Zurcher Kantonalbank Zurich Cantonalbank Sells 10,261 Shares of Target Co. (NYSE:TGT)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of Target Co. (NYSE:TGT) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 194,624 shares of the retailer’s stock after selling 10,261 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Target were worth $26,309,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp boosted its position in Target by 8.3% in the third quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock valued at $5,530,576,000 after buying an additional 2,732,801 shares in the last quarter. FMR LLC boosted its holdings in shares of Target by 11.7% in the 3rd quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock worth $1,555,542,000 after acquiring an additional 1,046,044 shares in the last quarter. Geode Capital Management LLC grew its position in Target by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,414,025 shares of the retailer’s stock worth $1,461,456,000 after acquiring an additional 130,691 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Target by 6.5% during the 4th quarter. Bank of New York Mellon Corp now owns 3,832,585 shares of the retailer’s stock valued at $518,089,000 after purchasing an additional 234,409 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Target by 1.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,321,055 shares of the retailer’s stock worth $517,620,000 after purchasing an additional 62,916 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TGT shares. Guggenheim raised their target price on Target from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. The Goldman Sachs Group lowered their price objective on shares of Target from $166.00 to $142.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Telsey Advisory Group decreased their price target on shares of Target from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. TD Cowen dropped their price objective on shares of Target from $165.00 to $145.00 and set a “hold” rating for the company in a research report on Thursday, November 21st. Finally, Citigroup decreased their price objective on Target from $133.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $145.87.

Target Stock Performance

Shares of TGT stock opened at $112.88 on Wednesday. The company has a market capitalization of $51.72 billion, a P/E ratio of 11.97, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18. Target Co. has a 52 week low of $111.84 and a 52 week high of $181.86. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The company’s 50 day moving average price is $131.18 and its two-hundred day moving average price is $140.74.

Target (NYSE:TGT) last posted its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, beating the consensus estimate of $2.24 by $0.17. Target had a net margin of 4.06% and a return on equity of 31.11%. The business had revenue of $30.92 billion for the quarter, compared to analysts’ expectations of $30.83 billion. On average, analysts expect that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th were paid a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend was Wednesday, February 12th. Target’s payout ratio is 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.