Target (NYSE:TGT) PT Lowered to $180.00 at Evercore ISI

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

TGT has been the topic of several other reports. Bank of America boosted their price target on shares of Target from $160.00 to $190.00 and gave the stock a buy rating in a research report on Wednesday, March 6th. Morgan Stanley boosted 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. Citigroup boosted their price target on shares of Target from $142.00 to $180.00 and gave the stock a neutral rating in a research report on Wednesday, March 6th. Stifel Nicolaus boosted their price target on shares of Target from $153.00 to $177.00 and gave the stock a hold rating in a research report on Wednesday, March 6th. Finally, The Goldman Sachs Group boosted their price target on shares of Target from $176.00 to $194.00 and gave the stock a buy rating in a research report on Wednesday, March 6th. Eleven research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, Target has a consensus rating of Moderate Buy and a consensus target price of $181.85.

Target Price Performance

Shares of NYSE TGT opened at $166.58 on Tuesday. Target has a fifty-two week low of $102.93 and a fifty-two week high of $181.86. The firm’s 50-day simple moving average is $163.25 and its 200 day simple moving average is $140.52. The company has a quick ratio of 0.29, a current ratio of 0.91 and a debt-to-equity ratio of 1.11. The stock has a market cap of $76.91 billion, a P/E ratio of 18.65, a P/E/G ratio of 1.53 and a beta of 1.14.

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

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be paid a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $4.40 annualized dividend and a dividend yield of 2.64%. Target’s payout ratio is 49.27%.

Insider Activity at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $167.52, for a total value of $7,538,400.00. Following the completion of the sale, the insider now owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Melissa K. Kremer sold 3,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 30,527 shares in the company, valued at approximately $5,038,481.35. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $167.52, for a total value of $7,538,400.00. Following the completion of the sale, the insider now owns 346,919 shares of the company’s stock, valued at $58,115,870.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,600 shares of company stock valued at $8,819,598. 0.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Target

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Silverlake Wealth Management LLC acquired a new stake in Target in the 1st quarter worth approximately $218,000. SeaCrest Wealth Management LLC lifted its holdings in shares of Target by 5.1% during the first quarter. SeaCrest Wealth Management LLC now owns 5,374 shares of the retailer’s stock worth $952,000 after buying an additional 261 shares during the last quarter. Oxinas Partners Wealth Management LLC acquired a new position in shares of Target during the first quarter worth approximately $225,000. InTrack Investment Management Inc acquired a new position in shares of Target during the first quarter worth approximately $249,000. Finally, Woodmont Investment Counsel LLC lifted its holdings in shares of Target by 637.4% during the first quarter. Woodmont Investment Counsel LLC now owns 12,705 shares of the retailer’s stock worth $2,251,000 after buying an additional 10,982 shares during the last quarter. 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.