Deutsche Bank Aktiengesellschaft Cuts Target (NYSE:TGT) Price Target to $190.00

Target (NYSE:TGT) had its price objective cut by Deutsche Bank Aktiengesellschaft from $209.00 to $190.00 in a report released on Thursday morning, Benzinga reports. They currently have a buy rating on the retailer’s stock.

A number of other research analysts also recently weighed in on the stock. HSBC upgraded shares of Target from a hold rating to a buy rating and upped their price objective for the stock from $140.00 to $195.00 in a research report on Wednesday, March 6th. Jefferies Financial Group upped their price target on Target from $195.00 to $205.00 and gave the stock a buy rating in a report on Monday, April 1st. The Goldman Sachs Group raised their price objective on Target from $176.00 to $194.00 and gave the company a buy rating in a report on Wednesday, March 6th. Bank of America upped their target price on Target from $160.00 to $190.00 and gave the stock a buy rating in a research note on Wednesday, March 6th. Finally, BMO Capital Markets dropped their price target on shares of Target from $170.00 to $155.00 and set a market perform rating on the stock in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Target currently has a consensus rating of Moderate Buy and an average target price of $180.41.

Target Stock Up 0.6 %

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

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, May 22nd. The retailer reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). Target had a return on equity of 31.91% and a net margin of 3.87%. The firm had revenue of $24.14 billion for the quarter, compared to analyst estimates of $24.52 billion. During the same period in the previous year, the business earned $2.05 EPS. Target’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Target will post 9.39 earnings per share for the current year.

Target Dividend Announcement

The company 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 $1.10 dividend. 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 49.38%.

Insider Transactions at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the company’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 transaction, the insider now directly owns 346,919 shares in the company, valued at $58,115,870.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Target news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $167.52, for a total value of $7,538,400.00. Following the transaction, the insider now owns 346,919 shares of the company’s stock, valued at $58,115,870.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Melissa K. Kremer sold 3,000 shares of Target stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $165.05, for a total transaction of $495,150.00. Following 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 in the last 90 days. Insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Washington Trust Advisors Inc. raised its holdings in shares of Target by 56.1% in the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after buying an additional 64 shares during the period. Williams Jones Wealth Management LLC. lifted its position in shares of Target by 0.6% during the first quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock worth $1,909,000 after purchasing an additional 68 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Target by 1.3% in the fourth quarter. Larson Financial Group LLC now owns 5,339 shares of the retailer’s stock valued at $760,000 after purchasing an additional 70 shares during the period. Godshalk Welsh Capital Management Inc. grew its holdings in shares of Target by 0.9% in the fourth quarter. Godshalk Welsh Capital Management Inc. now owns 8,130 shares of the retailer’s stock valued at $1,158,000 after purchasing an additional 70 shares in the last quarter. Finally, Haverford Trust Co increased its stake in Target by 0.3% during the 1st quarter. Haverford Trust Co now owns 27,472 shares of the retailer’s stock worth $4,868,000 after buying an additional 70 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

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.