Target (NYSE:TGT) Price Target Cut to $140.00 by Analysts at DA Davidson

Target (NYSE:TGT) had its price target cut by DA Davidson from $153.00 to $140.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the retailer’s stock.

Other analysts also recently issued reports about the stock. Hsbc Global Res downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Wells Fargo & Company decreased their price target on shares of Target from $180.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Daiwa America lowered Target from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. lowered their price target on Target from $146.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Oppenheimer reiterated an “outperform” rating and set a $165.00 price objective on shares of Target in a report on Monday, November 25th. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $148.23.

Target Stock Performance

TGT stock opened at $116.70 on Wednesday. The stock has a market capitalization of $53.47 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The company has a 50 day moving average price of $132.91 and a 200 day moving average price of $141.92. Target has a fifty-two week low of $112.53 and a fifty-two week high of $181.86.

Target (NYSE:TGT) last posted its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. Target had a net margin of 4.06% and a return on equity of 31.11%. The business had revenue of $30.92 billion during the quarter, compared to the consensus estimate of $30.83 billion. Analysts forecast that Target will post 8.69 EPS for the current year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th were issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend was Wednesday, February 12th. Target’s dividend payout ratio is presently 50.56%.

Hedge Funds Weigh In On Target

A number of large investors have recently made changes to their positions in TGT. Legacy Investment Solutions LLC acquired a new position in Target in the 3rd quarter valued at $28,000. Bernard Wealth Management Corp. bought a new stake in shares of Target in the fourth quarter valued at about $30,000. Hopwood Financial Services Inc. acquired a new position in shares of Target in the fourth quarter valued at about $29,000. FSA Wealth Management LLC bought a new position in Target during the third quarter worth about $36,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in Target in the 3rd quarter worth about $38,000. Institutional investors 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.