Target Co. (NYSE:TGT) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC trimmed its holdings in Target Co. (NYSE:TGT) by 15.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 153,159 shares of the retailer’s stock after selling 28,468 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Target were worth $20,704,000 as of its most recent filing with the Securities and Exchange Commission.

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

Target Stock Down 1.1 %

TGT stock opened at $133.06 on Friday. The firm has a market cap of $60.97 billion, a PE ratio of 14.11, a PEG ratio of 2.32 and a beta of 1.16. Target Co. has a 1 year low of $120.21 and a 1 year high of $181.86. The company has a fifty day simple moving average of $136.81 and a 200 day simple moving average of $145.31. 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 announced its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The company had revenue of $25.23 billion during the quarter, compared to analyst estimates of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Target’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.10 EPS. Sell-side analysts anticipate that Target Co. will post 8.6 EPS for the current fiscal year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th will be issued 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 3.37%. Target’s dividend payout ratio (DPR) is presently 47.51%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TGT. Deutsche Bank Aktiengesellschaft lowered Target from a “buy” rating to a “hold” rating and cut their target price for the stock from $184.00 to $108.00 in a research report on Wednesday, November 20th. Daiwa Capital Markets lowered shares of Target from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $170.00 to $130.00 in a research note on Tuesday, November 26th. Piper Sandler decreased their target price on shares of Target from $156.00 to $130.00 and set a “neutral” rating for the company in a report on Thursday, November 21st. Melius Research initiated coverage on shares of Target in a report on Monday, September 23rd. They set a “buy” rating and a $180.00 price target on the stock. Finally, Daiwa America lowered shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $160.57.

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.