Stonebridge Capital Management Inc. Reduces Stake in Target Co. (NYSE:TGT)

Stonebridge Capital Management Inc. decreased its stake in shares of Target Co. (NYSE:TGT) by 11.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,000 shares of the retailer’s stock after selling 250 shares during the period. Stonebridge Capital Management Inc.’s holdings in Target were worth $270,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in Target during the 3rd quarter worth about $28,000. Wolff Wiese Magana LLC lifted its holdings in Target by 156.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after purchasing an additional 133 shares in the last quarter. FSA Wealth Management LLC purchased a new stake in shares of Target in the 3rd quarter valued at about $36,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Target in the 3rd quarter valued at about $38,000. Finally, First Financial Corp IN raised its holdings in shares of Target by 330.8% in the 4th quarter. First Financial Corp IN now owns 280 shares of the retailer’s stock valued at $38,000 after acquiring an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Trading Down 1.4 %

Shares of TGT stock opened at $134.58 on Thursday. Target Co. has a 1 year low of $120.21 and a 1 year high of $181.86. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The stock’s 50 day simple moving average is $137.06 and its two-hundred day simple moving average is $145.39. The company has a market cap of $61.67 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 2.32 and a beta of 1.16.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. During the same quarter last year, the company earned $2.10 earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. Research analysts predict that Target Co. will post 8.6 earnings per share for the current year.

Target Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 3.33%. Target’s payout ratio is 47.51%.

Analyst Ratings Changes

Several research firms have weighed in on TGT. HSBC cut Target from a “buy” rating to a “hold” rating and set a $138.00 price target on the stock. in a report on Wednesday, November 20th. Hsbc Global Res cut Target from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 20th. BMO Capital Markets lowered 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. Stifel Nicolaus raised their price objective on Target from $137.00 to $145.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Finally, TD Cowen decreased their price objective on Target from $165.00 to $145.00 and set a “hold” rating on the stock in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Target presently has an average rating of “Hold” and an average target price of $160.57.

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.