Valley Wealth Managers Inc. Lowers Holdings in Target Co. (NYSE:TGT)

Valley Wealth Managers Inc. lowered its stake in shares of Target Co. (NYSE:TGT) by 19.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 90,994 shares of the retailer’s stock after selling 22,538 shares during the period. Valley Wealth Managers Inc.’s holdings in Target were worth $12,301,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new position in shares of Target during the third quarter worth $28,000. MCF Advisors LLC increased its position in shares of Target by 175.3% during the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after purchasing an additional 163 shares in the last quarter. Raleigh Capital Management Inc. increased its position in shares of Target by 110.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after purchasing an additional 135 shares in the last quarter. FSA Wealth Management LLC acquired a new position in shares of Target during the third quarter worth $36,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Target during the third quarter worth $38,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Price Performance

Shares of Target stock opened at $127.86 on Tuesday. The firm has a fifty day simple moving average of $135.11 and a 200-day simple moving average of $143.13. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. Target Co. has a 1-year low of $120.21 and a 1-year high of $181.86. The stock has a market capitalization of $58.58 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 2.04 and a beta of 1.15.

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

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Wednesday, February 12th. Target’s payout ratio is 47.51%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TGT. Piper Sandler cut their target price on Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research report on Thursday, November 21st. Daiwa America downgraded Target from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. BMO Capital Markets cut their target price on Target from $160.00 to $120.00 and set a “market perform” rating on the stock in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft downgraded Target from a “buy” rating to a “hold” rating and cut their target price for the company from $184.00 to $108.00 in a research report on Wednesday, November 20th. Finally, Guggenheim upped their target price on Target from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Target has an average rating of “Hold” and an average target price of $157.70.

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.