SRS Capital Advisors Inc. Lowers Stock Holdings in Target Co. (NYSE:TGT)

SRS Capital Advisors Inc. reduced its stake in Target Co. (NYSE:TGT) by 29.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 791 shares of the retailer’s stock after selling 332 shares during the period. SRS Capital Advisors Inc.’s holdings in Target were worth $107,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TGT. State Street Corp grew its stake in Target by 8.3% in the third quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock worth $5,530,576,000 after purchasing an additional 2,732,801 shares in the last quarter. FMR LLC lifted its holdings in shares of Target by 11.7% in the 3rd quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock worth $1,555,542,000 after buying an additional 1,046,044 shares during the period. Geode Capital Management LLC grew its position in shares of Target by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,414,025 shares of the retailer’s stock worth $1,461,456,000 after buying an additional 130,691 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Target by 6.5% during the fourth quarter. Bank of New York Mellon Corp now owns 3,832,585 shares of the retailer’s stock valued at $518,089,000 after buying an additional 234,409 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Target by 1.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,321,055 shares of the retailer’s stock valued at $517,620,000 after acquiring an additional 62,916 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TGT. Sanford C. Bernstein increased their target price on shares of Target from $139.00 to $142.00 and gave the stock a “market perform” rating in a report on Tuesday, January 28th. TD Cowen dropped their price objective on shares of Target from $165.00 to $145.00 and set a “hold” rating on the stock in a research note on Thursday, November 21st. Piper Sandler reduced their price objective on shares of Target from $132.00 to $124.00 and set a “neutral” rating for the company in a research note on Wednesday. Oppenheimer reaffirmed an “outperform” rating and set a $165.00 target price on shares of Target in a research report on Monday, November 25th. Finally, StockNews.com downgraded Target from a “buy” rating to a “hold” rating in a report on Monday. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Target currently has an average rating of “Hold” and a consensus target price of $148.23.

Target Trading Down 0.4 %

Target stock opened at $116.70 on Thursday. Target Co. has a 52 week low of $112.53 and a 52 week high of $181.86. The stock has a 50-day moving average price of $132.91 and a 200 day moving average price of $141.92. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $53.47 billion, a price-to-earnings ratio of 12.38, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18.

Target (NYSE:TGT) last announced its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, beating the consensus estimate of $2.24 by $0.17. The business had revenue of $30.92 billion during the quarter, compared to analysts’ expectations of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Sell-side analysts anticipate that Target Co. will post 8.69 EPS for the current year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th were given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend was Wednesday, February 12th. Target’s dividend payout ratio is currently 50.56%.

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.