Target Co. (NYSE:TGT) Position Cut by Cullen Capital Management LLC

Cullen Capital Management LLC lowered its position in shares of Target Co. (NYSE:TGT) by 3.9% in the 4th quarter, Holdings Channel reports. The fund owned 899,074 shares of the retailer’s stock after selling 36,658 shares during the period. Cullen Capital Management LLC’s holdings in Target were worth $121,537,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Norges Bank bought a new position in Target in the 4th quarter worth about $757,892,000. Raymond James Financial Inc. acquired a new stake in Target in the 4th quarter valued at approximately $297,122,000. Two Sigma Advisers LP raised its stake in Target by 173.2% during the 3rd quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock valued at $369,295,000 after acquiring an additional 1,502,200 shares in the last quarter. Worldquant Millennium Advisors LLC boosted its position in Target by 773.1% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 832,766 shares of the retailer’s stock worth $129,795,000 after acquiring an additional 737,384 shares during the period. Finally, Proficio Capital Partners LLC grew its stake in shares of Target by 23,464.9% in the fourth quarter. Proficio Capital Partners LLC now owns 605,618 shares of the retailer’s stock worth $81,867,000 after purchasing an additional 603,048 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Trading Up 1.5 %

NYSE:TGT opened at $95.70 on Friday. The stock has a market cap of $43.60 billion, a PE ratio of 10.15, a price-to-earnings-growth ratio of 1.94 and a beta of 1.28. Target Co. has a fifty-two week low of $90.62 and a fifty-two week high of $173.05. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The stock’s 50-day moving average is $119.41 and its two-hundred day moving average is $134.85.

Target (NYSE:TGT) last announced its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $30.83 billion. As a group, equities research analysts forecast that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be issued 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 4.68%. Target’s dividend payout ratio is 50.56%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Oppenheimer cut their price objective on shares of Target from $165.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Guggenheim upped their price target on shares of Target from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Jefferies Financial Group lowered their price objective on shares of Target from $165.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Evercore ISI cut their target price on Target from $130.00 to $120.00 and set an “in-line” rating for the company in a research report on Tuesday. Finally, Stifel Nicolaus lowered their price target on Target from $130.00 to $120.00 and set a “hold” rating on the stock in a research report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $140.24.

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.