Target (NYSE:TGT) Cut to “Hold” at StockNews.com

Target (NYSE:TGT) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

A number of other equities analysts also recently issued reports on the stock. The Goldman Sachs Group cut their price objective on shares of Target from $166.00 to $142.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Stifel Nicolaus lowered their target price on Target from $145.00 to $130.00 and set a “hold” rating on the stock in a research note on Wednesday, March 5th. Citigroup lowered their target price on Target from $133.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. HSBC cut Target from a “buy” rating to a “hold” rating and set a $138.00 target price on the stock. in a research note on Wednesday, November 20th. Finally, Truist Financial lowered their target price on Target from $134.00 to $124.00 and set a “hold” rating on the stock in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $145.87.

Target Stock Performance

Shares of TGT stock opened at $104.37 on Wednesday. The company has a market cap of $47.82 billion, a price-to-earnings ratio of 11.07, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18. Target has a 52 week low of $104.01 and a 52 week high of $181.86. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The firm has a 50 day moving average of $129.97 and a 200-day moving average of $140.26.

Target (NYSE:TGT) last posted its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate 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. On average, equities analysts forecast that Target will post 8.69 earnings per share for the current year.

Institutional Trading of Target

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp lifted its position in 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 purchasing an additional 2,732,801 shares during the last quarter. Capital World Investors raised its holdings in shares of Target by 6.3% during the fourth quarter. Capital World Investors now owns 21,930,569 shares of the retailer’s stock valued at $2,964,565,000 after acquiring an additional 1,306,552 shares in the last quarter. FMR LLC raised its holdings in shares of Target by 13.6% during the fourth quarter. FMR LLC now owns 11,338,729 shares of the retailer’s stock valued at $1,532,769,000 after acquiring an additional 1,358,348 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Target by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 9,885,015 shares of the retailer’s stock valued at $1,332,317,000 after acquiring an additional 470,990 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Target during the fourth quarter valued at approximately $757,892,000. 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.