Mizuho Cuts Target (NYSE:TGT) Price Target to $88.00

Target (NYSE:TGT) had its price objective reduced by Mizuho from $92.00 to $88.00 in a report released on Thursday,Benzinga reports. They currently have a neutral rating on the retailer’s stock.

Several other research firms have also recently weighed in on TGT. Roth Capital set a $122.00 price target on Target in a research note on Wednesday, March 5th. Citigroup restated a “neutral” rating and issued a $97.00 price target (up previously from $95.00) on shares of Target in a research note on Wednesday, May 14th. The Goldman Sachs Group decreased their price target on Target from $101.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday. Morgan Stanley decreased their price target on Target from $160.00 to $112.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Stifel Nicolaus decreased their price target on Target from $130.00 to $120.00 and set a “hold” rating for the company in a research note on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Target currently has a consensus rating of “Hold” and a consensus target price of $117.97.

Target Stock Up 2.2%

Shares of NYSE:TGT opened at $95.05 on Thursday. The stock has a fifty day simple moving average of $97.49 and a two-hundred day simple moving average of $120.55. The stock has a market capitalization of $43.19 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 1.94 and a beta of 1.27. Target has a 12-month low of $87.35 and a 12-month high of $167.40. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). The company had revenue of $24.20 billion for the quarter, compared to analysts’ expectations of $24.54 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.03 EPS. On average, research analysts anticipate that Target will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 4.71%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s dividend payout ratio is presently 50.56%.

Institutional Trading of Target

Several hedge funds have recently bought and sold shares of the stock. Horrell Capital Management Inc. grew its holdings in Target by 0.3% during the fourth quarter. Horrell Capital Management Inc. now owns 26,657 shares of the retailer’s stock valued at $3,603,000 after purchasing an additional 76 shares during the period. Fiducient Advisors LLC grew its holdings in Target by 4.6% during the fourth quarter. Fiducient Advisors LLC now owns 1,778 shares of the retailer’s stock valued at $240,000 after purchasing an additional 78 shares during the period. First PREMIER Bank grew its holdings in Target by 21.9% during the fourth quarter. First PREMIER Bank now owns 445 shares of the retailer’s stock valued at $61,000 after purchasing an additional 80 shares during the period. CENTRAL TRUST Co grew its holdings in Target by 0.4% during the fourth quarter. CENTRAL TRUST Co now owns 18,593 shares of the retailer’s stock valued at $2,513,000 after purchasing an additional 82 shares during the period. Finally, Napatree Capital LLC grew its holdings in Target by 2.4% during the fourth quarter. Napatree Capital LLC now owns 3,609 shares of the retailer’s stock valued at $488,000 after purchasing an additional 85 shares during the period. Institutional investors 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.