TIAA Trust National Association Sells 2,469 Shares of Target Co. (NYSE:TGT)

TIAA Trust National Association lowered its position in Target Co. (NYSE:TGT) by 5.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,380 shares of the retailer’s stock after selling 2,469 shares during the period. TIAA Trust National Association’s holdings in Target were worth $5,729,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TGT. Legacy Investment Solutions LLC purchased a new position in shares of Target in the 3rd quarter worth about $28,000. Hopwood Financial Services Inc. purchased a new stake in shares of Target during the fourth quarter worth $29,000. MCF Advisors LLC lifted its holdings in Target by 175.3% during the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after purchasing an additional 163 shares in the last quarter. Raleigh Capital Management Inc. boosted its position 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 acquiring an additional 135 shares during the period. Finally, FSA Wealth Management LLC bought a new position in Target in the 3rd quarter valued at $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 $105.37 on Wednesday. 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 $48.00 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 1.94 and a beta of 1.18. The business’s fifty day moving average is $124.66 and its 200 day moving average is $137.30. Target Co. has a twelve month low of $101.76 and a twelve month high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings results 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 net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $30.92 billion during the quarter, compared to analyst estimates of $30.83 billion. Research analysts expect that Target Co. will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be given a $1.12 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.25%. Target’s dividend payout ratio is currently 50.56%.

Wall Street Analysts Forecast Growth

TGT has been the subject of a number of research analyst reports. Piper Sandler dropped their price target on Target from $132.00 to $124.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price target on Target from $146.00 to $140.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Wells Fargo & Company cut their price objective on Target from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. Roth Mkm reissued a “neutral” rating and set a $122.00 price objective (down from $131.00) on shares of Target in a report on Wednesday, March 5th. Finally, Stifel Nicolaus cut their target price on Target from $130.00 to $120.00 and set a “hold” rating for the company in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $145.55.

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.