Ellevest Inc. Reduces Stock Holdings in Target Co. (NYSE:TGT)

Ellevest Inc. reduced its stake in shares of Target Co. (NYSE:TGT) by 10.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,983 shares of the retailer’s stock after selling 342 shares during the quarter. Ellevest Inc.’s holdings in Target were worth $403,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TGT. Norges Bank purchased a new position in shares of Target during the fourth quarter valued at about $757,892,000. Raymond James Financial Inc. purchased a new position in shares of Target during the 4th quarter worth approximately $297,122,000. Ameriprise Financial Inc. raised its position in shares of Target by 61.2% in the 4th quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer’s stock worth $536,407,000 after acquiring an additional 1,506,275 shares in the last quarter. FMR LLC lifted its stake in shares of Target by 13.6% in the 4th quarter. FMR LLC now owns 11,338,729 shares of the retailer’s stock valued at $1,532,769,000 after purchasing an additional 1,358,348 shares during the period. Finally, Castlekeep Investment Advisors LLC bought a new stake in shares of Target during the fourth quarter valued at approximately $182,882,000. 79.73% of the stock is currently owned by institutional investors.

Target Stock Performance

TGT opened at $96.39 on Friday. The company’s 50 day moving average is $99.88 and its 200 day moving average is $123.80. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The company has a market cap of $43.80 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 1.94 and a beta of 1.27. Target Co. has a 12-month low of $87.35 and a 12-month high of $167.40.

Target (NYSE:TGT) last released its quarterly 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. Target had a net margin of 4.06% and a return on equity of 31.11%. The business had revenue of $30.92 billion for the quarter, compared to the consensus estimate of $30.83 billion. On average, equities research analysts predict that Target Co. will post 8.69 EPS for the current year.

Target Dividend Announcement

The business 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 dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 4.65%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s dividend payout ratio is presently 50.56%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TGT shares. Roth Mkm reissued a “neutral” rating and set a $122.00 price objective (down previously from $131.00) on shares of Target in a research report on Wednesday, March 5th. Roth Capital set a $122.00 price objective on shares of Target in a research note on Wednesday, March 5th. UBS Group decreased their target price on shares of Target from $170.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Mizuho initiated coverage on Target in a research report on Friday, April 11th. They issued a “neutral” rating and a $92.00 price target on the stock. Finally, The Goldman Sachs Group cut Target from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $142.00 to $101.00 in a research note on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $131.20.

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.