Target (TGT) Shares Gap Down to $75.70

Shares of Target Co. (NYSE:TGT) gapped down prior to trading on Tuesday . The stock had previously closed at $78.56, but opened at $75.70. Target shares last traded at $72.86, with a volume of 7085630 shares trading hands.

Several analysts have issued reports on the company. Zacks Investment Research upgraded Target from a “hold” rating to a “strong-buy” rating and set a $88.00 target price on the stock in a research note on Saturday, January 20th. Citigroup restated a “neutral” rating and issued a $80.00 target price (down from $86.00) on shares of Target in a research note on Friday. Vetr lowered Target from a “hold” rating to a “sell” rating and set a $73.66 target price on the stock. in a research note on Thursday, February 15th. MKM Partners set a $93.00 target price on Target and gave the company a “buy” rating in a research note on Friday, January 12th. Finally, ValuEngine upgraded Target from a “hold” rating to a “buy” rating in a research note on Tuesday, February 13th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $69.56.

The company has a debt-to-equity ratio of 1.01, a current ratio of 0.96 and a quick ratio of 0.27. The company has a market cap of $39,600.00, a PE ratio of 15.31, a P/E/G ratio of 3.57 and a beta of 0.75.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Wednesday, February 21st will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Tuesday, February 20th. Target’s payout ratio is 52.10%.

In related news, Director Roxanne S. Austin sold 4,705 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $62.61, for a total transaction of $294,580.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephanie A. Lundquist sold 3,000 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $78.08, for a total value of $234,240.00. Following the transaction, the insider now owns 16,906 shares of the company’s stock, valued at $1,320,020.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,262 shares of company stock valued at $1,185,484. 0.20% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. grew its position in Target by 52.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 63,620 shares of the retailer’s stock worth $4,150,000 after buying an additional 21,816 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Target by 4.4% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 201,029 shares of the retailer’s stock worth $13,117,000 after buying an additional 8,444 shares in the last quarter. Griffin Asset Management Inc. grew its position in Target by 10.3% during the fourth quarter. Griffin Asset Management Inc. now owns 76,951 shares of the retailer’s stock worth $5,021,000 after buying an additional 7,212 shares in the last quarter. SevenBridge Financial Group LLC lifted its stake in Target by 48.1% during the fourth quarter. SevenBridge Financial Group LLC now owns 2,828 shares of the retailer’s stock worth $185,000 after purchasing an additional 919 shares during the last quarter. Finally, Sawtooth Solutions LLC bought a new stake in Target during the fourth quarter worth about $1,083,000. Institutional investors and hedge funds own 88.32% of the company’s stock.

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Target Company Profile

Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.

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