Fiduciary Family Office LLC Cuts Holdings in Target Co. (NYSE:TGT)

Fiduciary Family Office LLC trimmed its holdings in shares of Target Co. (NYSE:TGT) by 9.5% in the first quarter, HoldingsChannel.com reports. The fund owned 1,337 shares of the retailer’s stock after selling 140 shares during the period. Fiduciary Family Office LLC’s holdings in Target were worth $237,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Target by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 44,945,524 shares of the retailer’s stock worth $6,401,142,000 after purchasing an additional 417,818 shares during the period. Massachusetts Financial Services Co. MA raised its position in Target by 9.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,163,864 shares of the retailer’s stock worth $1,447,538,000 after acquiring an additional 868,274 shares during the period. Franklin Resources Inc. raised its position in Target by 1.5% in the fourth quarter. Franklin Resources Inc. now owns 9,531,846 shares of the retailer’s stock worth $1,357,525,000 after acquiring an additional 137,180 shares during the period. Norges Bank purchased a new position in Target in the fourth quarter valued at about $759,810,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Target by 4.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,873,399 shares of the retailer’s stock valued at $409,230,000 after acquiring an additional 125,489 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Price Performance

NYSE TGT traded down $1.55 on Monday, reaching $151.30. 3,645,516 shares of the company’s stock traded hands, compared to its average volume of 3,910,486. The stock has a market cap of $70.00 billion, a PE ratio of 17.16, a P/E/G ratio of 1.44 and a beta of 1.19. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.27. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86. The stock has a 50-day simple moving average of $149.92 and a 200 day simple moving average of $153.86.

Target (NYSE:TGT) last issued its earnings results on Wednesday, May 22nd. The retailer reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). Target had a return on equity of 31.91% and a net margin of 3.87%. The business had revenue of $24.14 billion during the quarter, compared to analysts’ expectations of $24.52 billion. During the same quarter in the previous year, the business earned $2.05 EPS. Target’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, research analysts predict that Target Co. will post 9.31 earnings per share for the current year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 2.96%. This is a positive change from Target’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Wednesday, August 21st. Target’s dividend payout ratio (DPR) is presently 49.38%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TGT. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $195.00 price target on shares of Target in a report on Wednesday, May 22nd. UBS Group lowered their target price on Target from $191.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Truist Financial cut their price objective on shares of Target from $160.00 to $153.00 and set a “hold” rating for the company in a report on Thursday, May 23rd. BMO Capital Markets lowered their target price on shares of Target from $170.00 to $155.00 and set a “market perform” rating on the stock in a report on Thursday, May 23rd. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $190.00 price target on shares of Target in a report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $176.57.

Target Company 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.