Target (NYSE:TGT) Price Target Cut to $99.00 by Analysts at Royal Bank Of Canada

Target (NYSE:TGT) had its target price reduced by Royal Bank Of Canada from $107.00 to $99.00 in a research report released on Thursday morning, MarketBeat reports. Royal Bank Of Canada currently has an outperform rating on the retailer’s stock.

TGT has been the topic of several other research reports. Robert W. Baird dropped their price target on shares of Target from $100.00 to $92.00 and set a “neutral” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. cut their target price on Target from $117.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, November 10th. Truist Financial decreased their price target on Target from $102.00 to $83.00 and set a “hold” rating for the company in a research note on Thursday, October 2nd. Weiss Ratings restated a “hold (c-)” rating on shares of Target in a report on Wednesday, October 8th. Finally, BMO Capital Markets lowered their price target on Target from $95.00 to $90.00 and set a “market perform” rating on the stock in a report on Thursday. Ten analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $102.97.

Target Stock Up 3.5%

TGT stock traded up $2.93 during mid-day trading on Thursday, hitting $86.61. The stock had a trading volume of 3,269,024 shares, compared to its average volume of 7,348,883. The stock has a market capitalization of $39.36 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 2.74 and a beta of 1.19. 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 1-year low of $83.44 and a 1-year high of $145.08. The company has a fifty day moving average of $90.18 and a 200 day moving average of $95.93.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 19th. The retailer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.07. The firm had revenue of $25.28 billion for the quarter, compared to the consensus estimate of $25.44 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The firm’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.85 earnings per share. Target has set its FY 2025 guidance at 7.000-8.000 EPS. On average, equities analysts expect that Target 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. Shareholders of record on Wednesday, November 12th will be given a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 5.3%. The ex-dividend date is Wednesday, November 12th. This is a boost from Target’s previous quarterly dividend of $1.12. Target’s dividend payout ratio is 53.15%.

Institutional Trading of Target

Several institutional investors and hedge funds have recently added to or reduced their stakes in TGT. WFA of San Diego LLC bought a new stake in Target in the second quarter valued at about $25,000. Raleigh Capital Management Inc. increased its position in shares of Target by 63.4% in 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 in the last quarter. Kozak & Associates Inc. increased its holdings in shares of Target by 2,530.0% in the second quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock worth $27,000 after acquiring an additional 253 shares in the last quarter. Heartwood Wealth Advisors LLC acquired a new stake in shares of Target during the third quarter worth about $27,000. Finally, Investment Research & Advisory Group Inc. bought a new position in shares of Target during the 2nd quarter valued at about $29,000. 79.73% of the stock is owned by 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.