Central Bank & Trust Co. Decreases Stock Holdings in Target Co. (NYSE:TGT)

Central Bank & Trust Co. cut its stake in Target Co. (NYSE:TGT) by 6.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,141 shares of the retailer’s stock after selling 142 shares during the period. Central Bank & Trust Co.’s holdings in Target were worth $289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Target by 56.5% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 14,228 shares of the retailer’s stock worth $2,106,000 after acquiring an additional 5,137 shares during the period. AE Wealth Management LLC increased its position in Target by 45.4% during the second quarter. AE Wealth Management LLC now owns 9,156 shares of the retailer’s stock worth $1,356,000 after purchasing an additional 2,860 shares during the last quarter. Pacer Advisors Inc. raised its stake in Target by 15.4% during the second quarter. Pacer Advisors Inc. now owns 36,052 shares of the retailer’s stock worth $5,337,000 after purchasing an additional 4,811 shares during the period. Thrivent Financial for Lutherans boosted its holdings in Target by 39.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 27,535 shares of the retailer’s stock valued at $4,076,000 after purchasing an additional 7,860 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Target by 159.5% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 10,698 shares of the retailer’s stock valued at $1,584,000 after buying an additional 6,575 shares during the period. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TGT has been the topic of several analyst reports. Piper Sandler reduced their price target on shares of Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research report on Thursday, November 21st. Hsbc Global Res lowered Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Guggenheim cut their price objective on Target from $180.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Telsey Advisory Group restated an “outperform” rating and issued a $150.00 price objective on shares of Target in a report on Friday. Finally, Stifel Nicolaus increased their target price on shares of Target from $137.00 to $145.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $158.23.

Target Price Performance

TGT stock opened at $133.62 on Tuesday. The business has a 50 day moving average price of $136.13 and a 200 day moving average price of $145.15. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The stock has a market cap of $61.22 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 2.32 and a beta of 1.16. Target Co. has a fifty-two week low of $120.21 and a fifty-two week high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). The company 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 firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.10 EPS. Equities research analysts anticipate that Target Co. will post 8.6 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Wednesday, February 12th. Target’s dividend payout ratio (DPR) is currently 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.