Modern Wealth Management LLC Reduces Stock Position in Target Co. (NYSE:TGT)

Modern Wealth Management LLC trimmed its stake in shares of Target Co. (NYSE:TGT) by 67.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,838 shares of the retailer’s stock after selling 9,955 shares during the period. Modern Wealth Management LLC’s holdings in Target were worth $635,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cynosure Group LLC boosted its stake in shares of Target by 4.3% in the 3rd quarter. Cynosure Group LLC now owns 1,590 shares of the retailer’s stock worth $248,000 after buying an additional 65 shares during the last quarter. Hancock Whitney Corp boosted its position in Target by 3.3% in the third quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock worth $336,000 after purchasing an additional 68 shares during the last quarter. Kathmere Capital Management LLC grew its stake in shares of Target by 3.0% during the 4th quarter. Kathmere Capital Management LLC now owns 2,541 shares of the retailer’s stock valued at $343,000 after purchasing an additional 73 shares during the period. Horrell Capital Management Inc. increased its position in shares of Target by 0.3% during the 4th quarter. Horrell Capital Management Inc. now owns 26,657 shares of the retailer’s stock valued at $3,603,000 after purchasing an additional 76 shares during the last quarter. Finally, First PREMIER Bank boosted its holdings in shares of Target by 21.9% in the fourth quarter. First PREMIER Bank now owns 445 shares of the retailer’s stock worth $61,000 after buying an additional 80 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of Target from $146.00 to $140.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. UBS Group lowered their price objective on Target from $170.00 to $155.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Jefferies Financial Group lowered their price target on shares of Target from $165.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Evercore ISI cut their price target on Target from $135.00 to $130.00 and set an “in-line” rating for the company in a research note on Wednesday, March 5th. Finally, Stifel Nicolaus cut their price objective on shares of Target from $130.00 to $120.00 and set a “hold” rating for the company in a report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $145.55.

Target Stock Performance

Target stock opened at $106.05 on Thursday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The company has a market capitalization of $48.32 billion, a PE ratio of 11.25, a P/E/G ratio of 1.94 and a beta of 1.18. The company has a 50 day moving average price of $124.09 and a 200-day moving average price of $137.08. Target Co. has a fifty-two week low of $101.76 and a fifty-two week high of $181.86.

Target (NYSE:TGT) last posted its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. The business had revenue of $30.92 billion for the quarter, compared to the consensus estimate of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. As a group, equities analysts forecast that Target Co. will post 8.69 earnings per share for the current year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be given a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 annualized dividend and a dividend yield of 4.22%. Target’s payout ratio is presently 50.56%.

Target Company 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.