Fifth Third Bancorp Cuts Stock Holdings in Target Co. (NYSE:TGT)

Fifth Third Bancorp cut its stake in Target Co. (NYSE:TGT) by 12.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,215 shares of the retailer’s stock after selling 7,780 shares during the period. Fifth Third Bancorp’s holdings in Target were worth $7,194,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TGT. Pflug Koory LLC boosted its stake in shares of Target by 0.9% in the 4th quarter. Pflug Koory LLC now owns 14,098 shares of the retailer’s stock valued at $1,906,000 after buying an additional 128 shares during the period. Gradient Investments LLC raised its holdings in Target by 30.6% in the fourth quarter. Gradient Investments LLC now owns 221,061 shares of the retailer’s stock valued at $29,883,000 after acquiring an additional 51,794 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in Target by 82.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 226,186 shares of the retailer’s stock valued at $30,576,000 after acquiring an additional 102,470 shares in the last quarter. CX Institutional grew its holdings in Target by 9.3% during the 4th quarter. CX Institutional now owns 3,994 shares of the retailer’s stock worth $540,000 after acquiring an additional 340 shares in the last quarter. Finally, Neumann Capital Management LLC increased its position in shares of Target by 3.0% in the 4th quarter. Neumann Capital Management LLC now owns 13,930 shares of the retailer’s stock valued at $1,883,000 after purchasing an additional 400 shares during the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TGT shares. HSBC downgraded shares of Target from a “buy” rating to a “hold” rating and set a $138.00 target price for the company. in a research note on Wednesday, November 20th. StockNews.com upgraded Target from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Daiwa America cut Target from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Roth Mkm cut their price objective on shares of Target from $157.00 to $131.00 and set a “neutral” rating on the stock in a report on Thursday, November 21st. Finally, Truist Financial increased their target price on shares of Target from $129.00 to $134.00 and gave the company a “hold” rating in a research report on Friday, January 17th. 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 MarketBeat.com, Target presently has a consensus rating of “Hold” and a consensus target price of $158.57.

Target Stock Performance

NYSE TGT opened at $137.99 on Monday. The stock has a market capitalization of $63.23 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 2.21 and a beta of 1.16. The business’s 50 day moving average is $134.37 and its two-hundred day moving average is $144.80. Target Co. has a 12-month low of $120.21 and a 12-month high of $181.86. 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 Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.45). The business had revenue of $25.23 billion during the quarter, compared to analysts’ expectations of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.10 EPS. Research analysts expect that Target Co. will post 8.68 EPS for the current year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a yield of 3.25%. Target’s dividend payout ratio (DPR) is presently 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.