Spirit of America Management Corp NY Sells 800 Shares of Target Co. (NYSE:TGT)

Spirit of America Management Corp NY reduced its stake in Target Co. (NYSE:TGT) by 7.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 10,330 shares of the retailer’s stock after selling 800 shares during the quarter. Spirit of America Management Corp NY’s holdings in Target were worth $1,396,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans grew its stake in Target by 1.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock worth $4,368,000 after acquiring an additional 490 shares in the last quarter. Northeast Financial Group Inc. purchased a new stake in shares of Target in the 4th quarter worth approximately $1,566,000. D.A. Davidson & CO. lifted its position in shares of Target by 8.6% in the 3rd quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock worth $18,619,000 after purchasing an additional 9,510 shares during the period. Prana Capital Management LP lifted its position in shares of Target by 47.5% in the 3rd quarter. Prana Capital Management LP now owns 217,081 shares of the retailer’s stock worth $33,834,000 after purchasing an additional 69,885 shares during the period. Finally, Polianta Ltd lifted its position in shares of Target by 39.2% in the 4th quarter. Polianta Ltd now owns 10,300 shares of the retailer’s stock worth $1,392,000 after purchasing an additional 2,900 shares during the period. 79.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TGT. Truist Financial upped their price target on shares of Target from $129.00 to $134.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Oppenheimer reaffirmed an “outperform” rating and issued a $165.00 price target on shares of Target in a research report on Monday, November 25th. Stifel Nicolaus upped their price target on shares of Target from $137.00 to $145.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Roth Mkm lowered their price target on shares of Target from $157.00 to $131.00 and set a “neutral” rating for the company in a research report on Thursday, November 21st. Finally, Bank of America decreased their target price on shares of Target from $195.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $157.70.

Target Stock Up 1.1 %

NYSE:TGT opened at $135.57 on Wednesday. The firm has a market capitalization of $62.12 billion, a P/E ratio of 14.38, a PEG ratio of 2.24 and a beta of 1.15. Target Co. has a 1-year low of $120.21 and a 1-year high of $181.86. The company’s fifty day moving average price is $134.87 and its 200-day moving average price is $144.21. 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 (NYSE:TGT) last released its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.45). The firm had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.10 EPS. As a group, equities research analysts anticipate that Target Co. will post 8.69 EPS for the current year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be given a dividend of $1.12 per share. The ex-dividend date is Wednesday, February 12th. This represents a $4.48 annualized dividend and a yield of 3.30%. Target’s dividend payout ratio is presently 47.51%.

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.