Target (NYSE:TGT) Price Target Cut to $89.00 by Analysts at Citigroup

Target (NYSE:TGT) had its price objective trimmed by Citigroup from $100.00 to $89.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the retailer’s stock.

Several other research firms also recently weighed in on TGT. BTIG Research started coverage on Target in a research note on Tuesday, October 14th. They issued a “neutral” rating for the company. Roth Capital set a $88.00 target price on Target in a report on Thursday. Truist Financial lifted their price target on Target from $83.00 to $90.00 and gave the stock a “hold” rating in a research note on Thursday. TD Cowen lowered their price objective on shares of Target from $105.00 to $90.00 and set a “hold” rating on the stock in a research note on Thursday. Finally, Wolfe Research started coverage on shares of Target in a research report on Thursday, September 18th. They set an “underperform” rating and a $80.00 target price for the company. Ten equities research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $102.97.

Target Stock Performance

NYSE TGT opened at $83.66 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99. Target has a 12-month low of $83.44 and a 12-month high of $145.08. The stock has a market capitalization of $38.01 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 2.74 and a beta of 1.19. The business’s 50 day moving average is $90.18 and its two-hundred day moving average is $95.93.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 19th. The retailer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.07. Target had a return on equity of 23.43% and a net margin of 3.72%.The firm had revenue of $25.28 billion during the quarter, compared to analysts’ expectations of $25.44 billion. During the same quarter in the prior year, the business posted $1.85 earnings per share. Target’s revenue was down 1.6% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-8.000 EPS. Research analysts expect that Target will post 8.69 EPS for the current year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be given a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 5.5%. This is a positive change from Target’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Wednesday, November 12th. Target’s dividend payout ratio (DPR) is currently 53.15%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in Target by 101.3% during the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock worth $822,000 after purchasing an additional 3,059 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Target during the 1st quarter valued at $407,000. KLP Kapitalforvaltning AS increased its holdings in Target by 1.4% in the 1st quarter. KLP Kapitalforvaltning AS now owns 160,109 shares of the retailer’s stock valued at $16,709,000 after purchasing an additional 2,200 shares in the last quarter. Oak Thistle LLC purchased a new position in Target in the first quarter valued at about $1,303,000. Finally, Venturi Wealth Management LLC lifted its stake in shares of Target by 361.1% during the first quarter. Venturi Wealth Management LLC now owns 10,900 shares of the retailer’s stock worth $1,138,000 after purchasing an additional 8,536 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

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.