KCM Investment Advisors LLC Decreases Stake in Target Co. (NYSE:TGT)

KCM Investment Advisors LLC lessened its stake in shares of Target Co. (NYSE:TGT) by 6.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,102 shares of the retailer’s stock after selling 975 shares during the quarter. KCM Investment Advisors LLC’s holdings in Target were worth $1,771,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Resona Asset Management Co. Ltd. purchased a new stake in Target during the 4th quarter valued at $20,840,000. Savoir Faire Capital Management L.P. raised its stake in shares of Target by 78.1% during the fourth quarter. Savoir Faire Capital Management L.P. now owns 66,033 shares of the retailer’s stock valued at $8,926,000 after acquiring an additional 28,951 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in shares of Target during the fourth quarter worth about $839,000. Pitcairn Co. grew its stake in shares of Target by 13.4% in the fourth quarter. Pitcairn Co. now owns 6,847 shares of the retailer’s stock worth $926,000 after purchasing an additional 807 shares during the last quarter. Finally, Arete Wealth Advisors LLC purchased a new position in Target during the 4th quarter valued at about $378,000. Institutional investors own 79.73% of the company’s stock.

Target Trading Up 1.5 %

Shares of NYSE:TGT opened at $95.70 on Friday. Target Co. has a 1 year low of $90.62 and a 1 year high of $173.05. The stock’s fifty day moving average price is $119.41 and its 200-day moving average price is $134.73. The company has a market cap of $43.60 billion, a P/E ratio of 10.15, a PEG ratio of 1.94 and a beta of 1.28. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25.

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 net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $30.92 billion for the quarter, compared to the consensus estimate of $30.83 billion. Sell-side analysts expect that Target Co. will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a yield of 4.68%. Target’s dividend payout ratio is presently 50.56%.

Analyst Ratings Changes

TGT has been the topic of a number of recent analyst reports. Stifel Nicolaus cut their price objective on Target from $130.00 to $120.00 and set a “hold” rating on the stock in a research report on Thursday, March 20th. Telsey Advisory Group decreased their price objective on shares of Target from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Citigroup cut their target price on shares of Target from $133.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. Truist Financial decreased their price target on shares of Target from $134.00 to $124.00 and set a “hold” rating for the company in a research note on Wednesday, March 5th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Target in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Target presently has an average rating of “Hold” and a consensus target price of $140.24.

About Target

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.