Cohen Klingenstein LLC Sells 7,185 Shares of Target Co. (NYSE:TGT)

Cohen Klingenstein LLC trimmed its holdings in shares of Target Co. (NYSE:TGT) by 22.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,505 shares of the retailer’s stock after selling 7,185 shares during the quarter. Cohen Klingenstein LLC’s holdings in Target were worth $3,448,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in Target during the 3rd quarter valued at about $28,000. Wolff Wiese Magana LLC raised its stake in shares of Target by 156.5% during the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after acquiring an additional 133 shares in the last quarter. FSA Wealth Management LLC purchased a new stake in shares of Target in the third quarter valued at approximately $36,000. Catalyst Capital Advisors LLC bought a new position in Target in the third quarter worth approximately $38,000. Finally, Reston Wealth Management LLC purchased a new position in Target during the 3rd quarter worth $41,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TGT. Evercore ISI lowered their target price on Target from $165.00 to $130.00 and set an “in-line” rating for the company in a report on Thursday, November 21st. Daiwa Capital Markets lowered shares of Target from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $170.00 to $130.00 in a research note on Tuesday, November 26th. Wells Fargo & Company cut their target price on shares of Target from $180.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Piper Sandler lowered their price target on shares of Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research report on Thursday, November 21st. Finally, Sanford C. Bernstein assumed coverage on shares of Target in a report on Tuesday, October 22nd. They set a “market perform” rating and a $168.00 price objective on the stock. 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 stock. According to MarketBeat, Target currently has an average rating of “Hold” and an average target price of $158.23.

Target Stock Up 0.3 %

Target stock opened at $133.62 on Friday. 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 stock has a market capitalization of $61.22 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 2.32 and a beta of 1.16. The business has a 50 day simple moving average of $136.45 and a 200-day simple moving average of $145.23. Target Co. has a 12 month low of $120.21 and a 12 month high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 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 analysts’ expectations of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Target’s revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.10 EPS. On average, analysts anticipate that Target Co. will post 8.6 EPS for the current fiscal year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Wednesday, February 12th. Target’s dividend payout ratio is presently 47.51%.

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.