Target from $153.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Royal Bank of Canada raised their target price on shares of Target from $174.00 to $177.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Finally, Oppenheimer lowered their price target on Target from $200.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Target currently has an average rating of “Moderate Buy” and an average target price of $162.13.

Target Stock Performance

Shares of TGT stock opened at $125.01 on Thursday. The firm has a market cap of $57.59 billion, a PE ratio of 13.26, a P/E/G ratio of 1.57 and a beta of 1.24. Target has a 12 month low of $120.21 and a 12 month high of $181.86. The company’s fifty day simple moving average is $151.27 and its 200-day simple moving average is $149.61. The company has a quick ratio of 0.27, 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 analysts’ consensus estimates of $2.30 by ($0.45). The business had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.10 earnings per share. Equities research analysts expect that Target will post 9.58 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. Shareholders of record on Wednesday, November 20th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.58%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio is currently 47.51%.

Insider Transactions at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 303,843 shares in the company, valued at $48,210,768.81. The trade was a 12.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $997,715.16. Following the completion of the sale, the insider now directly owns 123,551 shares in the company, valued at approximately $19,418,510.67. This represents a 4.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,348 shares of company stock valued at $8,290,995. Company insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Target

A number of hedge funds have recently made changes to their positions in TGT. Cynosure Group LLC increased its position in Target by 4.3% during the 3rd quarter. Cynosure Group LLC now owns 1,590 shares of the retailer’s stock worth $248,000 after purchasing an additional 65 shares in the last quarter. Financial Advocates Investment Management increased its holdings in shares of Target by 1.2% during the third quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock worth $894,000 after buying an additional 67 shares in the last quarter. Hancock Whitney Corp lifted its stake in shares of Target by 3.3% in the 3rd quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock valued at $336,000 after acquiring an additional 68 shares during the last quarter. Beacon Capital Management LLC boosted its holdings in shares of Target by 20.8% during the 2nd quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock valued at $59,000 after acquiring an additional 69 shares in the last quarter. Finally, Integral Investment Advisors Inc. boosted its holdings in shares of Target by 5.3% during the 2nd quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock valued at $203,000 after acquiring an additional 69 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

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.