Oppenheimer Asset Management Inc. Lowers Stock Position in Target Co. (NYSE:TGT)

Oppenheimer Asset Management Inc. cut its stake in shares of Target Co. (NYSE:TGT) by 10.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,471 shares of the retailer’s stock after selling 9,979 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Target were worth $11,148,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kovack Advisors Inc. raised its position in Target by 14.8% in the fourth quarter. Kovack Advisors Inc. now owns 4,116 shares of the retailer’s stock valued at $556,000 after purchasing an additional 531 shares during the period. Mn Services Vermogensbeheer B.V. grew its stake in shares of Target by 2.0% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 181,500 shares of the retailer’s stock valued at $24,535,000 after buying an additional 3,600 shares in the last quarter. Whipplewood Advisors LLC purchased a new stake in shares of Target in the 4th quarter valued at $90,000. Simmons Bank raised its holdings in shares of Target by 8.6% in the 4th quarter. Simmons Bank now owns 1,836 shares of the retailer’s stock valued at $248,000 after buying an additional 145 shares during the period. Finally, Checchi Capital Advisers LLC lifted its stake in Target by 14.6% during the 4th quarter. Checchi Capital Advisers LLC now owns 6,525 shares of the retailer’s stock worth $882,000 after acquiring an additional 833 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on TGT. Roth Mkm dropped their target price on Target from $157.00 to $131.00 and set a “neutral” rating for the company in a research report on Thursday, November 21st. Citigroup lifted their price objective on shares of Target from $130.00 to $133.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Piper Sandler reduced their target price on shares of Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a report on Thursday, November 21st. StockNews.com upgraded shares of Target from a “hold” rating to a “buy” rating in a research note on Saturday, February 22nd. Finally, Evercore ISI cut their price objective on Target from $165.00 to $130.00 and set an “in-line” rating on the stock in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $157.93.

Target Stock Performance

NYSE TGT opened at $122.80 on Friday. The company has a fifty day moving average of $133.91 and a two-hundred day moving average of $142.42. The company has a market capitalization of $56.27 billion, a PE ratio of 13.02, a P/E/G ratio of 1.94 and a beta of 1.15. Target Co. has a 1 year low of $120.21 and a 1 year 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.

Target Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th will be paid a $1.12 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a yield of 3.65%. Target’s dividend payout ratio is presently 47.51%.

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.