Ballentine Partners LLC Lowers Stock Position in Target Co. (NYSE:TGT)

Ballentine Partners LLC lowered its position in shares of Target Co. (NYSE:TGT) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,359 shares of the retailer’s stock after selling 231 shares during the quarter. Ballentine Partners LLC’s holdings in Target were worth $1,536,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cynosure Group LLC raised its position in shares of Target by 4.3% in the 3rd quarter. Cynosure Group LLC now owns 1,590 shares of the retailer’s stock worth $248,000 after purchasing an additional 65 shares during the last quarter. Financial Advocates Investment Management raised its position in shares of Target by 1.2% in the 3rd quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock worth $894,000 after purchasing an additional 67 shares during the last quarter. Hancock Whitney Corp raised its position in shares of Target by 3.3% in the 3rd quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock worth $336,000 after purchasing an additional 68 shares during the last quarter. Trust Co. of Vermont raised its position in shares of Target by 0.4% in the 3rd quarter. Trust Co. of Vermont now owns 15,678 shares of the retailer’s stock worth $2,444,000 after purchasing an additional 69 shares during the last quarter. Finally, Eagle Bluffs Wealth Management LLC raised its position in shares of Target by 1.1% in the 3rd quarter. Eagle Bluffs Wealth Management LLC now owns 6,818 shares of the retailer’s stock worth $1,063,000 after purchasing an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Up 2.7 %

NYSE TGT opened at $137.28 on Wednesday. The stock’s 50 day moving average is $135.74 and its 200 day moving average is $145.07. 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 $120.21 and a 12 month high of $181.86. The stock has a market cap of $62.90 billion, a PE ratio of 14.56, a P/E/G ratio of 2.19 and a beta of 1.16.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $25.23 billion during the quarter, compared to analysts’ expectations of $25.87 billion. During the same period in the prior year, the firm posted $2.10 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Research analysts predict that Target Co. will post 8.62 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be issued a $1.12 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a yield of 3.26%. Target’s dividend payout ratio is presently 47.51%.

Analyst Ratings Changes

TGT has been the subject of several recent analyst reports. TD Cowen lowered their price target on Target from $165.00 to $145.00 and set a “hold” rating for the company in a research report on Thursday, November 21st. Guggenheim reduced their price objective on Target from $180.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, November 21st. HSBC downgraded Target from a “buy” rating to a “hold” rating and set a $138.00 price objective for the company. in a report on Wednesday, November 20th. BMO Capital Markets reduced their price objective on Target from $160.00 to $120.00 and set a “market perform” rating for the company in a report on Thursday, November 21st. Finally, Daiwa America downgraded Target from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Target has a consensus rating of “Hold” and an average price target of $158.23.

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.