Motco Lowers Stock Position in Target Co. (NYSE:TGT)

Motco lowered its stake in shares of Target Co. (NYSE:TGT) by 2.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 27,827 shares of the retailer’s stock after selling 774 shares during the period. Motco’s holdings in Target were worth $3,762,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of TGT. Mutual Advisors LLC lifted its holdings in Target by 16.4% during the 3rd quarter. Mutual Advisors LLC now owns 21,386 shares of the retailer’s stock worth $3,212,000 after buying an additional 3,014 shares in the last quarter. First Trust Direct Indexing L.P. boosted its holdings in Target by 14.5% in the third quarter. First Trust Direct Indexing L.P. now owns 17,575 shares of the retailer’s stock valued at $2,739,000 after purchasing an additional 2,224 shares during the period. Pinnacle Associates Ltd. grew its stake in Target by 2.2% during the 3rd quarter. Pinnacle Associates Ltd. now owns 40,878 shares of the retailer’s stock worth $5,822,000 after purchasing an additional 888 shares in the last quarter. JFS Wealth Advisors LLC raised its position in Target by 163.1% in the 3rd quarter. JFS Wealth Advisors LLC now owns 1,923 shares of the retailer’s stock valued at $300,000 after purchasing an additional 1,192 shares in the last quarter. Finally, Oak Harvest Investment Services acquired a new position in Target during the 3rd quarter worth approximately $6,670,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Down 1.0 %

TGT opened at $122.80 on Friday. Target Co. has a one year low of $120.21 and a one year high of $181.86. The company has a market cap of $56.27 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 1.94 and a beta of 1.15. The business’s fifty day moving average is $133.91 and its two-hundred day moving average is $142.42. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be paid a $1.12 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a yield of 3.65%. Target’s payout ratio is 47.51%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on TGT shares. Wells Fargo & Company decreased their price target on Target from $180.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Daiwa Capital Markets cut shares of Target from an “outperform” rating to a “neutral” rating and cut their target price for the company from $170.00 to $130.00 in a report on Tuesday, November 26th. Piper Sandler dropped their price objective on shares of Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. Evercore ISI reduced their target price on shares of Target from $165.00 to $130.00 and set an “in-line” rating for the company in a report on Thursday, November 21st. Finally, Hsbc Global Res lowered Target from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $157.93.

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.