Evergreen Capital Management LLC Cuts Holdings in Target Co. (NYSE:TGT)

Evergreen Capital Management LLC decreased its position in Target Co. (NYSE:TGT) by 8.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,796 shares of the retailer’s stock after selling 1,056 shares during the period. Evergreen Capital Management LLC’s holdings in Target were worth $1,459,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Hopwood Financial Services Inc. purchased a new stake in shares of Target during the fourth quarter valued at approximately $29,000. Bernard Wealth Management Corp. bought a new position in Target in the 4th quarter valued at $30,000. MCF Advisors LLC increased its position in shares of Target by 175.3% during the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after purchasing an additional 163 shares during the last quarter. Raleigh Capital Management Inc. increased its position in shares of Target by 110.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock valued at $35,000 after purchasing an additional 135 shares during the last quarter. Finally, Legacy Investment Solutions LLC raised its stake in shares of Target by 47.5% during the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock worth $35,000 after purchasing an additional 85 shares during the period. Institutional investors own 79.73% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of Target from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. Guggenheim raised their price target on shares of Target from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Bank of America reduced their price objective on Target from $160.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Telsey Advisory Group lowered their target price on Target from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. Finally, Citigroup dropped their price target on Target from $120.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a sell rating, twenty-two have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Target presently has an average rating of “Hold” and an average target price of $132.37.

Target Stock Performance

Target stock opened at $93.13 on Friday. Target Co. has a fifty-two week low of $87.35 and a fifty-two week high of $169.09. The firm’s fifty day moving average price is $109.77 and its 200-day moving average price is $130.28. The stock has a market cap of $42.43 billion, a P/E ratio of 9.88, a price-to-earnings-growth ratio of 1.94 and a beta of 1.28. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94.

Target (NYSE:TGT) last issued its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. On average, equities research analysts expect that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s payout ratio is currently 50.56%.

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.