New Mexico Educational Retirement Board Lowers Stock Position in Target Co. (NYSE:TGT)

New Mexico Educational Retirement Board cut its position in shares of Target Co. (NYSE:TGT) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,016 shares of the retailer’s stock after selling 600 shares during the period. New Mexico Educational Retirement Board’s holdings in Target were worth $2,976,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans lifted its holdings in Target by 1.8% during the third quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock valued at $4,368,000 after purchasing an additional 490 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in Target by 25.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer’s stock valued at $2,430,000 after purchasing an additional 3,590 shares in the last quarter. Northeast Financial Group Inc. purchased a new position in Target during the fourth quarter valued at $1,566,000. D.A. Davidson & CO. lifted its holdings in Target by 8.6% during the third quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock valued at $18,619,000 after purchasing an additional 9,510 shares in the last quarter. Finally, Prana Capital Management LP lifted its holdings in Target by 47.5% during the third quarter. Prana Capital Management LP now owns 217,081 shares of the retailer’s stock valued at $33,834,000 after purchasing an additional 69,885 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Trading Down 0.6 %

NYSE TGT opened at $127.86 on Friday. The firm has a 50 day simple moving average of $135.11 and a 200-day simple moving average of $143.21. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. Target Co. has a one year low of $120.21 and a one year high of $181.86. The firm has a market cap of $58.58 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 2.04 and a beta of 1.15.

Target (NYSE:TGT) last posted 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). Target had a net margin of 4.06% and a return on equity of 31.11%. The business had revenue of $25.23 billion during the quarter, compared to analysts’ expectations of $25.87 billion. During the same period in the previous year, the business posted $2.10 EPS. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Equities research analysts anticipate that Target Co. will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

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. This represents a $4.48 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Wednesday, February 12th. Target’s payout ratio is 47.51%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Piper Sandler decreased their price objective on shares of Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft downgraded shares of Target from a “buy” rating to a “hold” rating and decreased their price objective for the company from $184.00 to $108.00 in a report on Wednesday, November 20th. Gordon Haskett cut shares of Target from a “buy” rating to a “hold” rating in a research report on Thursday. Bank of America reduced their target price on shares of Target from $195.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Finally, TD Cowen reduced their target price on shares of Target from $165.00 to $145.00 and set a “hold” rating for the company in a research report on Thursday, November 21st. One 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $157.70.

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.