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

Shares of Target Co. (NYSE:TGT) reached a new 52-week low on Monday, trading as low as $111.84 before closing at $113.34. The stock had a volume of 5,435,060 shares traded, compared to its previous closing price of $115.08.

Analyst Upgrades and Downgrades

Target's performance has drawn attention from several brokerages. Wells Fargo & Company lowered their target price for Target's shares from $150.00 to $135.00 while maintaining an "overweight" rating as of March 5th. Daiwa America changed its rating from "strong-buy" to "hold" on November 26th. BMO Capital Markets also revised their target price from $160.00 to $120.00 while assigning a "market perform" rating in a report dated November 21st. Similarly, JPMorgan Chase & Co. adjusted their target price from $146.00 to $140.00, labeling the stock as "neutral" on March 5th. DA Davidson also reduced their target price from $153.00 to $140.00 while maintaining a "buy" rating. Currently, while one analyst rates the stock as a sell, 18 analysts provide hold ratings, and 14 give buy ratings. As per MarketBeat data, Target has a consensus rating of "Hold" alongside a target price of $145.87.

Target Stock Down 1.2%

The current market capitalization of Target stands at $52.12 billion, with a price-to-earnings ratio of 12.06. The company holds a PEG ratio of 1.94 and a beta of 1.18. Its fifty-day moving average is $132.05, with a two-hundred-day moving average of $141.37. Target’s financial health shows a current ratio of 0.94, a quick ratio of 0.25, and a debt-to-equity ratio of 0.99.

Target's Recent Earnings Report

On March 4th, Target released its quarterly earnings, reporting earnings per share (EPS) of $2.41, which exceeded analysts’ estimated EPS of $2.24 by $0.17. The retailer noted a net margin of 4.06% and a significant return on equity of 31.11%. The revenue for the quarter was $30.92 billion, slightly above the anticipated $30.83 billion. Analysts predict that Target will post an EPS of 8.69 for the current fiscal year.

Target Announces Dividend

On a positive note, Target recently announced a quarterly dividend, which was disbursed on March 1st, amounting to $1.12 for stockholders recorded on February 12th. The annualized dividend stands at $4.48, offering a yield of 3.94%. Currently, Target's dividend payout ratio is 50.56%.

Institutional Trading Activity

In recent times, large investors have made moves regarding Target shares. Legacy Investment Solutions LLC entered a new position in the company during the third quarter, valued at around $28,000. Hopwood Financial Services Inc. and Bernard Wealth Management Corp. also bought new stakes worth approximately $29,000 each during the fourth quarter. MCF Advisors LLC saw a significant increase in its holdings, raising them by 175.3% in the same quarter. Raleigh Capital Management Inc. also increased its position by 110.7%. Notably, 79.73% of Target's shares are currently held by institutional investors.

Overview of Target Corporation

Target Corporation is a prominent general merchandise retailer in the United States. The company offers a diverse range of products, including apparel for various demographics, jewelry, beauty and personal care items, baby gear, and household necessities.

Consideration for Investors

Investors are encouraged to weigh their options regarding Target stock, especially in light of current market conditions. It is crucial to stay informed about ongoing market trends and analyst recommendations.

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