Institute for Wealth Management LLC. Sells 746 Shares of Target Co. (NYSE:TGT)

Institute for Wealth Management LLC. trimmed its position in shares of Target Co. (NYSE:TGT) by 19.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,175 shares of the retailer’s stock after selling 746 shares during the period. Institute for Wealth Management LLC.’s holdings in Target were worth $429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of TGT. State Street Corp raised its stake in Target by 8.3% during the third quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock valued at $5,530,576,000 after purchasing an additional 2,732,801 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Target by 9,940.6% during the 3rd quarter. International Assets Investment Management LLC now owns 2,001,391 shares of the retailer’s stock valued at $311,937,000 after buying an additional 1,981,458 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Target by 173.2% in the 3rd quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock valued at $369,295,000 after acquiring an additional 1,502,200 shares during the last quarter. FMR LLC lifted its holdings in shares of Target by 11.7% in the 3rd 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 last quarter. Finally, Worldquant Millennium Advisors LLC grew its position in Target by 773.1% in the third quarter. Worldquant Millennium Advisors LLC now owns 832,766 shares of the retailer’s stock worth $129,795,000 after acquiring an additional 737,384 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Target Price Performance

Shares of TGT stock opened at $137.82 on Friday. The stock’s 50-day moving average is $134.54 and its 200 day moving average is $144.58. Target Co. has a 1-year low of $120.21 and a 1-year high of $181.86. 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 company has a market cap of $63.15 billion, a P/E ratio of 14.61, a PEG ratio of 2.28 and a beta of 1.16.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a return on equity of 31.11% and a net margin of 4.06%. The firm had revenue of $25.23 billion during the quarter, compared to analysts’ expectations of $25.87 billion. During the same period in the previous year, the firm earned $2.10 EPS. The firm’s quarterly revenue was up .9% on a year-over-year basis. Research analysts predict that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be given a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.25%. Target’s payout ratio is 47.51%.

Wall Street Analyst Weigh In

TGT has been the topic of a number of recent research reports. Piper Sandler lowered their price objective on Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research note on Thursday, November 21st. Oppenheimer restated an “outperform” rating and issued a $165.00 price target on shares of Target in a research report on Monday, November 25th. Roth Mkm cut their price objective on shares of Target from $157.00 to $131.00 and set a “neutral” rating on the stock in a research report on Thursday, November 21st. Truist Financial raised their target price on shares of Target from $129.00 to $134.00 and gave the stock a “hold” rating in a report on Friday, January 17th. Finally, HSBC downgraded shares of Target from a “buy” rating to a “hold” rating and set a $138.00 price target on the stock. in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target 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.