Wright Investors Service Inc. Sells 1,929 Shares of Target Co. (NYSE:TGT)

Wright Investors Service Inc. cut its holdings in shares of Target Co. (NYSE:TGT) by 25.7% during the fourth quarter, Holdings Channel reports. The fund owned 5,571 shares of the retailer’s stock after selling 1,929 shares during the period. Wright Investors Service Inc.’s holdings in Target were worth $753,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thrivent Financial for Lutherans grew its holdings in shares of Target by 1.8% during the third quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock worth $4,368,000 after purchasing an additional 490 shares during the last quarter. D.A. Davidson & CO. lifted its position in Target by 8.6% during the 3rd quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock worth $18,619,000 after buying an additional 9,510 shares in the last quarter. Prana Capital Management LP lifted its position in Target by 47.5% during the 3rd quarter. Prana Capital Management LP now owns 217,081 shares of the retailer’s stock worth $33,834,000 after buying an additional 69,885 shares in the last quarter. Transamerica Financial Advisors Inc. bought a new stake in Target during the 3rd quarter worth about $967,000. Finally, Geode Capital Management LLC increased its position in Target by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 9,414,025 shares of the retailer’s stock valued at $1,461,456,000 after acquiring an additional 130,691 shares in the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on TGT. Telsey Advisory Group reissued an “outperform” rating and set a $195.00 price target on shares of Target in a research note on Wednesday, November 20th. TD Cowen decreased their price objective on Target from $165.00 to $145.00 and set a “hold” rating on the stock in a research report on Thursday, November 21st. Wells Fargo & Company lowered their target price on Target from $180.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Daiwa America lowered Target from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Finally, Piper Sandler lowered their price objective on Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $160.57.

Target Trading Down 1.9 %

NYSE:TGT opened at $138.89 on Tuesday. The business’s 50-day simple moving average is $137.36 and its 200-day simple moving average is $145.47. Target Co. has a fifty-two week low of $120.21 and a fifty-two week 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. The stock has a market capitalization of $63.64 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 2.21 and a beta of 1.16.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $25.23 billion during the quarter, compared to the consensus estimate of $25.87 billion. During the same period in the previous year, the firm posted $2.10 EPS. The business’s quarterly revenue was up .9% compared to the same quarter last year. Sell-side analysts expect that Target Co. will post 8.6 earnings per share for the current fiscal year.

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.