Modern Wealth Management LLC Decreases Stock Holdings in Target Co. (NYSE:TGT)

Modern Wealth Management LLC lessened its stake in Target Co. (NYSE:TGT) by 67.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,838 shares of the retailer’s stock after selling 9,955 shares during the period. Modern Wealth Management LLC’s holdings in Target were worth $635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in TGT. Cynosure Group LLC raised its stake in shares of Target by 4.3% during the 3rd quarter. Cynosure Group LLC now owns 1,590 shares of the retailer’s stock worth $248,000 after acquiring an additional 65 shares in the last quarter. Hancock Whitney Corp grew its holdings in Target by 3.3% in the third quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock worth $336,000 after purchasing an additional 68 shares during the last quarter. Kathmere Capital Management LLC increased its position in shares of Target by 3.0% during the fourth quarter. Kathmere Capital Management LLC now owns 2,541 shares of the retailer’s stock worth $343,000 after purchasing an additional 73 shares in the last quarter. Horrell Capital Management Inc. lifted its holdings in shares of Target by 0.3% during the 4th quarter. Horrell Capital Management Inc. now owns 26,657 shares of the retailer’s stock valued at $3,603,000 after purchasing an additional 76 shares during the last quarter. Finally, First PREMIER Bank boosted its position in shares of Target by 21.9% in the 4th quarter. First PREMIER Bank now owns 445 shares of the retailer’s stock worth $61,000 after purchasing an additional 80 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Target Price Performance

Shares of NYSE TGT opened at $106.05 on Thursday. The firm has a fifty day moving average of $124.09 and a 200 day moving average of $137.08. Target Co. has a one year low of $101.76 and a one year high of $181.86. The firm has a market cap of $48.32 billion, a PE ratio of 11.25, a PEG ratio of 1.94 and a beta of 1.18. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94.

Target (NYSE:TGT) last released its quarterly 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. Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $30.92 billion during the quarter, compared to the consensus estimate of $30.83 billion. As a group, research analysts predict that Target Co. will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 4.22%. The ex-dividend date is Wednesday, May 14th. Target’s payout ratio is 50.56%.

Wall Street Analyst Weigh In

TGT has been the subject of a number of research analyst reports. Guggenheim increased their price target on Target from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. The Goldman Sachs Group lowered their target price on shares of Target from $166.00 to $142.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Sanford C. Bernstein restated a “market perform” rating on shares of Target in a research note on Wednesday, March 5th. Roth Mkm reiterated a “neutral” rating and set a $122.00 price objective (down from $131.00) on shares of Target in a research note on Wednesday, March 5th. Finally, Bank of America cut their target price on Target from $160.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $145.55.

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.