First National Advisers LLC Cuts Holdings in Target Co. (NYSE:TGT)

First National Advisers LLC decreased its position in shares of Target Co. (NYSE:TGT) by 9.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,120 shares of the retailer’s stock after selling 996 shares during the period. First National Advisers LLC’s holdings in Target were worth $1,233,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new position in shares of Target during the third quarter valued at about $28,000. Hopwood Financial Services Inc. purchased a new position in Target in the fourth quarter worth about $29,000. MCF Advisors LLC grew its position in Target by 175.3% in the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after acquiring an additional 163 shares in the last quarter. Raleigh Capital Management Inc. grew its position in Target by 110.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after acquiring an additional 135 shares in the last quarter. Finally, FSA Wealth Management LLC purchased a new position in Target in the third quarter worth about $36,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Performance

Shares of TGT stock opened at $104.71 on Monday. The firm has a market cap of $47.70 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 1.94 and a beta of 1.18. The company’s 50 day moving average is $129.35 and its 200 day moving average is $139.63. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. Target Co. has a 52-week low of $103.46 and a 52-week high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.17. Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. On average, sell-side analysts anticipate that Target Co. will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s dividend payout ratio is currently 50.56%.

Wall Street Analyst Weigh In

Several research firms recently commented on TGT. BMO Capital Markets dropped their price target on Target from $160.00 to $120.00 and set a “market perform” rating for the company in a research report on Thursday, November 21st. The Goldman Sachs Group dropped their price target on Target from $166.00 to $142.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Wells Fargo & Company dropped their price target on Target from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. TD Cowen dropped their price target on Target from $165.00 to $145.00 and set a “hold” rating for the company in a research report on Thursday, November 21st. Finally, Gordon Haskett downgraded shares of Target from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $145.87.

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.