SlateStone Wealth LLC Cuts Stock Position in Target Co. (NYSE:TGT)

SlateStone Wealth LLC lowered its stake in Target Co. (NYSE:TGT) by 8.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,604 shares of the retailer’s stock after selling 1,012 shares during the quarter. SlateStone Wealth LLC’s holdings in Target were worth $1,433,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in TGT. Legacy Investment Solutions LLC purchased a new stake in shares of Target in the 3rd quarter worth approximately $28,000. Hopwood Financial Services Inc. purchased a new stake in shares of Target in the 4th quarter worth approximately $29,000. MCF Advisors LLC grew its stake in shares of Target by 175.3% in the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after buying an additional 163 shares during the last quarter. Raleigh Capital Management Inc. lifted its position in Target by 110.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock valued at $35,000 after acquiring an additional 135 shares in the last quarter. Finally, FSA Wealth Management LLC bought a new position in Target in the 3rd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Analysts Set New Price Targets

TGT has been the topic of several analyst reports. Oppenheimer lowered their price objective on Target from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Piper Sandler lowered their price objective on Target from $132.00 to $124.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. StockNews.com cut Target from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. The Goldman Sachs Group lowered their price objective on Target from $166.00 to $142.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Finally, KGI Securities set a $132.00 price objective on Target in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $145.87.

Target Trading Up 0.2 %

Shares of Target stock opened at $104.71 on Monday. The firm has a market cap of $47.70 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 1.94 and a beta of 1.18. The business has a 50-day moving average price of $129.35 and a 200-day moving average price of $139.63. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. Target Co. has a twelve month low of $103.46 and a twelve month high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.17. The firm had revenue of $30.92 billion during the quarter, compared to analyst estimates of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Equities research analysts anticipate that Target Co. will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors 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 annualized dividend and a yield of 4.28%. Target’s dividend payout ratio is currently 50.56%.

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.