Global Retirement Partners LLC Decreases Stake in Target Co. (NYSE:TGT)

Global Retirement Partners LLC reduced its holdings in Target Co. (NYSE:TGT) by 12.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,233 shares of the retailer’s stock after selling 2,296 shares during the period. Global Retirement Partners LLC’s holdings in Target were worth $2,194,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of TGT. Allspring Global Investments Holdings LLC grew its holdings in shares of Target by 57.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 183,365 shares of the retailer’s stock valued at $28,579,000 after purchasing an additional 66,870 shares in the last quarter. Eastern Bank grew its holdings in shares of Target by 47.2% in the third quarter. Eastern Bank now owns 2,302 shares of the retailer’s stock valued at $359,000 after purchasing an additional 738 shares in the last quarter. Courier Capital LLC acquired a new position in shares of Target in the third quarter valued at approximately $1,532,000. Monte Financial Group LLC grew its holdings in shares of Target by 22.6% in the third quarter. Monte Financial Group LLC now owns 50,932 shares of the retailer’s stock valued at $7,938,000 after purchasing an additional 9,381 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of Target by 9,940.6% in the third quarter. International Assets Investment Management LLC now owns 2,001,391 shares of the retailer’s stock valued at $311,937,000 after purchasing an additional 1,981,458 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Down 1.9 %

Shares of Target stock opened at $128.20 on Friday. The stock has a market capitalization of $58.74 billion, a P/E ratio of 13.60, a PEG ratio of 1.97 and a beta of 1.15. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The stock has a 50 day moving average price of $134.61 and a two-hundred day moving average price of $142.74. Target Co. has a 12-month low of $120.21 and a 12-month high of $181.86.

Target (NYSE:TGT) last announced 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 for the quarter, compared to the consensus estimate of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.10 EPS. Equities analysts expect that Target Co. will post 8.69 earnings per share for the current year.

Target Announces Dividend

The firm also recently disclosed 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 3.49%. Target’s dividend payout ratio is 47.51%.

Wall Street Analysts Forecast Growth

TGT has been the subject of a number of research reports. Evercore ISI dropped their price objective on shares of Target from $165.00 to $130.00 and set an “in-line” rating for the company in a report on Thursday, November 21st. Gordon Haskett cut shares of Target from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Guggenheim boosted their price target on shares of Target from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Piper Sandler lowered their price target on shares of Target from $156.00 to $130.00 and set a “neutral” rating for the company in a report on Thursday, November 21st. Finally, BMO Capital Markets lowered their price target on shares of Target from $160.00 to $120.00 and set a “market perform” rating for the company in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Target currently has a consensus rating of “Hold” and a consensus 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.