PNC Financial Services Group Inc. Lowers Stock Position in Target Co. (NYSE:TGT)

PNC Financial Services Group Inc. cut its position in shares of Target Co. (NYSE:TGT) by 4.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 572,625 shares of the retailer’s stock after selling 28,123 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.12% of Target worth $77,407,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Aviance Capital Partners LLC grew its holdings in shares of Target by 48.7% in the fourth quarter. Aviance Capital Partners LLC now owns 3,469 shares of the retailer’s stock valued at $469,000 after acquiring an additional 1,136 shares in the last quarter. Oak Hill Wealth Advisors LLC boosted its position in Target by 200.0% in the fourth quarter. Oak Hill Wealth Advisors LLC now owns 2,525 shares of the retailer’s stock worth $341,000 after purchasing an additional 5,050 shares during the last quarter. Andra AP fonden grew its stake in Target by 8.2% in the 4th quarter. Andra AP fonden now owns 256,500 shares of the retailer’s stock valued at $34,674,000 after purchasing an additional 19,400 shares during the period. Edgestream Partners L.P. purchased a new stake in shares of Target during the 4th quarter valued at $1,289,000. Finally, Ashton Thomas Private Wealth LLC raised its stake in shares of Target by 13.1% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 49,648 shares of the retailer’s stock worth $6,711,000 after purchasing an additional 5,755 shares during the period. 79.73% of the stock is owned by institutional investors.

Target Price Performance

TGT opened at $115.11 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $52.74 billion, a P/E ratio of 12.21, a PEG ratio of 1.94 and a beta of 1.18. The stock has a 50-day moving average price of $132.05 and a 200-day moving average price of $141.49. Target Co. has a 12-month low of $112.10 and a 12-month high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.17. The business had revenue of $30.92 billion for the quarter, compared to analysts’ expectations of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Equities analysts predict that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th were given a dividend of $1.12 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $4.48 annualized dividend and a yield of 3.89%. Target’s payout ratio is 50.56%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Target from a “buy” rating to a “hold” rating and reduced their target price for the company from $184.00 to $108.00 in a research report on Wednesday, November 20th. StockNews.com downgraded Target from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Truist Financial dropped their price target on Target from $134.00 to $124.00 and set a “hold” rating on the stock in a research report on Wednesday. The Goldman Sachs Group decreased their price objective on Target from $166.00 to $142.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Sanford C. Bernstein boosted their price objective on Target from $139.00 to $142.00 and gave the company a “market perform” rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $147.00.

Target 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.