Pinnacle Financial Partners Inc Cuts Stock Holdings in Target Co. (NYSE:TGT)

Pinnacle Financial Partners Inc trimmed its holdings in shares of Target Co. (NYSE:TGT) by 12.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,847 shares of the retailer’s stock after selling 1,268 shares during the period. Pinnacle Financial Partners Inc’s holdings in Target were worth $1,301,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TGT. Legacy Investment Solutions LLC purchased a new stake in shares of Target during the third quarter worth about $28,000. MCF Advisors LLC boosted its holdings in shares of Target by 175.3% during the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after purchasing an additional 163 shares during the period. Raleigh Capital Management Inc. boosted its holdings in shares of Target by 110.7% during 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 period. FSA Wealth Management LLC purchased a new stake in shares of Target during the third quarter worth about $36,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Target during the third quarter worth about $38,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Price Performance

Shares of TGT opened at $124.40 on Monday. The company has a market capitalization of $57.00 billion, a P/E ratio of 13.19, a price-to-earnings-growth ratio of 1.94 and a beta of 1.15. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The firm has a 50 day moving average of $134.41 and a 200 day moving average of $142.80. Target Co. has a twelve month low of $120.21 and a twelve month high of $181.86.

Target Dividend Announcement

The business also recently announced 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. This represents a $4.48 annualized dividend and a yield of 3.60%. The ex-dividend date is Wednesday, February 12th. Target’s dividend payout ratio is currently 47.51%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Sanford C. Bernstein increased their target price on shares of Target from $139.00 to $142.00 and gave the stock a “market perform” rating in a report on Tuesday, January 28th. BMO Capital Markets dropped their target price on shares of Target from $160.00 to $120.00 and set a “market perform” rating for the company in a report on Thursday, November 21st. Gordon Haskett lowered shares of Target from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Hsbc Global Res lowered shares of Target from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Citigroup raised their price objective on shares of Target from $130.00 to $133.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Target currently has a consensus rating of “Hold” and an average target price of $157.70.

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.