Premier Path Wealth Partners LLC Reduces Stake in Target Co. (NYSE:TGT)

Premier Path Wealth Partners LLC cut its stake in shares of Target Co. (NYSE:TGT) by 11.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,168 shares of the retailer’s stock after selling 394 shares during the period. Premier Path Wealth Partners LLC’s holdings in Target were worth $428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. State Street Corp raised its holdings in Target by 8.3% during the 3rd quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock valued at $5,530,576,000 after buying an additional 2,732,801 shares during the period. FMR LLC raised its stake in shares of Target by 11.7% in the third quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock valued at $1,555,542,000 after acquiring an additional 1,046,044 shares during the period. Geode Capital Management LLC raised its stake in shares of Target by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,414,025 shares of the retailer’s stock valued at $1,461,456,000 after acquiring an additional 130,691 shares during the period. Legal & General Group Plc lifted its holdings in shares of Target by 6.8% in the 2nd quarter. Legal & General Group Plc now owns 4,374,851 shares of the retailer’s stock worth $647,652,000 after acquiring an additional 279,656 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Target by 1.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,321,055 shares of the retailer’s stock worth $517,620,000 after purchasing an additional 62,916 shares during the period. 79.73% of the stock is owned by institutional investors.

Target Trading Up 0.3 %

Shares of NYSE:TGT opened at $133.62 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The firm has a market capitalization of $61.22 billion, a P/E ratio of 14.17, a P/E/G ratio of 2.32 and a beta of 1.16. The business’s 50-day moving average is $136.13 and its 200 day moving average is $145.14. Target Co. has a 1 year low of $120.21 and a 1 year high of $181.86.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.45). The company had revenue of $25.23 billion during the quarter, compared to analysts’ expectations of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.10 earnings per share. On average, research analysts predict that Target Co. will post 8.6 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Wednesday, February 12th. Target’s payout ratio is 47.51%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TGT shares. HSBC downgraded shares of Target from a “buy” rating to a “hold” rating and set a $138.00 price objective for the company. in a research note on Wednesday, November 20th. Daiwa Capital Markets lowered Target from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $170.00 to $130.00 in a research note on Tuesday, November 26th. StockNews.com raised Target from a “hold” rating to a “buy” rating in a research report on Friday. Stifel Nicolaus boosted their target price on shares of Target from $137.00 to $145.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. Finally, Truist Financial raised their price target on shares of Target from $129.00 to $134.00 and gave the stock a “hold” rating in a research note on Friday. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $158.23.

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.