Keybank National Association OH Trims Position in Target Co. (NYSE:TGT)

Keybank National Association OH decreased its holdings in shares of Target Co. (NYSE:TGT) by 3.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 186,789 shares of the retailer’s stock after selling 6,979 shares during the quarter. Keybank National Association OH’s holdings in Target were worth $25,250,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TGT. State Street Corp lifted its position in Target by 8.3% during the 3rd quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock worth $5,530,576,000 after acquiring an additional 2,732,801 shares during the period. FMR LLC raised its stake in shares of Target by 11.7% during the third quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock worth $1,555,542,000 after purchasing an additional 1,046,044 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Target by 1.4% during the third quarter. Geode Capital Management LLC now owns 9,414,025 shares of the retailer’s stock worth $1,461,456,000 after purchasing an additional 130,691 shares during the period. Bank of New York Mellon Corp grew its position in Target by 6.5% in the 4th quarter. Bank of New York Mellon Corp now owns 3,832,585 shares of the retailer’s stock valued at $518,089,000 after buying an additional 234,409 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Target by 1.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,321,055 shares of the retailer’s stock valued at $517,620,000 after buying an additional 62,916 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Price Performance

TGT opened at $117.05 on Wednesday. Target Co. has a twelve month low of $112.53 and a twelve month high of $181.86. The firm has a market cap of $53.63 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 1.94 and a beta of 1.15. 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 fifty day simple moving average of $133.23 and a 200 day simple moving average of $142.09.

Target (NYSE:TGT) last announced its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, beating 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 company had revenue of $30.92 billion during the quarter, compared to the consensus estimate of $30.83 billion. Equities research analysts expect that Target Co. will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th were given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend was Wednesday, February 12th. Target’s payout ratio is 47.51%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Daiwa Capital Markets downgraded Target from an “outperform” rating to a “neutral” rating and cut their price target for the company from $170.00 to $130.00 in a report on Tuesday, November 26th. Truist Financial upped their target price on Target from $129.00 to $134.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Sanford C. Bernstein increased their target price on Target from $139.00 to $142.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 28th. HSBC cut Target from a “buy” rating to a “hold” rating and set a $138.00 price target for the company. in a report on Wednesday, November 20th. Finally, Evercore ISI cut their price objective on shares of Target from $165.00 to $130.00 and set an “in-line” rating on the stock in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $156.43.

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.