Miramar Capital LLC Reduces Stock Position in Target Co. (NYSE:TGT)

Miramar Capital LLC reduced its holdings in shares of Target Co. (NYSE:TGT) by 44.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 32,571 shares of the retailer’s stock after selling 26,398 shares during the quarter. Miramar Capital LLC’s holdings in Target were worth $4,403,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Cynosure Group LLC lifted its stake in shares of Target by 4.3% during the 3rd quarter. Cynosure Group LLC now owns 1,590 shares of the retailer’s stock valued at $248,000 after buying an additional 65 shares in the last quarter. Hancock Whitney Corp grew its position in shares of Target by 3.3% during the 3rd quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock valued at $336,000 after purchasing an additional 68 shares in the last quarter. Proffitt & Goodson Inc. increased its holdings in shares of Target by 2.2% in the third quarter. Proffitt & Goodson Inc. now owns 3,460 shares of the retailer’s stock worth $539,000 after purchasing an additional 73 shares during the period. Eagle Bluffs Wealth Management LLC raised its position in shares of Target by 1.1% in the third quarter. Eagle Bluffs Wealth Management LLC now owns 6,818 shares of the retailer’s stock worth $1,063,000 after buying an additional 73 shares in the last quarter. Finally, Kathmere Capital Management LLC raised its position in shares of Target by 3.0% in the fourth quarter. Kathmere Capital Management LLC now owns 2,541 shares of the retailer’s stock worth $343,000 after buying an additional 73 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Trading Up 0.9 %

NYSE:TGT opened at $115.11 on Friday. The company has a fifty day moving average of $132.05 and a 200 day moving average of $141.49. Target Co. has a 52 week low of $112.10 and a 52 week high of $181.86. 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 firm has a market capitalization of $52.74 billion, a P/E ratio of 12.21, a P/E/G ratio of 1.94 and a beta of 1.18.

Target (NYSE:TGT) last posted its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 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 analyst estimates of $30.83 billion. On average, research analysts predict that Target Co. will post 8.69 earnings per share for the current year.

Target Announces Dividend

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

Analysts Set New Price Targets

TGT has been the topic of a number of research analyst reports. Piper Sandler decreased their target price on Target from $132.00 to $124.00 and set a “neutral” rating on the stock in a research note on Wednesday. Stifel Nicolaus decreased their price objective on shares of Target from $145.00 to $130.00 and set a “hold” rating on the stock in a research report on Wednesday. Wells Fargo & Company lowered their target price on shares of Target from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Wednesday. Bank of America cut their price target on shares of Target from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Jefferies Financial Group lowered their price objective on shares of Target from $165.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Target presently has a consensus rating of “Hold” and an average price target of $147.00.

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.