FARMERS & MERCHANTS TRUST Co OF LONG BEACH Sells 79 Shares of Target Co. (NYSE:TGT)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH lowered its holdings in shares of Target Co. (NYSE:TGT) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,790 shares of the retailer’s stock after selling 79 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Target were worth $377,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in TGT. Cynosure Group LLC raised its holdings in Target by 4.3% in the 3rd quarter. Cynosure Group LLC now owns 1,590 shares of the retailer’s stock worth $248,000 after purchasing an additional 65 shares during the period. Financial Advocates Investment Management increased its position in shares of Target by 1.2% in the third quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock valued at $894,000 after buying an additional 67 shares in the last quarter. Hancock Whitney Corp raised its stake in shares of Target by 3.3% during the 3rd quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock worth $336,000 after buying an additional 68 shares during the period. Trust Co. of Vermont lifted its position in shares of Target by 0.4% during the 3rd quarter. Trust Co. of Vermont now owns 15,678 shares of the retailer’s stock valued at $2,444,000 after buying an additional 69 shares in the last quarter. Finally, Eagle Bluffs Wealth Management LLC grew its stake in Target by 1.1% in the 3rd quarter. Eagle Bluffs Wealth Management LLC now owns 6,818 shares of the retailer’s stock valued at $1,063,000 after acquiring an additional 73 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Price Performance

TGT stock opened at $133.62 on Friday. Target Co. has a 52-week low of $120.21 and a 52-week high of $181.86. The business has a fifty day moving average of $136.45 and a two-hundred day moving average of $145.23. The stock has a market cap of $61.22 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 2.32 and a beta of 1.16. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last issued 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). Target had a return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. During the same period in the previous year, the business posted $2.10 earnings per share. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, research analysts anticipate that Target Co. will post 8.6 earnings per share for the current year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be issued a $1.12 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $4.48 annualized dividend and a dividend yield of 3.35%. Target’s dividend payout ratio is currently 47.51%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TGT shares. Piper Sandler reduced their price objective on shares of Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research report on Thursday, November 21st. Telsey Advisory Group restated an “outperform” rating and set a $150.00 price target on shares of Target in a research report on Friday. Truist Financial lifted their price objective on Target from $129.00 to $134.00 and gave the stock a “hold” rating in a report on Friday. Evercore ISI reduced their target price on Target from $165.00 to $130.00 and set an “in-line” rating for the company in a report on Thursday, November 21st. Finally, Stifel Nicolaus lifted their price target on Target from $137.00 to $145.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $158.23.

Target 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.