Evercore ISI Lowers Target (NYSE:TGT) Price Target to $180.00

Target (NYSE:TGT) had its price objective cut by Evercore ISI from $183.00 to $180.00 in a report issued on Tuesday morning, Benzinga reports. They currently have an in-line rating on the retailer’s stock.

Other equities analysts also recently issued research reports about the stock. Roth Mkm upped their price objective on shares of Target from $140.00 to $153.00 and gave the company a neutral rating in a research note on Wednesday, March 6th. Bank of America upped their price objective on shares of Target from $160.00 to $190.00 and gave the company a buy rating in a research note on Wednesday, March 6th. JPMorgan Chase & Co. upped their price objective on shares of Target from $125.00 to $157.00 and gave the company a neutral rating in a research note on Friday, March 1st. Barclays increased their price target on shares of Target from $142.00 to $169.00 and gave the stock an equal weight rating in a research note on Wednesday, March 6th. Finally, Oppenheimer increased their price target on shares of Target from $160.00 to $170.00 and gave the stock an outperform rating in a research note on Monday, February 26th. Eleven research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, Target presently has a consensus rating of Moderate Buy and a consensus target price of $181.85.

Target Trading Up 1.3 %

Shares of TGT opened at $166.58 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.29 and a debt-to-equity ratio of 1.11. The firm’s 50-day moving average is $163.25 and its two-hundred day moving average is $140.52. Target has a twelve month low of $102.93 and a twelve month high of $181.86. The firm has a market capitalization of $76.91 billion, a P/E ratio of 18.65, a PEG ratio of 1.53 and a beta of 1.14.

Target (NYSE:TGT) last released its quarterly earnings results on Tuesday, March 5th. The retailer reported $2.98 EPS for the quarter, beating the consensus estimate of $2.41 by $0.57. The business had revenue of $31.47 billion for the quarter, compared to analyst estimates of $31.83 billion. Target had a net margin of 3.85% and a return on equity of 33.41%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.89 earnings per share. On average, research analysts predict that Target will post 9.39 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s dividend payout ratio (DPR) is presently 49.27%.

Insider Buying and Selling at Target

In other news, insider Christina Hennington sold 4,600 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $170.88, for a total value of $786,048.00. Following the completion of the sale, the insider now directly owns 38,487 shares in the company, valued at $6,576,658.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Christina Hennington sold 4,600 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $170.88, for a total value of $786,048.00. Following the completion of the sale, the insider now directly owns 38,487 shares in the company, valued at $6,576,658.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Melissa K. Kremer sold 3,000 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $165.05, for a total transaction of $495,150.00. Following the completion of the sale, the insider now owns 30,527 shares of the company’s stock, valued at $5,038,481.35. The disclosure for this sale can be found here. Insiders sold 52,600 shares of company stock worth $8,819,598 over the last ninety days. 0.23% of the stock is currently owned by insiders.

Institutional Trading of Target

A number of institutional investors and hedge funds have recently modified their holdings of the company. Tower View Wealth Management LLC increased its position in Target by 82.8% during the third quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock worth $26,000 after acquiring an additional 106 shares during the period. Quarry LP increased its position in Target by 100.0% during the fourth quarter. Quarry LP now owns 192 shares of the retailer’s stock worth $27,000 after acquiring an additional 96 shares during the period. Ables Iannone Moore & Associates Inc. bought a new position in Target during the fourth quarter worth $28,000. Rakuten Securities Inc. bought a new position in Target during the fourth quarter worth $29,000. Finally, Private Wealth Management Group LLC bought a new position in Target during the fourth quarter worth $29,000. 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.