TCTC Holdings LLC Reduces Stock Position in Target Co. (NYSE:TGT)

TCTC Holdings LLC lessened its stake in shares of Target Co. (NYSE:TGT) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,707 shares of the retailer’s stock after selling 213 shares during the quarter. TCTC Holdings LLC’s holdings in Target were worth $5,503,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC purchased a new stake in Target in the 3rd quarter valued at about $28,000. Hopwood Financial Services Inc. purchased a new stake in Target in the 4th quarter valued at about $29,000. MCF Advisors LLC grew its holdings in Target by 175.3% in the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after buying an additional 163 shares during the period. Raleigh Capital Management Inc. grew its holdings in Target by 110.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock valued at $35,000 after buying an additional 135 shares during the period. Finally, FSA Wealth Management LLC purchased a new stake in Target in the 3rd quarter valued at about $36,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Performance

Shares of TGT opened at $104.71 on Monday. The business’s fifty day moving average price is $129.35 and its 200 day moving average price is $139.63. Target Co. has a 12-month low of $103.46 and a 12-month high of $181.86. The stock has a market capitalization of $47.70 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25.

Target (NYSE:TGT) last announced its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.17. Target had a return on equity of 31.11% and a net margin of 4.06%. The firm had revenue of $30.92 billion for the quarter, compared to analysts’ expectations of $30.83 billion. Equities research analysts forecast that Target Co. will post 8.69 EPS for the current year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s dividend payout ratio is presently 50.56%.

Analyst Ratings Changes

Several analysts have commented on TGT shares. Citigroup lowered their price target on Target from $133.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. Telsey Advisory Group lowered their price target on Target from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Stifel Nicolaus lowered their price target on Target from $145.00 to $130.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Target in a report on Wednesday, March 5th. Finally, Wells Fargo & Company decreased their target price on Target from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Target currently has an average rating of “Hold” and an average price target of $145.87.

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.