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

Target Corporation (NYSE:TGT - Get Free Report) has reached a new 52-week low as of mid-day trading on Monday, where the stock fell to $100.50 before stabilizing at $102.26, with a trading volume of over 1 million shares. The previous closing price was $103.65, indicating a significant decline.

Analyst Opinions

Market analysts have weighed in on Target's recent stock performance. Guggenheim increased their price target for Target from $145.00 to $155.00, maintaining a "buy" rating. Meanwhile, Goldman Sachs reduced their price target from $166.00 to $142.00 but still retains a "buy" rating. Citigroup lowered their price target from $133.00 to $120.00, assigning a "neutral" rating. Sanford C. Bernstein continues to hold a "market perform" rating. Jefferies Financial Group also decreased their price target from $165.00 to $150.00 while keeping a "buy" rating. Overall, there is a mix of ratings, with one analyst recommending a sell, seventeen a hold, and fourteen a buy. The consensus rating is currently categorized as "Hold" with an average target price of $143.40.

Current Financial Status

Target is currently trading down by 0.3%. The company shows a quick ratio of 0.25, a current ratio of 0.94, and a debt-to-equity ratio of 0.99. The 50-day moving average stands at $122.96, with the 200-day moving average at $136.39. Target's market capitalization is reported at $47.09 billion. The price-to-earnings ratio is 10.96 with a price-to-earnings-growth ratio of 1.94 and a beta of 1.18.

Recent Earnings Report

In the latest quarterly earnings report released on March 4th, Target reported earnings per share (EPS) of $2.41, which exceeded analyst estimates of $2.24. The retailer achieved a return on equity of 31.11% and a net margin of 4.06%. Target reported total revenues of $30.92 billion, slightly above the estimates of $30.83 billion. Analysts anticipate an EPS of 8.69 for the current fiscal year.

Dividend Announcement

Target has announced a quarterly dividend that will be distributed on June 1st. Shareholders on record as of May 14th will receive a dividend of $1.12 per share. The company's annualized dividend yield is 4.33%, with a dividend payout ratio of 50.56%.

Institutional Investors' Actions

Recent changes in holdings by institutional investors include Kathmere Capital Management LLC increasing their stake in Target by 3.0% in the fourth quarter, now owning 2,541 shares valued at $343,000. Horrell Capital Management Inc. and Fiducient Advisors LLC also slightly boosted their holdings in the same period. Notably, 79.73% of Target's shares are currently owned by institutional investors.

About Target

Target Corporation operates as a general merchandise retailer in the U.S., providing a diverse range of products including apparel, beauty products, baby gear, cleaning supplies, and more.

Target, Stock, Finance