OLD National Bancorp IN Reduces Position in Target Co. (NYSE:TGT)

OLD National Bancorp IN cut its position in Target Co. (NYSE:TGT) by 9.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,877 shares of the retailer’s stock after selling 8,328 shares during the period. OLD National Bancorp IN’s holdings in Target were worth $11,068,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Legacy Investment Solutions LLC acquired a new position in shares of Target in the 3rd quarter valued at $28,000. Wolff Wiese Magana LLC boosted its holdings in shares of Target by 156.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after buying an additional 133 shares in the last quarter. FSA Wealth Management LLC acquired a new position in shares of Target in the 3rd quarter valued at $36,000. Catalyst Capital Advisors LLC acquired a new position in shares of Target in the 3rd quarter valued at $38,000. Finally, MCF Advisors LLC boosted its holdings in shares of Target by 175.3% in the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after buying an additional 163 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Performance

Shares of NYSE TGT opened at $140.28 on Thursday. The company has a market cap of $64.28 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 2.21 and a beta of 1.16. Target Co. has a 12 month low of $120.21 and a 12 month high of $181.86. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The company has a 50-day simple moving average of $133.80 and a 200-day simple moving average of $144.64.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The firm had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.10 earnings per share. On average, equities analysts anticipate that Target Co. will post 8.68 earnings per share for the current year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be given a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $4.48 annualized dividend and a dividend yield of 3.19%. Target’s dividend payout ratio is presently 47.51%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TGT. Daiwa Capital Markets cut shares of Target from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $170.00 to $130.00 in a report on Tuesday, November 26th. Hsbc Global Res cut shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. TD Cowen decreased 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. Piper Sandler decreased their price target on shares of Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research note on Thursday, November 21st. Finally, Truist Financial raised their target price on shares of Target from $129.00 to $134.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Target presently has an average rating of “Hold” and an average target price of $157.70.

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.