Handelsbanken Fonder AB Sells 7,944 Shares of Target Co. (NYSE:TGT)

Handelsbanken Fonder AB decreased its position in Target Co. (NYSE:TGT) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 143,952 shares of the retailer’s stock after selling 7,944 shares during the quarter. Handelsbanken Fonder AB’s holdings in Target were worth $19,459,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TGT. International Assets Investment Management LLC raised its position in shares of Target by 9,940.6% in the third quarter. International Assets Investment Management LLC now owns 2,001,391 shares of the retailer’s stock valued at $311,937,000 after purchasing an additional 1,981,458 shares during the period. Dakota Wealth Management raised its position in shares of Target by 12.1% in the third quarter. Dakota Wealth Management now owns 40,790 shares of the retailer’s stock valued at $6,358,000 after purchasing an additional 4,397 shares during the period. Tectonic Advisors LLC increased its position in Target by 1.4% during the third quarter. Tectonic Advisors LLC now owns 6,064 shares of the retailer’s stock worth $945,000 after acquiring an additional 85 shares during the period. West Michigan Advisors LLC increased its position in Target by 15.5% during the third quarter. West Michigan Advisors LLC now owns 3,233 shares of the retailer’s stock worth $504,000 after acquiring an additional 434 shares during the period. Finally, Cross Staff Investments Inc increased its position in Target by 1.7% during the third quarter. Cross Staff Investments Inc now owns 4,676 shares of the retailer’s stock worth $729,000 after acquiring an additional 76 shares during the period. Institutional investors own 79.73% of the company’s stock.

Target Stock Performance

Target stock opened at $124.40 on Friday. The stock has a 50-day simple moving average of $134.41 and a 200 day simple moving average of $142.67. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. Target Co. has a 12-month low of $120.21 and a 12-month high of $181.86. The stock has a market capitalization of $57.00 billion, a price-to-earnings ratio of 13.19, a P/E/G ratio of 1.98 and a beta of 1.15.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) 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 business had revenue of $25.23 billion during the quarter, compared to the consensus estimate of $25.87 billion. During the same period in the prior year, the firm earned $2.10 earnings per share. The business’s quarterly revenue was up .9% compared to the same quarter last year. On average, research analysts anticipate that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.60%. Target’s dividend payout ratio is 47.51%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TGT. Wells Fargo & Company dropped their target price on shares of Target from $180.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Oppenheimer reaffirmed an “outperform” rating and set a $165.00 target price on shares of Target in a research report on Monday, November 25th. Guggenheim boosted their target price on shares of Target from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. HSBC lowered shares of Target from a “buy” rating to a “hold” rating and set a $138.00 target price on the stock. in a research report on Wednesday, November 20th. Finally, Hsbc Global Res lowered shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $157.70.

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.