JGP Wealth Management LLC Sells 1,663 Shares of Target Co. (NYSE:TGT)

JGP Wealth Management LLC reduced its position in Target Co. (NYSE:TGT) by 10.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,712 shares of the retailer’s stock after selling 1,663 shares during the quarter. JGP Wealth Management LLC’s holdings in Target were worth $1,989,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. State Street Corp raised 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 purchasing an additional 2,732,801 shares in the last quarter. FMR LLC raised its holdings in Target by 11.7% in the third quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock worth $1,555,542,000 after purchasing an additional 1,046,044 shares in the last quarter. Geode Capital Management LLC raised its holdings in 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 in the last quarter. Legal & General Group Plc raised its holdings in Target by 6.8% in the second quarter. Legal & General Group Plc now owns 4,374,851 shares of the retailer’s stock worth $647,652,000 after purchasing an additional 279,656 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Target by 1.9% in 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 worth $517,620,000 after purchasing an additional 62,916 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Target Trading Down 1.1 %

Shares of TGT stock opened at $133.06 on Friday. The stock’s fifty day moving average is $136.81 and its two-hundred day moving average is $145.31. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The firm has a market capitalization of $60.97 billion, a P/E ratio of 14.11, a PEG ratio of 2.32 and a beta of 1.16. Target Co. has a fifty-two week low of $120.21 and a fifty-two week high of $181.86.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 4.06% and a return on equity of 31.11%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.10 EPS. Research analysts expect that Target Co. will post 8.6 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be issued a dividend of $1.12 per share. The ex-dividend date is Wednesday, February 12th. This represents a $4.48 annualized dividend and a dividend yield of 3.37%. Target’s dividend payout ratio is presently 47.51%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TGT. Daiwa America downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft downgraded shares of Target from a “buy” rating to a “hold” rating and cut their price objective for the company from $184.00 to $108.00 in a report on Wednesday, November 20th. Piper Sandler cut their price objective on shares of Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a report on Thursday, November 21st. Roth Mkm cut their price objective on shares of Target from $157.00 to $131.00 and set a “neutral” rating on the stock in a report on Thursday, November 21st. Finally, TD Cowen cut their price objective on shares of Target from $165.00 to $145.00 and set a “hold” rating on the stock in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $160.57.

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.