Busey Bank Trims Holdings in Target Co. (NYSE:TGT)

Busey Bank lessened its stake in Target Co. (NYSE:TGT) by 70.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,328 shares of the retailer’s stock after selling 59,877 shares during the period. Busey Bank’s holdings in Target were worth $3,424,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in TGT. Legacy Investment Solutions LLC bought a new stake in shares of Target in the 3rd quarter worth about $28,000. Wolff Wiese Magana LLC grew its stake in Target by 156.5% in the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after purchasing an additional 133 shares in the last quarter. MCF Advisors LLC increased its holdings in Target by 175.3% in the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after buying an additional 163 shares during the last quarter. Raleigh Capital Management Inc. increased its holdings in 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 buying an additional 135 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new stake in Target during the third quarter valued at approximately $36,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Trading Down 0.6 %

Shares of NYSE TGT opened at $140.28 on Thursday. The business has a fifty day simple moving average of $133.80 and a 200-day simple moving average of $144.64. The company has a market cap of $64.28 billion, a price-to-earnings ratio of 14.88, a P/E/G ratio of 2.21 and a beta of 1.16. Target Co. has a 12 month low of $120.21 and a 12 month high of $181.86. 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 released its 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 firm had revenue of $25.23 billion during the quarter, compared to analysts’ expectations of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The business’s revenue was up .9% on a year-over-year basis. During the same period last year, the business earned $2.10 earnings per share. Sell-side analysts predict that Target Co. will post 8.68 EPS for the current year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th will be given a $1.12 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a yield of 3.19%. Target’s payout ratio is 47.51%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Bank of America decreased their target price on Target from $195.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Hsbc Global Res lowered shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Truist Financial raised their price target on shares of Target from $129.00 to $134.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. JPMorgan Chase & Co. decreased their price target on shares of Target from $167.00 to $139.00 and set a “neutral” rating for the company in a report on Thursday, November 21st. Finally, Stifel Nicolaus increased their price objective on shares of Target from $137.00 to $145.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $157.70.

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.