SouthState Corp Reduces Stock Position in Target Co. (NYSE:TGT)

SouthState Corp decreased its position in shares of Target Co. (NYSE:TGT) by 19.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,958 shares of the retailer’s stock after selling 462 shares during the quarter. SouthState Corp’s holdings in Target were worth $265,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Nicholas Company Inc. grew its holdings in Target by 20.5% in the fourth quarter. Nicholas Company Inc. now owns 55,810 shares of the retailer’s stock valued at $7,544,000 after purchasing an additional 9,485 shares during the last quarter. GWN Securities Inc. purchased a new position in Target during the 4th quarter valued at about $682,000. Harbour Investments Inc. raised its position in Target by 11.4% during the fourth quarter. Harbour Investments Inc. now owns 8,180 shares of the retailer’s stock worth $1,106,000 after acquiring an additional 835 shares during the last quarter. Centurion Wealth Management LLC lifted its holdings in shares of Target by 28.5% in the fourth quarter. Centurion Wealth Management LLC now owns 2,448 shares of the retailer’s stock valued at $331,000 after purchasing an additional 543 shares in the last quarter. Finally, one8zero8 LLC acquired a new stake in shares of Target in the fourth quarter valued at approximately $253,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Trading Up 0.9 %

Shares of TGT opened at $105.61 on Tuesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. Target Co. has a 12 month low of $103.46 and a 12 month high of $181.86. The stock has a market cap of $48.11 billion, a PE ratio of 11.20, a P/E/G ratio of 1.94 and a beta of 1.18. The stock’s 50-day moving average is $128.68 and its two-hundred day moving average is $139.29.

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 analysts’ consensus estimates of $2.24 by $0.17. The firm had revenue of $30.92 billion during the quarter, compared to analysts’ expectations of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Equities analysts forecast that Target Co. will post 8.69 earnings per share 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 paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 4.24%. The ex-dividend date is Wednesday, May 14th. Target’s dividend payout ratio (DPR) is 50.56%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. BMO Capital Markets reduced their target price on Target from $160.00 to $120.00 and set a “market perform” rating on the stock in a research note on Thursday, November 21st. DA Davidson reduced their price objective on Target from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft lowered Target from a “buy” rating to a “hold” rating and decreased their price objective for the company from $184.00 to $108.00 in a research note on Wednesday, November 20th. JPMorgan Chase & Co. cut their target price on shares of Target from $146.00 to $140.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. Finally, Citigroup decreased their price target on shares of Target from $133.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Target has a consensus rating of “Hold” and a consensus price target of $145.87.

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.