Target Co. (NYSE:TGT) Holdings Cut by M&T Bank Corp

M&T Bank Corp decreased its position in shares of Target Co. (NYSE:TGT - Free Report) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 423,071 shares of the retailer's stock after selling 3,671 shares during the period. M&T Bank Corp owned 0.09% of Target worth $57,191,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of TGT. Thrivent Financial for Lutherans boosted its holdings in shares of Target by 1.8% in the third quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer's stock valued at $4,368,000 after acquiring an additional 490 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in Target by 25.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer's stock valued at $2,430,000 after acquiring an additional 3,590 shares during the period. Northeast Financial Group Inc. purchased a new stake in shares of Target during the 4th quarter worth $1,566,000. D.A. Davidson & CO. increased its holdings in shares of Target by 8.6% in the 3rd quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer's stock valued at $18,619,000 after purchasing an additional 9,510 shares in the last quarter. Finally, LMG Wealth Partners LLC purchased a new position in Target in the fourth quarter valued at about $1,438,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Price Performance

Target stock traded down $0.44 during trading hours on Wednesday, hitting $116.70. 7,306,075 shares of the company traded hands, compared to its average volume of 5,894,583. The firm's 50-day simple moving average is $132.91 and its two-hundred day simple moving average is $141.92. 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 cap of $53.47 billion, a P/E ratio of 12.38, a P/E/G ratio of 1.94 and a beta of 1.15. Target Co. has a 1-year low of $112.53 and a 1-year high of $181.86.

Target (NYSE:TGT - Get Free Report) last released its earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, beating the consensus estimate of $2.24 by $0.17. The business had revenue of $30.92 billion during the quarter, compared to analyst estimates of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. As a group, analysts forecast that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently announced 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. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date was Wednesday, February 12th. Target's dividend payout ratio (DPR) is presently 47.51%.

Analysts Set New Price Targets

A number of research firms have commented on TGT. Daiwa America downgraded Target from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, November 26th. TD Cowen cut their target price on Target from $165.00 to $145.00 and set a "hold" rating on the stock in a research report on Thursday, November 21st. Guggenheim increased their price objective 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. JPMorgan Chase & Co. decreased their price target on Target from $146.00 to $140.00 and set a "neutral" rating for the company in a report on Wednesday. Finally, Truist Financial dropped their target price on Target from $134.00 to $124.00 and set a "hold" rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Target currently has a consensus rating of "Hold" and an average price target of $148.23.

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.