Cambridge Advisors Inc. Cuts Holdings in Target Co. (NYSE:TGT)

Cambridge Advisors Inc. reduced its position in Target Co. (NYSE:TGT) by 8.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,150 shares of the retailer’s stock after selling 300 shares during the period. Cambridge Advisors Inc.’s holdings in Target were worth $426,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TGT. State Street Corp increased its holdings in shares of Target by 8.3% in the 3rd quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock worth $5,530,576,000 after buying an additional 2,732,801 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Target by 9,940.6% in the 3rd quarter. International Assets Investment Management LLC now owns 2,001,391 shares of the retailer’s stock valued at $311,937,000 after acquiring an additional 1,981,458 shares during the last quarter. Two Sigma Advisers LP grew its position in Target by 173.2% in the third quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock worth $369,295,000 after acquiring an additional 1,502,200 shares in the last quarter. FMR LLC increased its stake in Target by 11.7% during the third quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock worth $1,555,542,000 after acquiring an additional 1,046,044 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in Target by 711.2% during the second quarter. AQR Capital Management LLC now owns 876,531 shares of the retailer’s stock valued at $129,762,000 after purchasing an additional 768,479 shares during the period. 79.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Piper Sandler decreased their price target on Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a report on Thursday, November 21st. Wells Fargo & Company lowered their target price on shares of Target from $180.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. TD Cowen dropped their price target on shares of Target from $165.00 to $145.00 and set a “hold” rating for the company in a research note on Thursday, November 21st. Evercore ISI reduced their price objective on shares of Target from $165.00 to $130.00 and set an “in-line” rating on the stock in a research report on Thursday, November 21st. Finally, Guggenheim cut their target price on Target from $180.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Target has a consensus rating of “Hold” and a consensus price target of $158.23.

Target Price Performance

NYSE TGT opened at $133.62 on Friday. Target Co. has a 12-month low of $120.21 and a 12-month high of $181.86. The firm’s fifty day simple moving average is $136.13 and its two-hundred day simple moving average is $145.14. 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 firm has a market capitalization of $61.22 billion, a P/E ratio of 14.17, a P/E/G ratio of 2.32 and a beta of 1.16.

Target (NYSE:TGT) last announced its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (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 business had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. During the same period in the prior year, the company earned $2.10 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. Analysts forecast that Target Co. will post 8.6 EPS for the current fiscal year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.35%. The ex-dividend date is Wednesday, February 12th. Target’s dividend payout ratio is presently 47.51%.

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.