Gallacher Capital Management LLC Decreases Stake in Target Co. (NYSE:TGT)

Gallacher Capital Management LLC decreased its holdings in Target Co. (NYSE:TGT) by 17.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,051 shares of the retailer’s stock after selling 883 shares during the period. Gallacher Capital Management LLC’s holdings in Target were worth $548,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in Target in the 3rd quarter valued at approximately $28,000. Hopwood Financial Services Inc. purchased a new position in shares of Target in the fourth quarter valued at $29,000. MCF Advisors LLC grew its position in shares of Target by 175.3% in the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after purchasing an additional 163 shares in the last quarter. Raleigh Capital Management Inc. grew its position in shares of Target by 110.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock valued at $35,000 after purchasing an additional 135 shares in the last quarter. Finally, FSA Wealth Management LLC purchased a new position in shares of Target in the third quarter valued at $36,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TGT shares. Bank of America reduced their target price on Target from $160.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Gordon Haskett cut shares of Target from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft cut shares of Target from a “buy” rating to a “hold” rating and reduced their price objective for the company from $184.00 to $108.00 in a research note on Wednesday, November 20th. Truist Financial reduced their price target on shares of Target from $134.00 to $124.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. Finally, Hsbc Global Res lowered shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Target presently has an average rating of “Hold” and an average price target of $145.87.

Target Price Performance

Shares of Target stock opened at $104.71 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. Target Co. has a one year low of $103.46 and a one year high of $181.86. The business’s 50 day simple moving average is $129.35 and its two-hundred day simple moving average is $139.75. The stock has a market capitalization of $47.70 billion, a P/E ratio of 11.10, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18.

Target (NYSE:TGT) last issued its earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, topping the consensus estimate of $2.24 by $0.17. The company had revenue of $30.92 billion for the quarter, compared to the consensus estimate of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Analysts forecast that Target Co. will post 8.69 EPS for the current year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s payout ratio is 50.56%.

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.