Target (NYSE:TGT) Reaches New 1-Year Low – Here’s Why

Shares of Target Corporation (NYSE:TGT) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $85.24 and last traded at $88.8320, with a volume of 2465990 shares traded. The stock had previously closed at $88.53.

Analysts Set New Price Targets

TGT has been the topic of several recent analyst reports. Truist Financial lowered their price target on Target from $102.00 to $83.00 and set a “hold” rating on the stock in a report on Thursday, October 2nd. DA Davidson lowered their target price on shares of Target from $115.00 to $108.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Cowen reiterated a “hold” rating on shares of Target in a research report on Monday, November 10th. Citigroup boosted their price target on shares of Target from $94.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, August 22nd. Finally, Wall Street Zen upgraded shares of Target from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. Nine research analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $108.55.

Target Price Performance

The stock has a market capitalization of $40.17 billion, a PE ratio of 10.33, a P/E/G ratio of 2.74 and a beta of 1.19. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32. The firm’s 50 day simple moving average is $90.43 and its 200 day simple moving average is $96.09.

Target (NYSE:TGT) last released its earnings results on Wednesday, November 19th. The retailer reported $1.78 EPS for the quarter, beating the consensus estimate of $1.71 by $0.07. The company had revenue of $25.28 billion for the quarter, compared to analyst estimates of $25.44 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.85 EPS. Target has set its FY 2025 guidance at 7.000-8.000 EPS. As a group, equities analysts forecast that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be issued a $1.14 dividend. This is an increase from Target’s previous quarterly dividend of $1.12. This represents a $4.56 annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Wednesday, November 12th. Target’s dividend payout ratio (DPR) is presently 53.15%.

Institutional Investors Weigh In On Target

Institutional investors have recently bought and sold shares of the stock. WFA of San Diego LLC purchased a new stake in shares of Target during the second quarter valued at approximately $25,000. Raleigh Capital Management Inc. raised its holdings in Target by 63.4% during the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock valued at $26,000 after buying an additional 102 shares during the last quarter. Kozak & Associates Inc. boosted its position in Target by 2,530.0% during the 2nd quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock valued at $27,000 after buying an additional 253 shares during the period. Heartwood Wealth Advisors LLC purchased a new stake in Target during the 3rd quarter valued at $27,000. Finally, Investment Research & Advisory Group Inc. bought a new stake in Target in the 2nd quarter worth $29,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

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.