Truist Financial Corp Has $19.21 Million Position in Target Co. (NYSE:TGT)

Truist Financial Corp cut its holdings in shares of Target Co. (NYSE:TGT) by 11.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 142,112 shares of the retailer’s stock after selling 17,838 shares during the quarter. Truist Financial Corp’s holdings in Target were worth $19,211,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TGT. State Street Corp increased its holdings in shares of Target by 8.3% during the 3rd quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock worth $5,530,576,000 after acquiring an additional 2,732,801 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Target by 9,940.6% in the 3rd quarter. International Assets Investment Management LLC now owns 2,001,391 shares of the retailer’s stock valued at $311,937,000 after purchasing an additional 1,981,458 shares during the period. Two Sigma Advisers LP boosted its stake in Target by 173.2% in the 3rd quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock valued at $369,295,000 after purchasing an additional 1,502,200 shares during the period. FMR LLC boosted its stake in Target by 11.7% in the 3rd quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock valued at $1,555,542,000 after purchasing an additional 1,046,044 shares during the period. Finally, Worldquant Millennium Advisors LLC boosted its stake in Target by 773.1% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 832,766 shares of the retailer’s stock valued at $129,795,000 after purchasing an additional 737,384 shares during the period. 79.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on TGT shares. Deutsche Bank Aktiengesellschaft downgraded Target from a “buy” rating to a “hold” rating and reduced their price target for the company from $184.00 to $108.00 in a research note on Wednesday, November 20th. Roth Mkm reduced their price target on Target from $157.00 to $131.00 and set a “neutral” rating for the company in a research note on Thursday, November 21st. Daiwa Capital Markets downgraded Target from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $170.00 to $130.00 in a research note on Tuesday, November 26th. Citigroup upped their target price on Target from $130.00 to $133.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Finally, Evercore ISI cut their target price on Target from $165.00 to $130.00 and set an “in-line” rating for the company in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $157.70.

Target Trading Up 0.5 %

Shares of TGT stock opened at $130.76 on Thursday. The stock has a market cap of $59.92 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 1.94 and a beta of 1.15. The stock has a 50-day moving average of $134.75 and a 200-day moving average of $142.84. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. Target Co. has a 1-year low of $120.21 and a 1-year high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). The company had revenue of $25.23 billion during the quarter, compared to analyst estimates of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the company posted $2.10 EPS. On average, equities research analysts forecast that Target Co. will post 8.69 earnings per share for the current year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $4.48 annualized dividend and a dividend yield of 3.43%. Target’s payout ratio is 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.