Xcel Wealth Management LLC Sells 4,670 Shares of Target Co. (NYSE:TGT)

Xcel Wealth Management LLC lessened its stake in shares of Target Co. (NYSE:TGT) by 30.5% during the 4th quarter, HoldingsChannel reports. The firm owned 10,635 shares of the retailer’s stock after selling 4,670 shares during the quarter. Xcel Wealth Management LLC’s holdings in Target were worth $1,438,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in Target during the third quarter valued at approximately $28,000. MCF Advisors LLC grew its holdings in 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 purchasing an additional 163 shares during the last quarter. Raleigh Capital Management Inc. grew its holdings in 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 purchasing an additional 135 shares during the last quarter. FSA Wealth Management LLC acquired a new position in Target during the third quarter valued at approximately $36,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Target during the third quarter valued at approximately $38,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Performance

Target stock opened at $124.37 on Friday. The stock has a 50-day simple moving average of $133.77 and a 200 day simple moving average of $142.35. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. Target Co. has a 12-month low of $120.21 and a 12-month high of $181.86. The stock has a market capitalization of $56.99 billion, a price-to-earnings ratio of 13.19, a P/E/G ratio of 1.94 and a beta of 1.15.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be issued a $1.12 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.60%. Target’s dividend payout ratio is 47.51%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Piper Sandler lowered 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 price objective on shares of Target from $180.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Daiwa America downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft downgraded shares of Target from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $184.00 to $108.00 in a research note on Wednesday, November 20th. Finally, StockNews.com raised Target from a “hold” rating to a “buy” rating in a research report on Saturday, February 22nd. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $157.93.

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.