First Citizens Bank & Trust Co. Lowers Position in Target Co. (NYSE:TGT)

First Citizens Bank & Trust Co. lowered its stake in shares of Target Co. (NYSE:TGT) by 6.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 10,156 shares of the retailer’s stock after selling 733 shares during the period. First Citizens Bank & Trust Co.’s holdings in Target were worth $1,373,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TGT. Legacy Investment Solutions LLC purchased a new stake in Target during the third quarter worth about $28,000. Wolff Wiese Magana LLC lifted its holdings in shares of Target by 156.5% in the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after purchasing an additional 133 shares in the last quarter. MCF Advisors LLC lifted its holdings in shares of Target by 175.3% in the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after purchasing an additional 163 shares in the last quarter. Raleigh Capital Management Inc. lifted its holdings in shares of Target by 110.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock valued at $35,000 after purchasing an additional 135 shares in the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in shares of Target in the third quarter valued at about $36,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Price Performance

Shares of TGT stock opened at $137.99 on Monday. Target Co. has a twelve month low of $120.21 and a twelve 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. The company has a market capitalization of $63.23 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 2.21 and a beta of 1.16. The firm has a fifty day simple moving average of $134.37 and a 200-day simple moving average of $144.80.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. During the same quarter last year, the company earned $2.10 earnings per share. The company’s revenue was up .9% compared to the same quarter last year. Equities research analysts anticipate that Target Co. will post 8.68 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th will be paid a dividend of $1.12 per share. The ex-dividend date 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 47.51%.

Analysts Set New Price Targets

TGT has been the topic of several recent research reports. Guggenheim upped their price target on shares of Target from $145.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Truist Financial upped their price target on shares of Target from $129.00 to $134.00 and gave the company a “hold” rating in a report on Friday, January 17th. Stifel Nicolaus boosted their price objective on shares of Target from $137.00 to $145.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft lowered shares of Target from a “buy” rating to a “hold” rating and cut their price objective for the company from $184.00 to $108.00 in a research report on Wednesday, November 20th. Finally, TD Cowen cut their price objective 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 analyst has rated the stock with a sell rating, sixteen have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $158.57.

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.