Target (NYSE:TGT) Shares Gap Down to $219.25

Target Co. (NYSE:TGTGet Rating)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $219.25, but opened at $213.50. Target shares last traded at $214.42, with a volume of 85,640 shares traded.

TGT has been the subject of several recent analyst reports. Morgan Stanley decreased their price target on Target from $260.00 to $255.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 18th. JPMorgan Chase & Co. raised their target price on Target from $262.00 to $290.00 and gave the company an “overweight” rating in a research note on Wednesday, March 2nd. Truist Financial decreased their target price on Target from $270.00 to $261.00 and set a “buy” rating for the company in a research note on Wednesday, March 2nd. Royal Bank of Canada raised their target price on Target from $278.00 to $294.00 and gave the company an “outperform” rating in a research note on Wednesday, March 2nd. Finally, BMO Capital Markets increased their price target on Target from $275.00 to $295.00 and gave the company an “outperform” rating in a research report on Wednesday, March 2nd. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Target currently has a consensus rating of “Buy” and a consensus target price of $277.23.

The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.35 and a current ratio of 0.99. The firm has a market cap of $98.09 billion, a P/E ratio of 15.58, a P/E/G ratio of 0.91 and a beta of 0.94. The company has a 50-day moving average of $225.57 and a 200 day moving average of $227.97.

Target (NYSE:TGTGet Rating) last posted its earnings results on Tuesday, March 1st. The retailer reported $3.19 EPS for the quarter, topping the consensus estimate of $2.86 by $0.33. Target had a return on equity of 47.35% and a net margin of 6.55%. The business had revenue of $31 billion during the quarter, compared to the consensus estimate of $31.40 billion. During the same quarter last year, the company earned $2.67 EPS. Target’s revenue was up 10.7% on a year-over-year basis. Sell-side analysts anticipate that Target Co. will post 14.6 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Wednesday, May 18th will be given a $0.90 dividend. The ex-dividend date is Tuesday, May 17th. This represents a $3.60 annualized dividend and a yield of 1.70%. Target’s payout ratio is 25.59%.

In other news, CAO Robert M. Harrison sold 2,080 shares of the business’s stock in a transaction on Wednesday, March 16th. The stock was sold at an average price of $217.87, for a total transaction of $453,169.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian C. Cornell sold 30,000 shares of the business’s stock in a transaction on Wednesday, March 16th. The stock was sold at an average price of $216.35, for a total value of $6,490,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 99,363 shares of company stock valued at $21,970,253. Corporate insiders own 0.29% of the company’s stock.

Several institutional investors have recently made changes to their positions in TGT. Norges Bank acquired a new stake in shares of Target during the fourth quarter worth $1,094,330,000. Capital World Investors grew its stake in shares of Target by 22.9% during the fourth quarter. Capital World Investors now owns 8,941,995 shares of the retailer’s stock worth $2,069,535,000 after purchasing an additional 1,666,948 shares during the period. Nordea Investment Management AB grew its stake in shares of Target by 73.9% during the first quarter. Nordea Investment Management AB now owns 1,902,355 shares of the retailer’s stock worth $414,599,000 after purchasing an additional 808,485 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Target during the fourth quarter worth $162,042,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of Target by 1,140.3% during the first quarter. Assenagon Asset Management S.A. now owns 701,790 shares of the retailer’s stock worth $148,934,000 after purchasing an additional 645,209 shares during the period. 81.83% of the stock is owned by institutional investors and hedge funds.

Target Company Profile (NYSE:TGT)

Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

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