Target (NYSE:TGT) Shares Down 1.7%

Target Co. (NYSE:TGT)’s share price traded down 1.7% during mid-day trading on Wednesday . The company traded as low as $144.67 and last traded at $145.56. 1,186,075 shares changed hands during trading, a decline of 70% from the average session volume of 4,018,158 shares. The stock had previously closed at $148.01.

Analyst Upgrades and Downgrades

Several research firms recently commented on TGT. JPMorgan Chase & Co. increased their target price on Target from $153.00 to $167.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Jefferies Financial Group raised their target price on Target from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Telsey Advisory Group lifted their price objective on Target from $190.00 to $195.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Wells Fargo & Company lifted their price objective on Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, Daiwa America raised shares of Target to a “strong-buy” rating in a research report on Monday, August 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $179.68.

Target Stock Performance

The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $67.51 billion, a P/E ratio of 16.36, a P/E/G ratio of 1.95 and a beta of 1.24. The company’s fifty day moving average is $147.78 and its 200 day moving average is $155.11.

Target (NYSE:TGT) last issued its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The business had revenue of $25.02 billion during the quarter, compared to analyst estimates of $25.19 billion. During the same quarter in the prior year, the firm earned $1.80 earnings per share. Target’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, equities analysts anticipate that Target Co. will post 9.53 earnings per share for the current year.

Insider Activity at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the transaction, the chief accounting officer now owns 7,276 shares in the company, valued at approximately $1,114,173.88. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. SS&H Financial Advisors Inc. purchased a new position in Target during the 2nd quarter worth approximately $213,000. Sanctuary Advisors LLC acquired a new position in shares of Target during the second quarter valued at approximately $15,591,000. Creekside Partners acquired a new stake in shares of Target in the second quarter valued at about $343,000. Brown Financial Advisors purchased a new stake in Target in the 2nd quarter valued at $1,486,000. Finally, Farmers National Bank grew its stake in shares of Target by 4.0% in the 2nd quarter. Farmers National Bank now owns 21,865 shares of the retailer’s stock valued at $3,237,000 after buying an additional 845 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.