Truist Financial Trims Target (NYSE:TGT) Target Price to $153.00

Target (NYSE:TGT) had its target price cut by Truist Financial from $160.00 to $153.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a hold rating on the retailer’s stock.

Several other analysts have also issued reports on the stock. Wells Fargo & Company raised their price target on shares of Target from $165.00 to $190.00 and gave the stock an overweight rating in a research report on Wednesday, March 6th. Bank of America boosted their price target on Target from $160.00 to $190.00 and gave the company a buy rating in a research note on Wednesday, March 6th. Telsey Advisory Group reiterated an outperform rating and issued a $195.00 price objective on shares of Target in a research report on Wednesday. TheStreet raised Target from a c+ rating to a b- rating in a report on Monday, March 4th. Finally, Gordon Haskett upped their target price on Target from $200.00 to $220.00 and gave the company a buy rating in a research note on Thursday, April 4th. Ten equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $180.41.

Target Trading Up 0.6 %

Target stock opened at $145.23 on Thursday. The business’s 50-day simple moving average is $164.92 and its 200-day simple moving average is $149.85. Target has a 52 week low of $102.93 and a 52 week high of $181.86. The firm has a market capitalization of $67.19 billion, a PE ratio of 16.30, a PEG ratio of 1.34 and a beta of 1.16. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.29 and a current ratio of 0.86.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 22nd. The retailer reported $2.03 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.02). Target had a return on equity of 31.91% and a net margin of 3.87%. The business had revenue of $24.14 billion during the quarter, compared to the consensus estimate of $24.52 billion. During the same period in the prior year, the firm earned $2.05 earnings per share. The business’s quarterly revenue was down 3.2% on a year-over-year basis. Equities research analysts forecast that Target will post 9.39 earnings per share for the current year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $1.10 per share. The ex-dividend date is Tuesday, May 14th. This represents a $4.40 annualized dividend and a dividend yield of 3.03%. Target’s dividend payout ratio (DPR) is currently 49.38%.

Insider Buying and Selling

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

Institutional Trading of Target

Institutional investors have recently bought and sold shares of the business. Ables Iannone Moore & Associates Inc. bought a new position in shares of Target in the 4th quarter worth $28,000. Rakuten Securities Inc. bought a new position in Target during the fourth quarter worth about $29,000. Private Wealth Management Group LLC bought a new position in Target during the fourth quarter worth about $29,000. Scarborough Advisors LLC acquired a new position in shares of Target during the 4th quarter worth about $29,000. Finally, Godsey & Gibb Inc. increased its stake in shares of Target by 148.6% in the 1st quarter. Godsey & Gibb Inc. now owns 174 shares of the retailer’s stock valued at $31,000 after acquiring an additional 104 shares during the last quarter. Institutional investors and hedge funds 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.