Wimmer Associates 1 LLC Sells 140 Shares of Target Co. (NYSE:TGT)

Wimmer Associates 1 LLC trimmed its holdings in Target Co. (NYSE:TGT) by 2.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,823 shares of the retailer’s stock after selling 140 shares during the quarter. Wimmer Associates 1 LLC’s holdings in Target were worth $652,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in Target during the 4th quarter worth about $757,892,000. Raymond James Financial Inc. acquired a new position in shares of Target in the 4th quarter valued at approximately $297,122,000. Ameriprise Financial Inc. grew its position in shares of Target by 61.2% in the 4th quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer’s stock valued at $536,407,000 after purchasing an additional 1,506,275 shares during the period. FMR LLC grew its position in shares of Target by 13.6% in the 4th quarter. FMR LLC now owns 11,338,729 shares of the retailer’s stock valued at $1,532,769,000 after purchasing an additional 1,358,348 shares during the period. Finally, Castlekeep Investment Advisors LLC acquired a new position in Target during the 4th quarter worth approximately $182,882,000. 79.73% of the stock is owned by institutional investors.

Target Stock Performance

Shares of TGT stock opened at $98.56 on Monday. The business’s 50-day moving average price is $98.24 and its 200-day moving average price is $121.65. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $44.78 billion, a price-to-earnings ratio of 10.45, a PEG ratio of 1.94 and a beta of 1.27. Target Co. has a 12 month low of $87.35 and a 12 month high of $167.40.

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

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date is Wednesday, May 14th. Target’s dividend payout ratio is currently 50.56%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TGT shares. Roth Capital set a $122.00 price target on Target in a research report on Wednesday, March 5th. Cfra Research downgraded Target from a “moderate buy” rating to a “hold” rating in a research report on Thursday, April 17th. UBS Group reduced their price target on Target from $170.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Piper Sandler reduced their price target on Target from $124.00 to $105.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. Finally, The Goldman Sachs Group cut Target from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $142.00 to $101.00 in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Target currently has a consensus rating of “Hold” and an average price target of $128.13.

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.