Maryland State Retirement & Pension System Cuts Position in Target Co. (NYSE:TGT)

Maryland State Retirement & Pension System trimmed its position in shares of Target Co. (NYSE:TGT) by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,711 shares of the retailer’s stock after selling 1,733 shares during the period. Maryland State Retirement & Pension System’s holdings in Target were worth $3,340,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TGT. Trillium Asset Management LLC boosted its holdings in shares of Target by 4.6% in the fourth quarter. Trillium Asset Management LLC now owns 313,231 shares of the retailer’s stock valued at $42,343,000 after acquiring an additional 13,890 shares during the period. Enhancing Capital LLC acquired a new stake in shares of Target in the fourth quarter valued at approximately $230,000. Xponance Inc. boosted its holdings in shares of Target by 3.9% in the fourth quarter. Xponance Inc. now owns 71,447 shares of the retailer’s stock valued at $9,658,000 after acquiring an additional 2,677 shares during the period. Generali Asset Management SPA SGR acquired a new stake in shares of Target in the fourth quarter valued at approximately $9,896,000. Finally, Evoke Wealth LLC boosted its holdings in shares of Target by 69.1% in the fourth quarter. Evoke Wealth LLC now owns 4,592 shares of the retailer’s stock valued at $621,000 after acquiring an additional 1,876 shares during the period. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Stock Down 0.7 %

Shares of Target stock opened at $104.19 on Friday. 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 12 month low of $103.46 and a 12 month high of $181.86. The business has a fifty day simple moving average of $126.64 and a 200 day simple moving average of $138.47. The stock has a market cap of $47.47 billion, a PE ratio of 11.05, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18.

Target (NYSE:TGT) last posted its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.17. The firm had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Research analysts predict that Target Co. will post 8.69 EPS for the current year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s dividend payout ratio (DPR) is presently 50.56%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TGT shares. The Goldman Sachs Group decreased their price objective on Target from $166.00 to $142.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Oppenheimer decreased their price target on Target from $165.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Bank of America lowered their price objective on shares of Target from $160.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Evercore ISI lowered their price objective on shares of Target from $135.00 to $130.00 and set an “in-line” rating on the stock in a research report on Wednesday, March 5th. Finally, KGI Securities set a $132.00 price objective on shares of Target in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $145.55.

Target 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.