Cresset Asset Management LLC Sells 85,583 Shares of Target Co. (NYSE:TGT)

Cresset Asset Management LLC cut its stake in shares of Target Co. (NYSE:TGT) by 37.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,210 shares of the retailer’s stock after selling 85,583 shares during the period. Cresset Asset Management LLC’s holdings in Target were worth $18,953,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of TGT. Kathmere Capital Management LLC grew its position in shares of Target by 3.0% in the 4th quarter. Kathmere Capital Management LLC now owns 2,541 shares of the retailer’s stock valued at $343,000 after buying an additional 73 shares during the last quarter. Horrell Capital Management Inc. boosted its holdings in shares of Target by 0.3% in the fourth quarter. Horrell Capital Management Inc. now owns 26,657 shares of the retailer’s stock valued at $3,603,000 after acquiring an additional 76 shares during the period. Fiducient Advisors LLC grew its position in shares of Target by 4.6% during the fourth quarter. Fiducient Advisors LLC now owns 1,778 shares of the retailer’s stock worth $240,000 after acquiring an additional 78 shares during the last quarter. First PREMIER Bank increased its holdings in shares of Target by 21.9% in the 4th quarter. First PREMIER Bank now owns 445 shares of the retailer’s stock valued at $61,000 after acquiring an additional 80 shares during the period. Finally, Winch Advisory Services LLC raised its position in Target by 34.5% in the 4th 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 owned by institutional investors.

Target Trading Down 0.3 %

Shares of TGT opened at $93.69 on Wednesday. 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 Co. has a 1-year low of $87.35 and a 1-year high of $167.40. The stock has a market cap of $42.57 billion, a price-to-earnings ratio of 9.94, a price-to-earnings-growth ratio of 1.94 and a beta of 1.27. The firm has a 50 day simple moving average of $101.33 and a 200-day simple moving average of $124.74.

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

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be issued a dividend of $1.12 per share. The ex-dividend date is Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.78%. Target’s dividend payout ratio (DPR) is presently 50.56%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on TGT shares. Truist Financial dropped their price objective on shares of Target from $124.00 to $82.00 and set a “hold” rating on the stock in a research note on Tuesday, April 8th. Piper Sandler reduced their price objective on Target from $132.00 to $124.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. StockNews.com downgraded Target from a “buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. KGI Securities set a $132.00 price target on Target in a research note on Wednesday, March 5th. Finally, Oppenheimer lowered their price objective on shares of Target from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, twenty-three have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Target has a consensus rating of “Hold” and a consensus price target of $132.37.

Target Company 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.