Whitener Capital Management Inc. Sells 3,573 Shares of Target Co. (NYSE:TGT)

Whitener Capital Management Inc. cut its holdings in shares of Target Co. (NYSE:TGT) by 40.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,202 shares of the retailer’s stock after selling 3,573 shares during the quarter. Whitener Capital Management Inc.’s holdings in Target were worth $703,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in shares of Target in the 3rd quarter worth approximately $28,000. Wolff Wiese Magana LLC boosted its stake in Target by 156.5% during the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after buying an additional 133 shares in the last quarter. FSA Wealth Management LLC bought a new stake in Target in the 3rd quarter valued at $36,000. Catalyst Capital Advisors LLC bought a new position in shares of Target during the 3rd quarter worth about $38,000. Finally, Reston Wealth Management LLC bought a new stake in Target in the third quarter valued at about $41,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on TGT. Hsbc Global Res downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 20th. Wells Fargo & Company reduced their target price on Target from $180.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Telsey Advisory Group restated an “outperform” rating and issued a $150.00 target price on shares of Target in a research note on Friday. Piper Sandler dropped their price objective on shares of Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research report on Thursday, November 21st. Finally, Oppenheimer reiterated an “outperform” rating and issued a $165.00 price objective on shares of Target in a research report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, Target has an average rating of “Hold” and an average target price of $158.23.

Target Stock Up 0.3 %

TGT stock opened at $133.62 on Friday. Target Co. has a 1-year low of $120.21 and a 1-year high of $181.86. The business’s 50 day simple moving average is $136.45 and its 200 day simple moving average is $145.23. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $61.22 billion, a PE ratio of 14.17, a PEG ratio of 2.32 and a beta of 1.16.

Target (NYSE:TGT) last posted its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) 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 company had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. During the same quarter in the prior year, the business posted $2.10 EPS. The business’s quarterly revenue was up .9% compared to the same quarter last year. As a group, research analysts anticipate that Target Co. will post 8.6 EPS for the current year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Wednesday, February 12th. Target’s payout ratio is 47.51%.

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.