Huntington National Bank Decreases Holdings in Target Co. (NYSE:TGT)

Huntington National Bank trimmed its holdings in Target Co. (NYSE:TGT) by 25.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 135,598 shares of the retailer’s stock after selling 46,812 shares during the quarter. Huntington National Bank’s holdings in Target were worth $18,330,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Groupama Asset Managment boosted its position in Target by 33.5% during the fourth quarter. Groupama Asset Managment now owns 14,625 shares of the retailer’s stock valued at $1,975,000 after buying an additional 3,668 shares during the period. Geode Capital Management LLC lifted its stake in shares of Target by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 9,885,015 shares of the retailer’s stock valued at $1,332,317,000 after acquiring an additional 470,990 shares during the last quarter. Diametric Capital LP purchased a new stake in Target during the 4th quarter valued at about $215,000. National Wealth Management Group LLC bought a new position in Target during the 4th quarter worth approximately $448,000. Finally, HighPoint Advisor Group LLC increased its stake in Target by 6.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 15,551 shares of the retailer’s stock worth $2,065,000 after purchasing an additional 993 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Performance

Shares of TGT opened at $105.84 on Thursday. The company has a market cap of $48.22 billion, a price-to-earnings ratio of 11.22, a P/E/G ratio of 1.94 and a beta of 1.18. The business’s fifty day simple moving average is $121.12 and its two-hundred day simple moving average is $135.54. Target Co. has a 12 month low of $99.98 and a 12 month high of $177.23. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last released its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, topping the consensus estimate of $2.24 by $0.17. The company had revenue of $30.92 billion during 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%. Research analysts anticipate that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be given a dividend of $1.12 per share. The ex-dividend date is Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a yield of 4.23%. Target’s dividend payout ratio (DPR) is 50.56%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TGT shares. Evercore ISI cut their target price on shares of Target from $130.00 to $120.00 and set an “in-line” rating on the stock in a report on Tuesday. DA Davidson cut their price target on shares of Target from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Piper Sandler cut their target price on Target from $132.00 to $124.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. Stifel Nicolaus lowered their price target on Target from $130.00 to $120.00 and set a “hold” rating for the company in a research report on Thursday, March 20th. Finally, Roth Mkm reiterated a “neutral” rating and issued a $122.00 price objective (down previously from $131.00) on shares of Target in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Target has an average rating of “Hold” and an average price target of $142.90.

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.