CIBC Private Wealth Group LLC Sells 13,201 Shares of Target Co. (NYSE:TGT)

CIBC Private Wealth Group LLC trimmed its stake in shares of Target Co. (NYSE:TGT) by 23.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,941 shares of the retailer’s stock after selling 13,201 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Target were worth $5,797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in TGT. Legacy Investment Solutions LLC acquired a new position in shares of Target in the 3rd quarter worth approximately $28,000. Hopwood Financial Services Inc. acquired a new position in Target in the fourth quarter valued at $29,000. MCF Advisors LLC lifted its holdings in Target by 175.3% in the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after buying an additional 163 shares during the period. Raleigh Capital Management Inc. grew its holdings in Target by 110.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after acquiring an additional 135 shares during the period. Finally, OFI Invest Asset Management bought a new position in shares of Target in the 4th quarter worth about $36,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Trading Up 0.0 %

NYSE:TGT opened at $104.37 on Wednesday. Target Co. has a 52 week low of $100.50 and a 52 week high of $177.89. The firm has a 50-day moving average price of $121.72 and a two-hundred day moving average price of $135.75. 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 cap of $47.55 billion, a price-to-earnings ratio of 11.07, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18.

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. Target had a return on equity of 31.11% and a net margin of 4.06%. The company had revenue of $30.92 billion during the quarter, compared to the consensus estimate of $30.83 billion. On average, equities analysts expect that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s dividend payout ratio (DPR) is currently 50.56%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wells Fargo & Company cut their target price on Target from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Truist Financial cut their price target on Target from $134.00 to $124.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. DA Davidson lowered their price objective on shares of Target from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Jefferies Financial Group cut their target price on shares of Target from $165.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Finally, Roth Mkm reaffirmed a “neutral” rating and issued a $122.00 price target (down from $131.00) on shares of Target in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $142.90.

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.