Corient Private Wealth LLC Sells 71,685 Shares of Target Co. (NYSE:TGT)

Corient Private Wealth LLC trimmed its holdings in shares of Target Co. (NYSE:TGT) by 17.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 340,347 shares of the retailer’s stock after selling 71,685 shares during the period. Corient Private Wealth LLC’s holdings in Target were worth $45,781,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Atlanta Consulting Group Advisors LLC bought a new stake in Target in the third quarter valued at approximately $267,000. Adero Partners LLC increased its stake in shares of Target by 8.2% in the third quarter. Adero Partners LLC now owns 1,715 shares of the retailer’s stock worth $267,000 after buying an additional 130 shares during the period. Claro Advisors LLC raised its holdings in Target by 85.5% during the 3rd quarter. Claro Advisors LLC now owns 4,127 shares of the retailer’s stock valued at $643,000 after buying an additional 1,902 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in Target by 1.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock valued at $4,368,000 after buying an additional 490 shares during the last quarter. Finally, Swiss National Bank boosted its position in Target by 0.5% during the 3rd quarter. Swiss National Bank now owns 1,373,200 shares of the retailer’s stock valued at $214,027,000 after buying an additional 6,200 shares during the period. 79.73% of the stock is owned by institutional investors.

Target Stock Performance

TGT stock opened at $105.61 on Tuesday. The stock’s 50 day simple moving average is $128.68 and its 200 day simple moving average is $139.29. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. 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 $48.11 billion, a PE ratio of 11.20, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18.

Target (NYSE:TGT) last announced its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $30.83 billion. As a group, research analysts forecast that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

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 issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s payout ratio is presently 50.56%.

Analysts Set New Price Targets

A number of research firms have issued reports on TGT. Roth Mkm restated a “neutral” rating and issued a $122.00 price objective (down previously from $131.00) on shares of Target in a research report on Wednesday, March 5th. Daiwa America downgraded Target from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. dropped their price objective on Target from $146.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. Daiwa Capital Markets cut Target from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $170.00 to $130.00 in a research note on Tuesday, November 26th. Finally, Hsbc Global Res lowered Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Target presently has an average rating of “Hold” and an average price target of $145.87.

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.