Grimes & Company Inc. Reduces Holdings in Target Co. (NYSE:TGT)

Grimes & Company Inc. trimmed its holdings in shares of Target Co. (NYSE:TGT) by 85.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,212 shares of the retailer’s stock after selling 48,290 shares during the period. Grimes & Company Inc.’s holdings in Target were worth $1,110,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of TGT. Legacy Investment Solutions LLC purchased a new stake in Target in the 3rd quarter worth approximately $28,000. Wolff Wiese Magana LLC grew its stake in Target by 156.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after acquiring an additional 133 shares during the period. FSA Wealth Management LLC purchased a new stake in Target in the 3rd quarter worth approximately $36,000. Catalyst Capital Advisors LLC purchased a new stake in Target in the 3rd quarter worth approximately $38,000. Finally, MCF Advisors LLC grew its stake in Target by 175.3% in the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after acquiring an additional 163 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on TGT. Evercore ISI lowered their target price on shares of Target from $165.00 to $130.00 and set an “in-line” rating for the company in a research note on Thursday, November 21st. Wells Fargo & Company lowered their price objective on shares of Target from $180.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Guggenheim boosted their price objective on shares of Target from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday. Telsey Advisory Group reissued an “outperform” rating and set a $150.00 price objective on shares of Target in a research note on Friday, January 17th. Finally, Piper Sandler lowered their price objective on shares of Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $158.57.

Target Stock Performance

Shares of TGT stock opened at $137.99 on Friday. Target Co. has a 12 month low of $120.21 and a 12 month high of $181.86. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The firm has a market capitalization of $63.23 billion, a P/E ratio of 14.63, a P/E/G ratio of 2.21 and a beta of 1.16. The company’s fifty day moving average price is $134.37 and its two-hundred day moving average price is $144.82.

Target (NYSE:TGT) last issued its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The company had revenue of $25.23 billion during the quarter, compared to analyst estimates of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the company posted $2.10 EPS. On average, research analysts anticipate that Target Co. will post 8.68 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be paid a $1.12 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.25%. Target’s dividend payout ratio (DPR) is presently 47.51%.

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.