Callan Capital LLC Decreases Holdings in Target Co. (NYSE:TGT)

Callan Capital LLC cut its holdings in shares of Target Co. (NYSE:TGT) by 18.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,022 shares of the retailer’s stock after selling 452 shares during the quarter. Callan Capital LLC’s holdings in Target were worth $273,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TGT. State Street Corp increased its position in shares of 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 purchasing an additional 2,732,801 shares during the last quarter. Two Sigma Advisers LP increased its position in shares of Target by 173.2% during the 3rd quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock valued at $369,295,000 after purchasing an additional 1,502,200 shares during the last quarter. FMR LLC increased its position in shares of Target by 11.7% during the 3rd quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock valued at $1,555,542,000 after purchasing an additional 1,046,044 shares during the last quarter. Worldquant Millennium Advisors LLC increased its position in shares of Target by 773.1% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 832,766 shares of the retailer’s stock valued at $129,795,000 after purchasing an additional 737,384 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of Target during the 3rd quarter valued at $106,493,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TGT shares. BMO Capital Markets lowered their price objective on Target from $160.00 to $120.00 and set a “market perform” rating on the stock in a research note on Thursday, November 21st. Truist Financial boosted their price objective on Target from $129.00 to $134.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Evercore ISI lowered their price objective on Target from $165.00 to $130.00 and set an “in-line” rating on the stock in a research note on Thursday, November 21st. JPMorgan Chase & Co. lowered their price objective on Target from $167.00 to $139.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. Finally, Daiwa Capital Markets cut Target from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $170.00 to $130.00 in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $157.70.

Target Stock Performance

NYSE:TGT opened at $124.40 on Friday. The business has a 50 day moving average of $134.41 and a 200 day moving average of $142.74. The company has a market capitalization of $57.00 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.94 and a beta of 1.15. 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.

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

Target Dividend Announcement

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. The ex-dividend date is Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a yield of 3.60%. Target’s payout ratio is 47.51%.

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.