The Manufacturers Life Insurance Company Sells 13,546 Shares of Target Co. (NYSE:TGT)

The Manufacturers Life Insurance Company trimmed its position in Target Co. (NYSE:TGT) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 535,817 shares of the retailer’s stock after selling 13,546 shares during the period. The Manufacturers Life Insurance Company owned 0.12% of Target worth $72,432,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Kathmere Capital Management LLC increased its stake in Target by 3.0% in the 4th quarter. Kathmere Capital Management LLC now owns 2,541 shares of the retailer’s stock worth $343,000 after acquiring an additional 73 shares during the last quarter. Horrell Capital Management Inc. grew its holdings in shares of Target by 0.3% during the fourth quarter. Horrell Capital Management Inc. now owns 26,657 shares of the retailer’s stock worth $3,603,000 after purchasing an additional 76 shares in the last quarter. Fiducient Advisors LLC increased its position in shares of Target by 4.6% in the fourth quarter. Fiducient Advisors LLC now owns 1,778 shares of the retailer’s stock worth $240,000 after purchasing an additional 78 shares during the last quarter. First PREMIER Bank raised its stake in Target by 21.9% in the fourth quarter. First PREMIER Bank now owns 445 shares of the retailer’s stock valued at $61,000 after purchasing an additional 80 shares in the last quarter. Finally, Winch Advisory Services LLC lifted its position in Target by 34.5% during the fourth quarter. Winch Advisory Services LLC now owns 320 shares of the retailer’s stock valued at $43,000 after purchasing an additional 82 shares during the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TGT shares. Wells Fargo & Company decreased their price target on shares of Target from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Mizuho started coverage on Target in a research note on Friday, April 11th. They issued a “neutral” rating and a $92.00 target price on the stock. StockNews.com lowered Target from a “buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Roth Mkm reissued a “neutral” rating and set a $122.00 price objective (down from $131.00) on shares of Target in a report on Wednesday, March 5th. Finally, Piper Sandler dropped their target price on Target from $132.00 to $124.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $132.37.

Target Price Performance

Shares of TGT stock opened at $96.98 on Wednesday. The business’s fifty day moving average is $104.27 and its 200 day moving average is $126.91. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The stock has a market cap of $44.18 billion, a price-to-earnings ratio of 10.28, a PEG ratio of 1.94 and a beta of 1.28. Target Co. has a twelve month low of $87.35 and a twelve month high of $167.40.

Target (NYSE:TGT) last released its 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 for the quarter, compared to the consensus estimate of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Research analysts expect that Target Co. will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 annualized dividend and a yield of 4.62%. Target’s dividend payout ratio (DPR) is presently 50.56%.

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.