Chevy Chase Trust Holdings LLC Cuts Position in Target Co. (NYSE:TGT)

Chevy Chase Trust Holdings LLC lessened its position in shares of Target Co. (NYSE:TGT) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 304,393 shares of the retailer’s stock after selling 3,171 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.07% of Target worth $41,148,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans grew its holdings in Target by 1.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock valued at $4,368,000 after buying an additional 490 shares in the last quarter. Wilmington Savings Fund Society FSB grew its holdings in Target by 25.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer’s stock valued at $2,430,000 after buying an additional 3,590 shares in the last quarter. Northeast Financial Group Inc. purchased a new position in Target during the 4th quarter valued at approximately $1,566,000. D.A. Davidson & CO. lifted its stake in shares of Target by 8.6% in the 3rd quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock valued at $18,619,000 after purchasing an additional 9,510 shares during the last quarter. Finally, Prana Capital Management LP lifted its stake in shares of Target by 47.5% in the 3rd quarter. Prana Capital Management LP now owns 217,081 shares of the retailer’s stock valued at $33,834,000 after purchasing an additional 69,885 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Trading Down 0.6 %

Shares of NYSE:TGT opened at $127.86 on Friday. Target Co. has a 12-month low of $120.21 and a 12-month high of $181.86. The business’s fifty day simple moving average is $135.20 and its 200-day simple moving average is $143.34. The company has a market capitalization of $58.58 billion, a PE ratio of 13.56, a P/E/G ratio of 2.04 and a beta of 1.15. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last announced its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. During the same quarter last year, the firm earned $2.10 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year. As a group, equities research analysts predict that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be paid a dividend of $1.12 per share. The ex-dividend date is Wednesday, February 12th. This represents a $4.48 annualized dividend and a yield of 3.50%. Target’s dividend payout ratio (DPR) is 47.51%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Oppenheimer reaffirmed an “outperform” rating and issued a $165.00 price objective on shares of Target in a research note on Monday, November 25th. Daiwa America lowered Target from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. TD Cowen lowered their price objective on Target from $165.00 to $145.00 and set a “hold” rating for the company in a research note on Thursday, November 21st. Stifel Nicolaus raised their price objective on Target from $137.00 to $145.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. Finally, Hsbc Global Res lowered Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Target presently has an average 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.