Target (NYSE:TGT) Trading 0.4% Higher - Here's Why

On Wednesday, Target Co. (NYSE:TGT) saw its stock rise by 0.4% during trading hours. The stock reached a high of $132.67 before settling at $132.40. During midday trading, approximately 1,647,679 shares changed hands, marking a significant decline of 64% from the average daily volume of 4,559,011 shares. The previous closing price stood at $131.92.

Wall Street Analyst Opinions

Recent commentary from research analysts regarding Target shares has highlighted varying opinions. TD Cowen adjusted their price target, lowering it from $165.00 to $145.00 while maintaining a "hold" rating on the stock as of November 21st. Similarly, Daiwa America reduced Target's rating from "strong-buy" to "hold" on November 26th. Meanwhile, Wells Fargo decreased their price target from $180.00 to $150.00, also assigning an "overweight" rating. Deutsche Bank shifted their stance by dropping the stock from a "buy" to a "hold" rating, setting a new price target at $108.00. BMO Capital Markets further decreased their price objective from $160.00 to $120.00, labeling it as "market perform." In summary, one analyst has given the stock a sell rating, seventeen have a hold rating, and fifteen have a buy rating. MarketBeat data reveals a consensus rating of "Hold" and an average target price of $160.57.

Target's Stock Performance

The stock with a market capitalization of $60.67 billion has a price-to-earnings ratio of 14.04, a P/E/G ratio of 2.23, and a beta of 1.17. The fifty-day simple moving average sits at $141.35, while the two-hundred-day average stands at $146.31. Target's financial ratios include a debt-to-equity ratio of 0.99, a current ratio of 0.94, and a quick ratio of 0.25.

Recently, Target announced its earnings results on November 20th. For the quarter, the retailer reported earnings per share (EPS) of $1.85, which missed analysts' expectations of $2.30 by $0.45. The company's revenue totaled $25.23 billion, falling short of the consensus estimate of $25.87 billion. Target recorded a net margin of 4.06% and a return on equity of 31.11%. The quarterly revenue reflects an increase of 0.9% compared to the same quarter last year. In the previous year, Target reported an EPS of $2.10. Analysts project that Target will achieve an EPS of 8.6 for the current year.

Insider Transactions at Target

In other news, insider Richard H. Gomez sold 6,348 shares of Target on September 27th at an average price of $157.17, resulting in a transaction totaling $997,715.16. Following this sale, Gomez holds 123,551 shares in the company, valued at approximately $19.42 million, indicating a 4.89% drop in his stock ownership. This transaction was formally disclosed to the Securities & Exchange Commission.

Institutional Investor Activities

Recently, various hedge funds and institutional investors have made adjustments to their holdings in Target. For instance, Legacy Investment Solutions LLC acquired a new stake in the retailer worth about $28,000 during the third quarter. Similarly, Slocum Gordon & Co LLP bought a new stake valued at approximately $28,000 in the second quarter. Wolff Wiese Magana LLC raised its stake in Target by 156.5%, now owning 218 shares valued at $34,000 after purchasing an additional 133 shares. FSA Wealth Management LLC and Catalyst Capital Advisors LLC also acquired new stakes during the third quarter, valued at $36,000 and $38,000, respectively. Notably, 79.73% of Target's stock is owned by institutional investors.

Understanding Target Corporation

Target Corporation operates as a general merchandise retailer within the United States. The company offers a wide range of products, including clothing for various demographics, jewelry, accessories, shoes, beauty products, baby supplies, cleaning supplies, and pet products.

Investment Considerations

Before making any investment decisions regarding Target, it's essential to conduct thorough research. Although the stock has a current "Hold" rating, some analysts suggest that other stocks may be better investment opportunities.

Explore potential investment opportunities and consider diversifying your portfolio.

Target, Stocks, Investment