Lowe Brockenbrough & Co. Inc. Trims Position in Target Co. (NYSE:TGT)

Lowe Brockenbrough & Co. Inc. decreased its holdings in shares of Target Co. (NYSE:TGT) by 7.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,503 shares of the retailer’s stock after selling 3,647 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in Target were worth $5,881,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in Target in the 3rd quarter valued at about $28,000. Hopwood Financial Services Inc. acquired a new stake in shares of Target in the fourth quarter worth approximately $29,000. MCF Advisors LLC grew 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 purchasing an additional 163 shares during the period. Raleigh Capital Management Inc. grew 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 purchasing an additional 135 shares during the period. Finally, FSA Wealth Management LLC acquired a new position in Target during the third quarter worth approximately $36,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TGT. Truist Financial lowered their price objective on shares of Target from $134.00 to $124.00 and set a “hold” rating for the company in a research note on Wednesday, March 5th. TD Cowen lowered their price target on Target from $165.00 to $145.00 and set a “hold” rating for the company in a research report on Thursday, November 21st. JPMorgan Chase & Co. cut their price objective on Target from $146.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Piper Sandler decreased their target price on Target from $132.00 to $124.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. Finally, Telsey Advisory Group cut their price target on shares of Target from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Target presently has a consensus rating of “Hold” and an average price target of $145.55.

Target Stock Performance

Shares of Target stock opened at $104.19 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. Target Co. has a 1 year low of $103.46 and a 1 year high of $181.86. The firm’s 50-day simple moving average is $126.64 and its 200-day simple moving average is $138.47. The firm has a market cap of $47.47 billion, a PE ratio of 11.05, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18.

Target (NYSE:TGT) last released 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. Target had a return on equity of 31.11% and a net margin of 4.06%. The company had revenue of $30.92 billion for the quarter, compared to the consensus estimate of $30.83 billion. Equities analysts forecast that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s dividend payout ratio (DPR) is presently 50.56%.

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.