Blueshift Asset Management LLC Trims Stake in Target Co. (NYSE:TGT)

Blueshift Asset Management LLC lowered its holdings in shares of Target Co. (NYSE:TGT) by 38.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,795 shares of the retailer’s stock after selling 12,439 shares during the period. Target accounts for 1.0% of Blueshift Asset Management LLC’s investment portfolio, making the stock its 13th largest holding. Blueshift Asset Management LLC’s holdings in Target were worth $2,676,000 as of its most recent SEC filing.

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

Target Trading Up 0.2 %

NYSE TGT opened at $104.81 on Thursday. Target Co. has a 12 month low of $103.46 and a 12 month high of $181.86. 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 company has a 50-day moving average of $127.31 and a 200-day moving average of $138.71. The company has a market cap of $47.75 billion, a P/E ratio of 11.11, a P/E/G ratio of 1.94 and a beta of 1.18.

Target (NYSE:TGT) last announced its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, topping the consensus estimate of $2.24 by $0.17. The company had revenue of $30.92 billion during the quarter, compared to analyst estimates of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. As a group, equities analysts predict that Target Co. will post 8.69 earnings per share for the current year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders 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 yield of 4.27%. Target’s dividend payout ratio is currently 50.56%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TGT. The Goldman Sachs Group lowered their price objective on Target from $166.00 to $142.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Guggenheim lifted 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. Piper Sandler reduced their target price on Target from $132.00 to $124.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft cut shares of Target from a “buy” rating to a “hold” rating and lowered their price target for the stock from $184.00 to $108.00 in a research note on Wednesday, November 20th. Finally, Bank of America reduced their price objective on shares of Target from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $145.87.

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.