Erste Asset Management GmbH Cuts Stock Position in Target Co. (NYSE:TGT)

Erste Asset Management GmbH trimmed its holdings in shares of Target Co. (NYSE:TGT) by 15.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,909 shares of the retailer’s stock after selling 15,782 shares during the quarter. Erste Asset Management GmbH’s holdings in Target were worth $11,365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its stake in shares of Target by 8.3% in the third quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock worth $5,530,576,000 after buying an additional 2,732,801 shares during the last quarter. FMR LLC boosted its holdings in shares of Target by 11.7% during the 3rd quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock worth $1,555,542,000 after purchasing an additional 1,046,044 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Target by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,414,025 shares of the retailer’s stock valued at $1,461,456,000 after acquiring an additional 130,691 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Target by 6.5% during the fourth quarter. Bank of New York Mellon Corp now owns 3,832,585 shares of the retailer’s stock worth $518,089,000 after acquiring an additional 234,409 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Target by 1.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,321,055 shares of the retailer’s stock valued at $517,620,000 after buying an additional 62,916 shares during the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on TGT shares. HSBC cut shares of Target from a “buy” rating to a “hold” rating and set a $138.00 price target for the company. in a research report on Wednesday, November 20th. Jefferies Financial Group dropped their price target on Target from $165.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. JPMorgan Chase & Co. dropped their price objective on Target from $146.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Hsbc Global Res cut shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Bank of America cut their price objective on shares of Target from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. One 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 stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $145.87.

Target Stock Performance

Shares of NYSE TGT opened at $104.37 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. Target Co. has a 1-year low of $104.01 and a 1-year high of $181.86. The stock’s 50-day moving average is $129.97 and its 200 day moving average is $140.26. The stock has a market cap of $47.82 billion, a price-to-earnings ratio of 11.07, a P/E/G ratio of 1.94 and a beta of 1.18.

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

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders 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 dividend yield of 4.29%. Target’s dividend payout ratio (DPR) is presently 50.56%.

About Target

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.