Legacy Capital Group California Inc. Sells 3,063 Shares of Target Co. (NYSE:TGT)

Legacy Capital Group California Inc. trimmed its stake in Target Co. (NYSE:TGT) by 58.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,220 shares of the retailer’s stock after selling 3,063 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Target were worth $300,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of TGT. Legacy Investment Solutions LLC purchased a new position in Target in the third quarter valued at approximately $28,000. FSA Wealth Management LLC bought a new stake in shares of Target in the third quarter valued at $36,000. Catalyst Capital Advisors LLC purchased a new position in shares of Target during the 3rd quarter valued at $38,000. MCF Advisors LLC grew its stake in shares of Target by 175.3% during 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. Finally, Raleigh Capital Management Inc. increased its holdings in Target by 110.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after acquiring an additional 135 shares during the last quarter. 79.73% of the stock is owned by institutional investors.

Target Trading Down 2.9 %

Shares of TGT stock opened at $124.40 on Friday. 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 firm has a market cap of $57.00 billion, a P/E ratio of 13.19, a price-to-earnings-growth ratio of 1.98 and a beta of 1.15. The business has a 50-day moving average price of $134.41 and a two-hundred day moving average price of $142.67. Target Co. has a 12-month low of $120.21 and a 12-month high of $181.86.

Target (NYSE:TGT) last released its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a return on equity of 31.11% and a net margin of 4.06%. The firm had revenue of $25.23 billion during the quarter, compared to the consensus estimate of $25.87 billion. During the same quarter in the previous year, the firm earned $2.10 EPS. The business’s quarterly revenue was up .9% compared to the same quarter last year. Equities analysts anticipate that Target Co. will post 8.69 EPS for the current fiscal 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 paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.60%. Target’s dividend payout ratio (DPR) is 47.51%.

Wall Street Analyst Weigh In

Several research firms have commented on TGT. Citigroup upped their price objective on shares of Target from $130.00 to $133.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Sanford C. Bernstein upped their price target on shares of Target from $139.00 to $142.00 and gave the company a “market perform” rating in a research note on Tuesday, January 28th. Evercore ISI reduced their price objective 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. StockNews.com upgraded Target from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Truist Financial lifted their price target on Target from $129.00 to $134.00 and gave the company a “hold” rating in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $157.70.

Target Profile

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.