Cornercap Investment Counsel Inc. Trims Stake in Target Co. (NYSE:TGT)

Cornercap Investment Counsel Inc. lessened its holdings in shares of Target Co. (NYSE:TGT) by 4.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 9,982 shares of the retailer’s stock after selling 451 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Target were worth $1,349,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Legacy Investment Solutions LLC bought a new stake in shares of Target during the third quarter worth $28,000. Hopwood Financial Services Inc. purchased a new position in shares of Target during the fourth quarter worth approximately $29,000. MCF Advisors LLC lifted its holdings in Target by 175.3% during the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after buying an additional 163 shares during the period. Raleigh Capital Management Inc. grew its holdings in Target by 110.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after purchasing an additional 135 shares during the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in shares of Target during the third quarter valued at $36,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Stock Performance

TGT stock opened at $103.63 on Friday. Target Co. has a 52 week low of $101.76 and a 52 week high of $181.86. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The stock has a market cap of $47.21 billion, a P/E ratio of 10.99, a P/E/G ratio of 1.94 and a beta of 1.18. The firm has a 50 day simple moving average of $122.96 and a 200 day simple moving average of $136.54.

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

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date is Wednesday, May 14th. Target’s dividend payout ratio is presently 50.56%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on TGT shares. Roth Capital set a $122.00 target price on shares of Target in a report on Wednesday, March 5th. Evercore ISI reduced their price target on Target from $135.00 to $130.00 and set an “in-line” rating for the company in a report on Wednesday, March 5th. Guggenheim increased their target price on Target from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. decreased their price target on shares of Target from $146.00 to $140.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. Finally, Piper Sandler reduced their price objective on Target from $132.00 to $124.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $143.40.

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.