Target Co. (NYSE:TGT)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $78.56, but opened at $75.70. Target shares last traded at $72.86, with a volume of 7085630 shares traded.
TGT has been the subject of a number of analyst reports. Vetr downgraded shares of Target from a “strong-buy” rating to a “buy” rating and set a $64.00 target price for the company. in a research note on Monday, November 20th. ValuEngine upgraded shares of Target from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Sanford C. Bernstein set a $65.00 price objective on shares of Target and gave the company a “buy” rating in a research note on Thursday, December 14th. MKM Partners set a $77.00 price objective on shares of Target and gave the company a “buy” rating in a research note on Thursday, December 14th. Finally, Barclays upgraded shares of Target from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $45.00 to $70.00 in a research note on Friday, January 5th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $69.56.
The company has a market cap of $39,660.00, a P/E ratio of 15.64, a price-to-earnings-growth ratio of 3.44 and a beta of 0.75. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.96 and a quick ratio of 0.27.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 10th. Stockholders of record on Wednesday, February 21st will be paid a dividend of $0.62 per share. The ex-dividend date is Tuesday, February 20th. This represents a $2.48 annualized dividend and a dividend yield of 3.31%. Target’s dividend payout ratio (DPR) is 52.10%.
In other news, insider Stephanie A. Lundquist sold 3,000 shares of the stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $78.08, for a total transaction of $234,240.00. Following the completion of the sale, the insider now owns 16,906 shares in the company, valued at $1,320,020.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Roxanne S. Austin sold 4,705 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $62.61, for a total transaction of $294,580.05. The disclosure for this sale can be found here. Insiders have sold 16,262 shares of company stock valued at $1,185,484 in the last quarter. Insiders own 0.25% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bedell Frazier Investment Counseling LLC purchased a new position in Target during the third quarter worth about $219,000. Westside Investment Management Inc. raised its holdings in Target by 128.6% during the fourth quarter. Westside Investment Management Inc. now owns 1,600 shares of the retailer’s stock worth $107,000 after purchasing an additional 900 shares in the last quarter. Security Asset Management purchased a new position in Target during the fourth quarter worth about $115,000. Heritage Trust Co raised its holdings in Target by 129.7% during the third quarter. Heritage Trust Co now owns 1,771 shares of the retailer’s stock worth $105,000 after purchasing an additional 1,000 shares in the last quarter. Finally, First Mercantile Trust Co. purchased a new position in Target during the fourth quarter worth about $124,000. 88.32% of the stock is owned by hedge funds and other institutional investors.
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Target Company Profile
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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