Mirae Asset Global Investments Co. Ltd. Cuts Stock Holdings in Target Co. (NYSE:TGT)

Mirae Asset Global Investments Co. Ltd. lessened its holdings in Target Co. (NYSE:TGT) by 60.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 52,220 shares of the retailer’s stock after selling 79,514 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Target were worth $7,071,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Virginia Wealth Management Group Inc. acquired a new position in Target during the fourth quarter worth $4,794,000. Hager Investment Management Services LLC purchased a new stake in shares of Target during the 4th quarter worth $39,000. Stratos Wealth Advisors LLC grew its stake in shares of Target by 28.7% during the 4th quarter. Stratos Wealth Advisors LLC now owns 8,903 shares of the retailer’s stock worth $1,204,000 after purchasing an additional 1,986 shares during the period. Stratos Wealth Partners LTD. increased its holdings in shares of Target by 32.6% in the 4th quarter. Stratos Wealth Partners LTD. now owns 22,679 shares of the retailer’s stock valued at $3,066,000 after purchasing an additional 5,573 shares in the last quarter. Finally, 1858 Wealth Management LLC increased its holdings in shares of Target by 46.4% in the 4th quarter. 1858 Wealth Management LLC now owns 3,234 shares of the retailer’s stock valued at $437,000 after purchasing an additional 1,025 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Price Performance

TGT opened at $131.29 on Friday. Target Co. has a 52-week low of $120.21 and a 52-week high of $181.86. The company has a 50 day moving average of $135.24 and a two-hundred day moving average of $143.98. The company has a market cap of $60.16 billion, a P/E ratio of 13.92, a P/E/G ratio of 2.24 and a beta of 1.15. 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 announced its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) 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 firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.10 earnings per share. On average, analysts expect that Target Co. will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The business 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 $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date is Wednesday, February 12th. Target’s dividend payout ratio is presently 47.51%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TGT shares. Citigroup upped their target price on shares of Target from $130.00 to $133.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Guggenheim raised their price objective on Target from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Evercore ISI decreased their target price on Target from $165.00 to $130.00 and set an “in-line” rating on the stock in a research report on Thursday, November 21st. Telsey Advisory Group restated an “outperform” rating and issued a $150.00 price target on shares of Target in a research report on Friday, January 17th. Finally, Bank of America decreased their price objective on shares of Target from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $157.70.

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.