MWA Asset Management Sells 2,022 Shares of Target Co. (NYSE:TGT)

MWA Asset Management lessened its position in shares of Target Co. (NYSE:TGT) by 24.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,202 shares of the retailer’s stock after selling 2,022 shares during the period. MWA Asset Management’s holdings in Target were worth $838,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vest Financial LLC boosted its position in Target by 13.1% during the fourth quarter. Vest Financial LLC now owns 379,976 shares of the retailer’s stock worth $51,365,000 after purchasing an additional 43,976 shares during the period. Cidel Asset Management Inc. lifted its stake in shares of Target by 4.1% during the 4th quarter. Cidel Asset Management Inc. now owns 6,006 shares of the retailer’s stock valued at $812,000 after buying an additional 235 shares in the last quarter. Joel Isaacson & Co. LLC boosted its holdings in Target by 30.5% in the 4th quarter. Joel Isaacson & Co. LLC now owns 3,349 shares of the retailer’s stock worth $453,000 after buying an additional 783 shares during the period. SOA Wealth Advisors LLC. grew its stake in Target by 37.4% in the 4th quarter. SOA Wealth Advisors LLC. now owns 2,166 shares of the retailer’s stock valued at $293,000 after buying an additional 590 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in Target during the 4th quarter valued at $90,000. Institutional investors own 79.73% of the company’s stock.

Target Stock Performance

Target stock opened at $131.29 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The firm has a market cap of $60.16 billion, a P/E ratio of 13.92, a P/E/G ratio of 2.24 and a beta of 1.15. Target Co. has a 1-year low of $120.21 and a 1-year high of $181.86. The firm has a 50-day moving average of $135.24 and a 200-day moving average of $143.98.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $25.23 billion during the quarter, compared to analysts’ expectations of $25.87 billion. During the same quarter last year, the business posted $2.10 EPS. The company’s quarterly revenue was up .9% compared to the same quarter last year. Sell-side analysts expect that Target Co. will post 8.69 EPS for the current year.

Target Announces Dividend

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 given a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $4.48 annualized dividend and a dividend yield of 3.41%. Target’s dividend payout ratio is 47.51%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TGT. StockNews.com raised Target from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Piper Sandler cut their target price on Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research note on Thursday, November 21st. TD Cowen reduced their target price on Target from $165.00 to $145.00 and set a “hold” rating for the company in a report on Thursday, November 21st. Daiwa America downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. Finally, 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, January 22nd. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Target presently has an average rating of “Hold” and an average target price of $157.70.

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.