Formidable Asset Management LLC Sells 1,723 Shares of Target Co. (NYSE:TGT)

Formidable Asset Management LLC reduced its stake in shares of Target Co. (NYSE:TGT) by 15.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,585 shares of the retailer’s stock after selling 1,723 shares during the period. Formidable Asset Management LLC’s holdings in Target were worth $1,296,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of TGT. Advisory Alpha LLC bought a new position in Target during the 4th quarter worth $277,000. Mutual Advisors LLC raised its position in shares of Target by 46.8% in the 4th quarter. Mutual Advisors LLC now owns 31,392 shares of the retailer’s stock worth $4,183,000 after acquiring an additional 10,006 shares in the last quarter. Raleigh Capital Management Inc. raised its position in shares of Target by 110.7% in 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 in the last quarter. Avior Wealth Management LLC raised its position in shares of Target by 8.9% in the 4th quarter. Avior Wealth Management LLC now owns 4,700 shares of the retailer’s stock worth $635,000 after acquiring an additional 384 shares in the last quarter. Finally, Secure Asset Management LLC raised its position in shares of Target by 13.7% in the 4th quarter. Secure Asset Management LLC now owns 13,663 shares of the retailer’s stock worth $1,847,000 after acquiring an additional 1,648 shares in the last quarter. 79.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TGT. The Goldman Sachs Group lowered their price objective on Target from $101.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday. Piper Sandler set a $94.00 price objective on Target and gave the stock a “neutral” rating in a research report on Thursday. Wall Street Zen lowered Target from a “buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. Truist Financial lifted their price objective on Target from $82.00 to $90.00 and gave the stock a “hold” rating in a research report on Thursday. Finally, Evercore ISI lowered their price objective on Target from $130.00 to $120.00 and set an “in-line” rating for the company in a research report on Tuesday, April 1st. Two research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Target currently has a consensus rating of “Hold” and a consensus price target of $117.97.

Target Price Performance

Shares of NYSE TGT opened at $94.30 on Friday. Target Co. has a twelve month low of $87.35 and a twelve month high of $167.40. The stock’s 50 day moving average price is $97.28 and its 200-day moving average price is $120.16. The company has a market capitalization of $42.85 billion, a PE ratio of 10.00, a PEG ratio of 1.94 and a beta of 1.27. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last announced its earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). The business had revenue of $24.20 billion during the quarter, compared to analysts’ expectations of $24.54 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Target’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.03 EPS. On average, equities analysts anticipate that Target Co. will post 8.69 EPS for the current year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 annualized dividend and a dividend yield of 4.75%. Target’s dividend payout ratio is currently 50.56%.

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.