Target (NYSE:TGT) Hits New 52-Week Low - Here's What Happened

On Monday, shares of Target Corporation (NYSE:TGT) reached a new low for the past year, trading at $111.84 before closing at $113.34. The day's trading volume was substantial, with 5,435,060 shares exchanged, compared to a previous close of $115.08.

Analyst Reviews

Recently, various brokerage firms released reports regarding Target's stock performance. Wells Fargo & Company adjusted their target price for Target from $150.00 to $135.00 while maintaining an "overweight" rating. In contrast, Daiwa America downgraded their stance from "strong-buy" to "hold". BMO Capital Markets also cut their target price from $160.00 to $120.00 and gave a "market perform" rating. Additionally, JPMorgan Chase & Co. reduced their target from $146.00 to $140.00, designating a "neutral" rating. Meanwhile, DA Davidson lowered their price objective to $140.00 from $153.00 but maintained a "buy" rating. Overall, one analyst has rated Target as a sell, eighteen maintain a hold rating, and fourteen have issued buy ratings, with the majority indicating a consensus rating of "Hold" and a target price of $145.87.

Target Stock Performance

On that particular trading day, Target’s stock was down by 1.2%. The company boasts a market capitalization of $52.12 billion, a price-to-earnings ratio of 12.06, and a PEG ratio of 1.94. It has a beta of 1.18, with 50-day and 200-day moving averages at $132.05 and $141.37, respectively. Financial metrics show a current ratio of 0.94 and a quick ratio of just 0.25, indicating potential liquidity concerns, and a debt-to-equity ratio of 0.99.

Quarterly Earnings Update

Target announced their latest quarterly results on March 4th. The retailer reported earnings per share (EPS) of $2.41, surpassing analyst expectations which were set at $2.24. The company had a net margin of 4.06% and a return on equity of 31.11%. Their revenue for the quarter was recorded at $30.92 billion, above the expectations of $30.83 billion. Analysts forecast that Target will report an EPS of 8.69 for the current fiscal year.

Dividend Announcement

Target recently declared a quarterly dividend of $1.12, which was paid out on March 1st to shareholders on record as of February 12th. This dividend suggests an annual payout of $4.48, leading to a dividend yield of 3.94%, with a payout ratio of 50.56%.

Institutional Ownership Trends

In recent months, significant institutional trading activity has been noted. Legacy Investment Solutions LLC entered a new position in Target during the third quarter, valued at approximately $28,000. Hopwood Financial Services added approximately $29,000 worth of shares in the fourth quarter, while Bernard Wealth Management Corp purchased a similar amount. Furthermore, MCF Advisors LLC increased their holdings by 175.3% in the fourth quarter, now owning 256 shares valued at around $35,000. Likewise, Raleigh Capital Management boosted their position by 110.7%, now holding stated shares valued at $35,000. Currently, 79.73% of the shares are owned by hedge funds and other institutional investors.

Company Overview

Target Corporation operates as a diverse general merchandise retailer in the United States. The company offers a wide range of products, including clothing for men, women, boys, girls, and infants, alongside jewelry, beauty products, and essential household items.

Further Insights

This situation prompts potential investors to evaluate their options concerning Target stock. Before making any investment decisions, consider current market trends and analyst ratings. Always consult various sources for information.

Target, Stock, Investing