Target Co. (NYSE:TGT) Shares Sold by Hartford Financial Management Inc.

Hartford Financial Management Inc. cut its holdings in shares of Target Co. (NYSE:TGT) by 3.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,990 shares of the retailer’s stock after selling 475 shares during the quarter. Hartford Financial Management Inc.’s holdings in Target were worth $1,756,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TGT. Legacy Investment Solutions LLC acquired a new position in Target during the 3rd quarter worth $28,000. Wolff Wiese Magana LLC grew its position in shares of Target by 156.5% during the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after buying an additional 133 shares in the last quarter. MCF Advisors LLC grew its position in shares of Target by 175.3% during the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after buying an additional 163 shares in the last quarter. Raleigh Capital Management Inc. increased its stake in shares of Target by 110.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after buying an additional 135 shares during the period. Finally, FSA Wealth Management LLC acquired a new stake in Target in the third quarter valued at approximately $36,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Performance

NYSE TGT opened at $140.37 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. Target Co. has a fifty-two week low of $120.21 and a fifty-two week high of $181.86. The business has a fifty day moving average of $134.17 and a 200-day moving average of $144.61. The stock has a market cap of $64.32 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 2.28 and a beta of 1.16.

Target (NYSE:TGT) last released its 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). The firm had revenue of $25.23 billion during the quarter, compared to analysts’ expectations of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Target’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the company posted $2.10 earnings per share. As a group, analysts predict 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. Shareholders of record on Wednesday, February 12th will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Wednesday, February 12th. Target’s dividend payout ratio is presently 47.51%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Roth Mkm lowered their price target on shares of Target from $157.00 to $131.00 and set a “neutral” rating for the company in a report on Thursday, November 21st. Daiwa Capital Markets downgraded shares of Target from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $170.00 to $130.00 in a research note on Tuesday, November 26th. Evercore ISI cut their price target on Target from $165.00 to $130.00 and set an “in-line” rating on the stock in a research note on Thursday, November 21st. Truist Financial upped their price objective on Target from $129.00 to $134.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Finally, Guggenheim boosted their target price on Target from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Target has a consensus rating of “Hold” and an average price target of $157.70.

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.