NFJ Investment Group LLC Reduces Position in Target Co. (NYSE:TGT)

NFJ Investment Group LLC cut its holdings in shares of Target Co. (NYSE:TGT) by 72.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,940 shares of the retailer’s stock after selling 64,179 shares during the quarter. NFJ Investment Group LLC’s holdings in Target were worth $3,236,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Hopwood Financial Services Inc. purchased a new position in Target during the fourth quarter worth approximately $29,000. Bernard Wealth Management Corp. acquired a new position in shares of Target during the 4th quarter valued at about $30,000. MCF Advisors LLC boosted its position in shares of Target by 175.3% during the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after acquiring an additional 163 shares during the last quarter. Raleigh Capital Management Inc. grew its holdings in shares of Target by 110.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock valued at $35,000 after purchasing an additional 135 shares during the period. Finally, Legacy Investment Solutions LLC increased its position in Target by 47.5% during the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock worth $35,000 after purchasing an additional 85 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Down 1.7 %

Target stock opened at $90.54 on Thursday. The stock’s fifty day moving average is $110.53 and its two-hundred day moving average is $130.71. The stock has a market cap of $41.25 billion, a PE ratio of 9.60, a P/E/G ratio of 1.94 and a beta of 1.28. Target Co. has a 1-year low of $87.35 and a 1-year high of $169.09. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25.

Target (NYSE:TGT) last posted its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.17. The firm had revenue of $30.92 billion during the quarter, compared to analysts’ expectations of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. On average, sell-side analysts expect that Target Co. will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be paid a dividend of $1.12 per share. The ex-dividend date is Wednesday, May 14th. This represents a $4.48 annualized dividend and a yield of 4.95%. Target’s dividend payout ratio is currently 50.56%.

Wall Street Analysts Forecast Growth

TGT has been the subject of several analyst reports. Mizuho initiated coverage on shares of Target in a research note on Friday, April 11th. They issued a “neutral” rating and a $92.00 price target for the company. StockNews.com lowered Target from a “buy” rating to a “hold” rating in a research report on Thursday, April 10th. Piper Sandler decreased their price target on Target from $132.00 to $124.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. Citigroup reduced their price objective on shares of Target from $133.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Finally, Gordon Haskett lowered shares of Target from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, twenty-two have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Target has an average rating of “Hold” and a consensus target price of $133.20.

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.