Sawgrass Asset Management LLC Cuts Holdings in Target Co. (NYSE:TGT)

Sawgrass Asset Management LLC reduced its position in Target Co. (NYSE:TGT) by 5.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,432 shares of the retailer’s stock after selling 821 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Target were worth $1,816,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new position in Target in the third quarter valued at about $28,000. Wolff Wiese Magana LLC grew its stake in shares of Target by 156.5% during the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after acquiring an additional 133 shares in the last quarter. MCF Advisors LLC grew its stake in shares of Target by 175.3% during the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after acquiring an additional 163 shares in the last quarter. Raleigh Capital Management Inc. grew its stake in shares of Target by 110.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock valued at $35,000 after acquiring an additional 135 shares in the last quarter. Finally, FSA Wealth Management LLC acquired a new stake in shares of Target during the third quarter valued at about $36,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Down 3.7 %

Shares of TGT opened at $127.50 on Thursday. The company has a 50-day simple moving average of $135.26 and a 200-day simple moving average of $143.56. The firm has a market capitalization of $58.42 billion, a P/E ratio of 13.52, a P/E/G ratio of 2.04 and a beta of 1.15. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. Target Co. has a 52 week low of $120.21 and a 52 week high of $181.86.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The company had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the company posted $2.10 EPS. On average, equities research analysts expect that Target Co. will post 8.69 earnings per share for the current year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a yield of 3.51%. Target’s payout ratio is currently 47.51%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Guggenheim raised their target price on Target from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Bank of America decreased their price target on Target from $195.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Citigroup lifted their price target on Target from $130.00 to $133.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Daiwa America downgraded Target from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Finally, Piper Sandler decreased their target price on Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $157.70.

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.