Kentucky Retirement Systems Cuts Stock Position in Target Co. (NYSE:TGT)

Kentucky Retirement Systems cut its holdings in shares of Target Co. (NYSE:TGT) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,792 shares of the retailer’s stock after selling 438 shares during the quarter. Kentucky Retirement Systems’ holdings in Target were worth $4,298,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in Target during the third quarter worth about $28,000. FSA Wealth Management LLC bought a new position in shares of Target during the 3rd quarter valued at approximately $36,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Target during the 3rd quarter worth approximately $38,000. MCF Advisors LLC raised its holdings in shares of Target by 175.3% in the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after purchasing an additional 163 shares during the period. Finally, Raleigh Capital Management Inc. raised its holdings in shares of Target by 110.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after purchasing an additional 135 shares during the period. 79.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. BMO Capital Markets decreased their target price on Target from $160.00 to $120.00 and set a “market perform” rating for the company in a research report on Thursday, November 21st. HSBC lowered Target from a “buy” rating to a “hold” rating and set a $138.00 price objective for the company. in a report on Wednesday, November 20th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $150.00 price objective on shares of Target in a report on Friday, January 17th. Roth Mkm reduced their target price on shares of Target from $157.00 to $131.00 and set a “neutral” rating for the company in a research note on Thursday, November 21st. Finally, Piper Sandler dropped their price target on shares of Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $157.70.

Target Stock Down 2.9 %

Shares of NYSE:TGT opened at $124.40 on Friday. The firm has a market capitalization of $57.00 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 1.98 and a beta of 1.15. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. Target Co. has a 52-week low of $120.21 and a 52-week high of $181.86. The firm has a fifty day moving average of $134.41 and a 200 day moving average of $142.67.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The firm had revenue of $25.23 billion during the quarter, compared to analysts’ expectations of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Target’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.10 earnings per share. As a group, research analysts anticipate that Target Co. will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend is Wednesday, February 12th. Target’s payout ratio is currently 47.51%.

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.