Folger Nolan Fleming Douglas Capital Management Inc. Cuts Stake in Target Co. (NYSE:TGT)

Folger Nolan Fleming Douglas Capital Management Inc. decreased its position in shares of Target Co. (NYSE:TGT) by 22.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,085 shares of the retailer’s stock after selling 900 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Target were worth $417,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in shares of Target in the 3rd quarter worth $28,000. Wolff Wiese Magana LLC increased its holdings in Target by 156.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after buying an additional 133 shares in the last quarter. FSA Wealth Management LLC purchased a new position in Target in the 3rd quarter worth about $36,000. Catalyst Capital Advisors LLC bought a new position in Target during the 3rd quarter valued at about $38,000. Finally, First Financial Corp IN boosted its holdings in shares of Target by 330.8% during the 4th quarter. First Financial Corp IN now owns 280 shares of the retailer’s stock valued at $38,000 after acquiring an additional 215 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Price Performance

TGT stock opened at $133.62 on Friday. The stock has a market cap of $61.22 billion, a PE ratio of 14.17, a P/E/G ratio of 2.32 and a beta of 1.16. Target Co. has a 12 month low of $120.21 and a 12 month high of $181.86. The company has a 50-day moving average price of $136.45 and a 200 day moving average price of $145.23. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $25.23 billion during the quarter, compared to analysts’ expectations of $25.87 billion. During the same quarter in the previous year, the company posted $2.10 earnings per share. The company’s quarterly revenue was up .9% compared to the same quarter last year. Equities research analysts anticipate that Target Co. will post 8.6 earnings per share for the current year.

Target Announces Dividend

The business also recently declared 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. This represents a $4.48 annualized dividend and a yield of 3.35%. The ex-dividend date is Wednesday, February 12th. Target’s dividend payout ratio is presently 47.51%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TGT shares. Deutsche Bank Aktiengesellschaft downgraded shares of Target from a “buy” rating to a “hold” rating and lowered their price objective for the company from $184.00 to $108.00 in a research report on Wednesday, November 20th. Truist Financial increased their price target on Target from $129.00 to $134.00 and gave the company a “hold” rating in a report on Friday. BMO Capital Markets dropped their target price on Target from $160.00 to $120.00 and set a “market perform” rating on the stock in a research report on Thursday, November 21st. Sanford C. Bernstein assumed coverage on Target in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $168.00 target price on the stock. Finally, Melius Research began coverage on Target in a report on Monday, September 23rd. They set a “buy” rating and a $180.00 price target for the company. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Target currently has an average rating of “Hold” and an average price target of $158.23.

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.