Cullen Frost Bankers Inc. Cuts Stock Holdings in Target Co. (NYSE:TGT)

Cullen Frost Bankers Inc. lowered its stake in shares of Target Co. (NYSE:TGT) by 83.4% during the fourth quarter, Holdings Channel reports. The fund owned 19,865 shares of the retailer’s stock after selling 99,959 shares during the period. Cullen Frost Bankers Inc.’s holdings in Target were worth $2,685,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Proficio Capital Partners LLC grew its stake in shares of Target by 74.3% during the fourth quarter. Proficio Capital Partners LLC now owns 4,480 shares of the retailer’s stock worth $606,000 after purchasing an additional 1,910 shares in the last quarter. Live Oak Investment Partners grew its stake in shares of Target by 5,107.7% during the fourth quarter. Live Oak Investment Partners now owns 3,385 shares of the retailer’s stock worth $458,000 after purchasing an additional 3,320 shares in the last quarter. Jag Capital Management LLC grew its stake in shares of Target by 0.6% during the fourth quarter. Jag Capital Management LLC now owns 17,552 shares of the retailer’s stock worth $2,373,000 after purchasing an additional 99 shares in the last quarter. Mainstream Capital Management LLC acquired a new position in shares of Target during the fourth quarter worth $53,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Target by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,144,828 shares of the retailer’s stock worth $425,118,000 after purchasing an additional 91,357 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Price Performance

Shares of NYSE:TGT opened at $115.11 on Friday. 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 company has a market cap of $52.74 billion, a P/E ratio of 12.21, a PEG ratio of 1.94 and a beta of 1.18. Target Co. has a 52 week low of $112.10 and a 52 week high of $181.86. The company has a 50-day moving average price of $132.05 and a 200 day moving average price of $141.51.

Target (NYSE:TGT) last posted its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.17. Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $30.92 billion during the quarter, compared to the consensus estimate of $30.83 billion. Research analysts predict that Target Co. will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th were given a dividend of $1.12 per share. The ex-dividend date was Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.89%. Target’s payout ratio is 50.56%.

Wall Street Analysts Forecast Growth

TGT has been the topic of several research reports. UBS Group dropped their price objective on Target from $170.00 to $155.00 and set a “buy” rating on the stock in a report on Wednesday. DA Davidson dropped their price objective on Target from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday. Truist Financial dropped their price objective on Target from $134.00 to $124.00 and set a “hold” rating on the stock in a report on Wednesday. Wells Fargo & Company dropped their price objective on Target from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. dropped their price objective on Target from $146.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $147.00.

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.