Thoroughbred Financial Services LLC Reduces Holdings in Target Co. (NYSE:TGT)

Thoroughbred Financial Services LLC lowered its position in Target Co. (NYSE:TGT) by 4.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 6,660 shares of the retailer’s stock after selling 346 shares during the period. Thoroughbred Financial Services LLC’s holdings in Target were worth $900,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TGT. Legacy Investment Solutions LLC purchased a new position in shares of Target in the third quarter worth about $28,000. Hopwood Financial Services Inc. purchased a new position in Target in the 4th quarter worth approximately $29,000. MCF Advisors LLC boosted its holdings in shares of Target by 175.3% during 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 last quarter. Raleigh Capital Management Inc. grew its position in shares of Target by 110.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock valued at $35,000 after purchasing an additional 135 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new stake in shares of Target in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Price Performance

TGT stock opened at $95.70 on Friday. Target Co. has a 1 year low of $90.62 and a 1 year high of $173.05. The firm has a market capitalization of $43.60 billion, a P/E ratio of 10.15, a P/E/G ratio of 1.94 and a beta of 1.28. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The business’s 50-day moving average is $119.41 and its two-hundred day moving average is $134.73.

Target (NYSE:TGT) last issued its earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. The firm had revenue of $30.92 billion during the quarter, compared to the consensus estimate of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Analysts anticipate that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s dividend payout ratio (DPR) is 50.56%.

Analyst Ratings Changes

A number of research firms have weighed in on TGT. Roth Mkm reissued a “neutral” rating and set a $122.00 price objective (down previously from $131.00) on shares of Target in a research note on Wednesday, March 5th. Evercore ISI lowered their price target on shares of Target from $130.00 to $120.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 1st. Piper Sandler reduced their target price on shares of Target from $132.00 to $124.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. Gordon Haskett cut shares of Target from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. Finally, Oppenheimer reduced their price target on shares of Target from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $140.24.

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.