Target Co. (NYSE:TGT) Shares Sold by Forvis Mazars Wealth Advisors LLC

Forvis Mazars Wealth Advisors LLC trimmed its stake in shares of Target Co. (NYSE:TGT) by 4.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,977 shares of the retailer’s stock after selling 1,303 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Target were worth $3,782,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Thrivent Financial for Lutherans raised its position in shares of Target by 1.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock worth $4,368,000 after purchasing an additional 490 shares during the period. Wilmington Savings Fund Society FSB raised its position in shares of Target by 25.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer’s stock worth $2,430,000 after purchasing an additional 3,590 shares during the period. Northeast Financial Group Inc. acquired a new stake in shares of Target during the 4th quarter worth approximately $1,566,000. D.A. Davidson & CO. raised its position in shares of Target by 8.6% during the 3rd quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock worth $18,619,000 after purchasing an additional 9,510 shares during the period. Finally, LMG Wealth Partners LLC acquired a new stake in shares of Target during the 4th quarter worth approximately $1,438,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Telsey Advisory Group reissued an “outperform” rating and issued a $150.00 price objective on shares of Target in a report on Friday, January 17th. Oppenheimer reissued an “outperform” rating and issued a $165.00 price objective on shares of Target in a report on Monday, November 25th. Truist Financial increased their price objective on Target from $129.00 to $134.00 and gave the stock a “hold” rating in a report on Friday, January 17th. Wells Fargo & Company decreased their price objective on Target from $180.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Finally, Daiwa Capital Markets lowered Target from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $170.00 to $130.00 in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $157.70.

Target Price Performance

TGT opened at $124.40 on Friday. The stock has a fifty day moving average of $134.41 and a 200-day moving average of $142.74. The firm has a market capitalization of $57.00 billion, a P/E ratio of 13.19, a PEG ratio of 1.94 and a beta of 1.15. Target Co. has a 12-month low of $120.21 and a 12-month high of $181.86. 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 released its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The business 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%. Target’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.10 EPS. Equities analysts forecast that Target Co. will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be issued a $1.12 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.60%. Target’s payout ratio is currently 47.51%.

About Target

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.