1834 Investment Advisors Reduces Stake in Target Co.

1834 Investment Advisors Co. has decreased its stake in Target Co. (NYSE:TGT - Free Report) by 8.0% in the fourth quarter, as reported in its latest 13F filing with the Securities and Exchange Commission. After selling 2,015 shares over the quarter, the institutional investor now holds 23,138 shares in the retailer, valued at approximately $3,128,000.

Other institutional investors and hedge funds have also made adjustments to their holdings in Target. For instance, Thrivent Financial for Lutherans raised its position by 1.8% during the third quarter, accumulating a total of 28,025 shares worth around $4,368,000 after adding 490 shares. Similarly, D.A. Davidson & CO. increased its stake by 8.6% in the same period, owning 119,458 shares valued at $18,619,000 after acquiring an extra 9,510 shares. Prana Capital Management LP saw a significant increase of 47.5%, bringing their total to 217,081 shares worth $33,834,000 after a purchase of 69,885 additional shares.

Moreover, Polianta Ltd boosted its stake by 39.2% during the fourth quarter, obtaining 10,300 shares valued at $1,392,000, following an acquisition of 2,900 shares. Leibman Financial Services Inc. also entered the scene by purchasing new shares worth $2,272,000 in the fourth quarter. Currently, institutional investors and hedge funds hold approximately 79.73% of Target's stock.

Wall Street Analysts Review Target

Recent evaluations by analysts regarding TGT shares have yielded mixed insights. Evercore ISI reduced its price target for Target from $165.00 to $130.00 while maintaining an "in-line" rating. Concurrently, HSBC Global Research downgraded its rating from "strong-buy" to "hold." JPMorgan Chase & Co. also cut its price target from $167.00 to $139.00, indicating a "neutral" rating. Meanwhile, Guggenheim revised its price objective upward from $145.00 to $155.00 and gave Target a "buy" rating.

Overall, one analyst has rated the stock with a sell recommendation, sixteen analysts have proposed a hold rating, and another sixteen have suggested a buy. According to MarketBeat.com data, Target currently holds a consensus rating of "Hold" with a target price averaging $158.57.

Current Stock Performance

As of last Friday, Target shares opened at $137.99. The stock's fifty-day moving average stands at $134.37, and its 200-day moving average is $144.82. Target's market capitalization is $63.23 billion, with a price-to-earnings (P/E) ratio of 14.63, a price-to-earnings growth (PEG) ratio of 2.21, and a beta of 1.16. The company's debt-to-equity ratio is 0.99, with current and quick ratios of 0.94 and 0.25, respectively. Target's stock has experienced a one-year low of $120.21 and a high of $181.86.

Recent Earnings Announcement

Target's latest earnings report, released on November 20th, revealed earnings per share (EPS) of $1.85, falling short of analyst expectations of $2.30 by $0.45. The retailer's return on equity stood at 31.11%, while its net margin was 4.06%. The company's quarterly revenue reached $25.23 billion, although it fell short of estimates of $25.87 billion. Compared to the same quarter last year, the revenue showed a slight increase of 0.9%, while EPS from the same period last year was $2.10. Analysts forecast that Target is expected to post an EPS of 8.68 for the current year.

Dividend Declaration

In other news, Target has declared a quarterly dividend of $1.12 per share, scheduled to be paid on March 1st to shareholders on record as of February 12th. This suggests an annualized dividend of $4.48 and a yield of 3.25%, with a current dividend payout ratio of 47.51%.

Company Overview

Target Corporation operates as a general merchandise retailer across the United States. They provide a variety of products including apparel for all ages, beauty products, household items, and pet supplies.

Target, Investment, Stake