Clear Harbor Asset Management LLC Lowers Holdings in Target Co. (NYSE:TGT)

Clear Harbor Asset Management LLC reduced its stake in Target Co. (NYSE:TGT) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,244 shares of the retailer’s stock after selling 172 shares during the period. Clear Harbor Asset Management LLC’s holdings in Target were worth $844,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp boosted its stake in Target by 8.3% in the 3rd quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock worth $5,530,576,000 after purchasing an additional 2,732,801 shares in the last quarter. FMR LLC lifted its stake in shares of Target by 11.7% in the third quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock worth $1,555,542,000 after buying an additional 1,046,044 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Target by 1.4% during the third quarter. Geode Capital Management LLC now owns 9,414,025 shares of the retailer’s stock valued at $1,461,456,000 after buying an additional 130,691 shares during the last quarter. Legal & General Group Plc increased its position in shares of Target by 6.8% during the second quarter. Legal & General Group Plc now owns 4,374,851 shares of the retailer’s stock valued at $647,652,000 after acquiring an additional 279,656 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Target by 1.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,321,055 shares of the retailer’s stock worth $517,620,000 after acquiring an additional 62,916 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors.

Target Trading Up 2.7 %

Shares of TGT opened at $137.28 on Wednesday. Target Co. has a 1 year low of $120.21 and a 1 year high of $181.86. The company has a 50 day simple moving average of $135.74 and a two-hundred day simple moving average of $145.07. 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 firm has a market cap of $62.90 billion, a P/E ratio of 14.56, a price-to-earnings-growth ratio of 2.19 and a beta of 1.16.

Target (NYSE:TGT) last announced its quarterly earnings results 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 company had revenue of $25.23 billion during the quarter, compared to the consensus estimate of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The business’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.10 earnings per share. On average, equities analysts expect that Target Co. will post 8.62 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Wednesday, February 12th. Target’s dividend payout ratio is presently 47.51%.

Analyst Upgrades and Downgrades

Several analysts have commented on TGT shares. JPMorgan Chase & Co. cut their target price on Target from $167.00 to $139.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. Daiwa America cut Target from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Piper Sandler decreased their target price on Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research report on Thursday, November 21st. Citigroup upped their target price on shares of Target from $130.00 to $133.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Finally, Roth Mkm reduced their price target 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. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Target currently has a consensus rating of “Hold” and a consensus price target of $158.23.

Target Company 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.