Asset Management One Co. Ltd. Cuts Stock Holdings in Target Co. (NYSE:TGT)

Asset Management One Co. Ltd. decreased its stake in shares of Target Co. (NYSE:TGT) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 176,901 shares of the retailer’s stock after selling 5,441 shares during the period. Asset Management One Co. Ltd.’s holdings in Target were worth $23,970,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Cynosure Group LLC boosted its position in shares of Target by 4.3% during the third quarter. Cynosure Group LLC now owns 1,590 shares of the retailer’s stock valued at $248,000 after buying an additional 65 shares during the last quarter. Financial Advocates Investment Management lifted its holdings in Target by 1.2% during the third quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock worth $894,000 after acquiring an additional 67 shares during the period. Hancock Whitney Corp lifted its holdings in Target by 3.3% during the third quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock worth $336,000 after acquiring an additional 68 shares during the period. Trust Co. of Vermont lifted its holdings in Target by 0.4% during the third quarter. Trust Co. of Vermont now owns 15,678 shares of the retailer’s stock worth $2,444,000 after acquiring an additional 69 shares during the period. Finally, Eagle Bluffs Wealth Management LLC lifted its holdings in Target by 1.1% during the third quarter. Eagle Bluffs Wealth Management LLC now owns 6,818 shares of the retailer’s stock worth $1,063,000 after acquiring an additional 73 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Price Performance

Target stock opened at $127.86 on Friday. Target Co. has a 52 week low of $120.21 and a 52 week high of $181.86. The business has a 50-day simple moving average of $135.20 and a 200 day simple moving average of $143.34. 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 stock 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 earnings results 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 return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. During the same quarter in the previous year, the firm earned $2.10 earnings per share. Target’s quarterly revenue was up .9% compared to the same quarter last year. On average, research analysts forecast that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend is Wednesday, February 12th. Target’s payout ratio is currently 47.51%.

Analysts Set New Price Targets

A number of analysts recently commented on TGT shares. Roth Mkm dropped their price target on Target from $157.00 to $131.00 and set a “neutral” rating on the stock in a report on Thursday, November 21st. Truist Financial lifted their price target on Target from $129.00 to $134.00 and gave the stock a “hold” rating in a report on Friday, January 17th. Stifel Nicolaus lifted their price target on Target from $137.00 to $145.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. BMO Capital Markets dropped their price target on Target from $160.00 to $120.00 and set a “market perform” rating on the stock in a report on Thursday, November 21st. Finally, Daiwa America lowered Target from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Target has an average rating of “Hold” and a consensus target price 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.