Hartford Investment Management Co. Sells 647 Shares of Target Co. (NYSE:TGT)

Hartford Investment Management Co. cut its stake in shares of Target Co. (NYSE:TGT) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,490 shares of the retailer’s stock after selling 647 shares during the period. Hartford Investment Management Co.’s holdings in Target were worth $3,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of TGT. State Street Corp raised its holdings in Target by 8.3% during the 3rd quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock valued at $5,530,576,000 after buying an additional 2,732,801 shares during the period. FMR LLC increased its position in Target by 11.7% during the third quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock valued at $1,555,542,000 after acquiring an additional 1,046,044 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Target by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,414,025 shares of the retailer’s stock valued at $1,461,456,000 after acquiring an additional 130,691 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Target by 1.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,321,055 shares of the retailer’s stock worth $517,620,000 after acquiring an additional 62,916 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Target by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,053,471 shares of the retailer’s stock worth $475,914,000 after purchasing an additional 56,695 shares during the period. 79.73% of the stock is owned by institutional investors.

Target Trading Down 3.7 %

NYSE TGT opened at $127.50 on Thursday. The firm has a market cap of $58.42 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 2.04 and a beta of 1.15. Target Co. has a 52 week low of $120.21 and a 52 week high of $181.86. 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 company has a 50 day moving average price of $135.26 and a 200 day moving average price of $143.56.

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

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be paid a dividend of $1.12 per share. 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 3.51%. Target’s payout ratio is 47.51%.

Analyst Ratings Changes

A number of analysts recently weighed in on TGT shares. TD Cowen reduced their price objective on shares of Target from $165.00 to $145.00 and set a “hold” rating on the stock in a research report on Thursday, November 21st. Piper Sandler reduced their price target on Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a report on Thursday, November 21st. Wells Fargo & Company dropped their price objective on Target from $180.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Roth Mkm reduced their target price on Target from $157.00 to $131.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. Finally, Hsbc Global Res lowered shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. One investment 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, the stock presently has an average 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.