Los Angeles Capital Management LLC Sells 595,187 Shares of Target Co. (NYSE:TGT)

Los Angeles Capital Management LLC reduced its stake in shares of Target Co. (NYSE:TGT) by 88.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,470 shares of the retailer’s stock after selling 595,187 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Target were worth $10,202,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. abrdn plc raised its stake in shares of Target by 5.8% during the third quarter. abrdn plc now owns 676,770 shares of the retailer’s stock valued at $104,436,000 after acquiring an additional 37,353 shares in the last quarter. Fidelis Capital Partners LLC increased its holdings in Target by 15.5% during the 3rd quarter. Fidelis Capital Partners LLC now owns 5,639 shares of the retailer’s stock worth $835,000 after purchasing an additional 755 shares during the period. Avitas Wealth Management LLC raised its position in Target by 1.2% during the 3rd quarter. Avitas Wealth Management LLC now owns 29,551 shares of the retailer’s stock valued at $4,606,000 after purchasing an additional 347 shares in the last quarter. Mutual Advisors LLC lifted its holdings in shares of Target by 16.4% in the 3rd quarter. Mutual Advisors LLC now owns 21,386 shares of the retailer’s stock worth $3,212,000 after buying an additional 3,014 shares during the period. Finally, Trajan Wealth LLC grew its position in shares of Target by 15.6% during the 3rd quarter. Trajan Wealth LLC now owns 52,650 shares of the retailer’s stock worth $8,206,000 after buying an additional 7,093 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Target Stock Down 2.6 %

Target stock opened at $124.05 on Thursday. The business’s 50-day simple moving average is $134.06 and its two-hundred day simple moving average is $142.56. 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 company has a market cap of $56.84 billion, a PE ratio of 13.15, a PEG ratio of 1.94 and a beta of 1.15. Target Co. has a fifty-two week low of $120.21 and a fifty-two week high of $181.86.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be given a $1.12 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a yield of 3.61%. Target’s dividend payout ratio is currently 47.51%.

Wall Street Analyst Weigh In

TGT has been the subject of several recent research reports. 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. StockNews.com upgraded shares of Target from a “hold” rating to a “buy” rating in a report on Saturday, February 22nd. Citigroup increased their price objective on shares of Target from $130.00 to $133.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Hsbc Global Res downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Piper Sandler dropped their target price on Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Target presently has an average rating of “Hold” and an average price target of $157.93.

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.