Waycross Partners LLC Cuts Stock Holdings in Target Corporation $TGT

Waycross Partners LLC cut its stake in shares of Target Corporation (NYSE:TGT) by 10.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 153,912 shares of the retailer’s stock after selling 18,645 shares during the quarter. Target makes up 1.2% of Waycross Partners LLC’s holdings, making the stock its 28th biggest holding. Waycross Partners LLC’s holdings in Target were worth $13,806,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC increased its stake in Target by 101.3% during the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock worth $822,000 after acquiring an additional 3,059 shares during the last quarter. Woodline Partners LP grew its holdings in shares of Target by 39.9% during the 1st quarter. Woodline Partners LP now owns 38,712 shares of the retailer’s stock worth $4,040,000 after purchasing an additional 11,047 shares during the period. Balboa Wealth Partners increased its position in Target by 23.9% during the 2nd quarter. Balboa Wealth Partners now owns 3,779 shares of the retailer’s stock worth $373,000 after purchasing an additional 729 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Target by 26.4% in the second quarter. DekaBank Deutsche Girozentrale now owns 292,694 shares of the retailer’s stock valued at $29,426,000 after buying an additional 61,074 shares during the period. Finally, Probity Advisors Inc. lifted its position in Target by 29.9% during the second quarter. Probity Advisors Inc. now owns 12,489 shares of the retailer’s stock valued at $1,232,000 after buying an additional 2,876 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Piper Sandler reissued a “neutral” rating and issued a $85.00 price objective (down previously from $94.00) on shares of Target in a research report on Thursday, November 20th. Deutsche Bank Aktiengesellschaft set a $108.00 price target on shares of Target in a research report on Thursday, January 8th. Bank of America cut their price objective on Target from $93.00 to $80.00 and set an “underperform” rating on the stock in a research report on Thursday, November 20th. Mizuho decreased their target price on Target from $94.00 to $88.00 and set a “neutral” rating for the company in a research report on Thursday, November 20th. Finally, Citigroup increased their target price on Target from $89.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, February 12th. Ten analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $104.45.

Target Trading Up 0.6%

Shares of TGT opened at $116.45 on Wednesday. The company has a market capitalization of $52.73 billion, a P/E ratio of 14.13, a P/E/G ratio of 11.83 and a beta of 1.14. Target Corporation has a one year low of $83.44 and a one year high of $131.70. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.27 and a current ratio of 0.97. The stock has a 50-day moving average price of $104.91 and a 200 day moving average price of $97.10.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, November 19th. The retailer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.07. Target had a return on equity of 22.74% and a net margin of 3.58%.The company had revenue of $25.27 billion for the quarter, compared to the consensus estimate of $25.44 billion. During the same period in the previous year, the business earned $1.85 EPS. Target’s revenue for the quarter was down 1.6% compared to the same quarter last year. Sell-side analysts forecast that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Wednesday, February 11th will be paid a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Wednesday, February 11th. Target’s payout ratio is 55.34%.

Target Profile

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.