Hohimer Wealth Management LLC Has $2.49 Million Stock Position in Target Co. (NYSE:TGT)

Hohimer Wealth Management LLC cut its holdings in shares of Target Co. (NYSE:TGT) by 33.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,448 shares of the retailer’s stock after selling 8,662 shares during the quarter. Hohimer Wealth Management LLC’s holdings in Target were worth $2,485,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. United Services Automobile Association increased its holdings in shares of Target by 2.9% during the 3rd quarter. United Services Automobile Association now owns 44,232 shares of the retailer’s stock worth $4,891,000 after acquiring an additional 1,239 shares during the last quarter. RFG Advisory LLC bought a new stake in Target in the 4th quarter valued at $605,000. Nordea Investment Management AB boosted its stake in Target by 4.9% in the 4th quarter. Nordea Investment Management AB now owns 519,634 shares of the retailer’s stock valued at $73,819,000 after purchasing an additional 24,066 shares during the period. Asio Capital LLC boosted its stake in Target by 109.9% in the 4th quarter. Asio Capital LLC now owns 27,267 shares of the retailer’s stock valued at $3,883,000 after purchasing an additional 14,274 shares during the period. Finally, Blue Chip Partners LLC boosted its stake in Target by 5.1% in the 4th quarter. Blue Chip Partners LLC now owns 130,179 shares of the retailer’s stock valued at $18,540,000 after purchasing an additional 6,348 shares during the period. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Stock Performance

Shares of TGT traded up $0.62 on Thursday, reaching $143.89. 4,826,238 shares of the company’s stock traded hands, compared to its average volume of 3,833,605. The company has a current ratio of 0.91, a quick ratio of 0.29 and a debt-to-equity ratio of 1.11. The stock has a market cap of $66.57 billion, a PE ratio of 16.21, a PEG ratio of 1.44 and a beta of 1.16. The stock’s 50 day simple moving average is $165.70 and its two-hundred day simple moving average is $149.38. Target Co. has a 52-week low of $102.93 and a 52-week high of $181.86.

Target (NYSE:TGT) last released its earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). Target had a return on equity of 33.41% and a net margin of 3.85%. The firm had revenue of $24.14 billion during the quarter, compared to analysts’ expectations of $24.52 billion. During the same period in the prior year, the business earned $2.05 earnings per share. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, analysts forecast that Target Co. will post 9.43 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be given a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s dividend payout ratio (DPR) is presently 49.27%.

Insider Activity

In other news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction on Monday, March 11th. The stock was sold at an average price of $167.52, for a total value of $7,538,400.00. Following the completion of the transaction, the insider now directly owns 346,919 shares in the company, valued at $58,115,870.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction on Monday, March 11th. The stock was sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the completion of the sale, the insider now owns 346,919 shares of the company’s stock, valued at $58,115,870.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Melissa K. Kremer sold 3,000 shares of Target stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $165.05, for a total value of $495,150.00. Following the sale, the insider now directly owns 30,527 shares of the company’s stock, valued at approximately $5,038,481.35. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,600 shares of company stock worth $8,819,598. 0.23% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TGT shares. Deutsche Bank Aktiengesellschaft cut their target price on Target from $209.00 to $190.00 and set a “buy” rating for the company in a research report on Thursday. BMO Capital Markets cut their target price on Target from $170.00 to $155.00 and set a “market perform” rating for the company in a research report on Thursday. Tigress Financial upped their target price on Target from $180.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. TheStreet upgraded Target from a “c+” rating to a “b-” rating in a research report on Monday, March 4th. Finally, Truist Financial dropped their price objective on Target from $160.00 to $153.00 and set a “hold” rating for the company in a research report on Thursday. Ten investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $180.41.

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.