Glenview Trust co Lowers Stock Position in Target Co. (NYSE:TGT)

Glenview Trust co trimmed its stake in Target Co. (NYSE:TGT) by 3.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 287,247 shares of the retailer’s stock after selling 11,675 shares during the period. Target accounts for 0.7% of Glenview Trust co’s portfolio, making the stock its 28th largest position. Glenview Trust co owned 0.06% of Target worth $38,830,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the company. State Street Corp boosted its holdings in Target by 8.3% in the third quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock worth $5,530,576,000 after acquiring an additional 2,732,801 shares in the last quarter. FMR LLC increased its position in shares of Target by 11.7% in the 3rd quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock valued at $1,555,542,000 after acquiring an additional 1,046,044 shares during the period. Geode Capital Management LLC raised its stake in shares of Target by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,414,025 shares of the retailer’s stock worth $1,461,456,000 after purchasing an additional 130,691 shares during the last quarter. Bank of New York Mellon Corp raised its position in Target by 6.5% during the 4th quarter. Bank of New York Mellon Corp now owns 3,832,585 shares of the retailer’s stock worth $518,089,000 after buying an additional 234,409 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Target by 1.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,321,055 shares of the retailer’s stock valued at $517,620,000 after purchasing an additional 62,916 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Performance

Shares of TGT stock opened at $104.71 on Friday. Target Co. has a one year low of $103.46 and a one year high of $181.86. The firm has a 50-day moving average of $129.35 and a 200-day moving average of $139.75. 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 company has a market cap of $47.70 billion, a P/E ratio of 11.10, a P/E/G ratio of 1.94 and a beta of 1.18.

Target (NYSE:TGT) last issued its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.17. The firm had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Equities research analysts forecast that Target Co. will post 8.69 EPS 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 paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s dividend payout ratio (DPR) is presently 50.56%.

Analysts Set New Price Targets

TGT has been the subject of several recent analyst reports. Bank of America cut their price target on shares of Target from $160.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. StockNews.com lowered shares of Target from a “buy” rating to a “hold” rating in a report on Wednesday. Daiwa America cut Target from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. HSBC lowered Target from a “buy” rating to a “hold” rating and set a $138.00 target price on the stock. in a research note on Wednesday, November 20th. Finally, Roth Capital set a $122.00 price target on shares of Target in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $145.87.

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.