1834 Investment Advisors Co. Reduces Stake in Target Co.

1834 Investment Advisors Co. has reduced its ownership in Target Co. (NYSE:TGT) by 8.0% during the last quarter of the year, as revealed in its latest 13F filing with the Securities and Exchange Commission. After selling 2,015 shares, the institutional investor now holds 23,138 shares of the retail giant, which are valued at approximately $3,128,000.

Recent Changes in Institutional Holdings

In addition to 1834 Investment Advisors Co., several other institutional investors and hedge funds have made adjustments to their stakes in Target. For instance, Thrivent Financial for Lutherans increased its stake by 1.8% in the third quarter, now owning 28,025 shares valued at $4,368,000 after buying an additional 490 shares. Similarly, D.A. Davidson & Co. boosted its position by 8.6% during the same quarter, resulting in ownership of 119,458 shares worth $18,619,000 after acquiring an additional 9,510 shares. Prana Capital Management LP saw a significant increase of 47.5% in its holdings, culminating in ownership of 217,081 shares valued at $33,834,000 following a purchase of an additional 69,885 shares.

Moreover, Polianta Ltd raised its stake by 39.2% in the fourth quarter, now holding 10,300 shares valued at $1,392,000 after buying an extra 2,900 shares. Leibman Financial Services Inc. also entered the fray by purchasing a new position in the fourth quarter, with a valuation of $2,272,000. Overall, institutional investors and hedge funds own 79.73% of Target's stock.

Analyst Ratings and Target Price

Recently, several analysts have shared their views on TGT shares. Evercore ISI reduced their price target for Target from $165.00 to $130.00, while assigning an "in-line" rating. Furthermore, HSBC Global Research downgraded its assessment from a "strong-buy" to a "hold" rating. JPMorgan Chase & Co. also decreased its price target from $167.00 to $139.00, designating a "neutral" rating for the company. On the other hand, Guggenheim raised its price target from $145.00 to $155.00, awarding Target a "buy" rating. Currently, one analyst has rated the stock as a sell, while sixteen analysts have assigned a hold rating and another sixteen have rated it as a buy. MarketBeat.com reports a consensus rating of "Hold" for Target, with an average target price of $158.57.

Target's Stock Performance

At the market close on Friday, NYSE:TGT was priced at $137.99. The stock has a fifty-day moving average price of $134.37 and a 200-day moving average price of $144.82. Target's market capitalization stands at $63.23 billion. Currently, it has a price-to-earnings (P/E) ratio of 14.63 and a price-to-earnings growth (PEG) ratio of 2.21. The retailer has a debt-to-equity ratio of 0.99 and current ratios of 0.94, with a quick ratio of 0.25. Target has experienced a one-year low of $120.21 and a one-year high of $181.86.

Recent Earnings Results

Target last announced its earnings results on November 20. The retailer reported earnings per share (EPS) of $1.85 for the quarter, falling short of analysts' expectations of $2.30 by $0.45. The firm achieved a return on equity of 31.11% and a net margin of 4.06%. The reported revenue for the quarter was $25.23 billion, lower than the anticipated $25.87 billion. Compared to the same quarter last year, the revenue saw an increase of 0.9%. Analysts project that Target will achieve an EPS of 8.68 for the current fiscal year.

Dividend Declaration

Recently, Target declared a quarterly dividend scheduled for payment on March 1. Shareholders on record by February 12 will receive $1.12 per share. The ex-dividend date is also set for February 12. This equates to an annualized dividend of $4.48, providing a yield of 3.25%. Currently, Target's dividend payout ratio stands at 47.51%.

Company Overview

Target Corporation is a general merchandise retailer located in the United States. The company provides a variety of products, including apparel for women, men, boys, girls, and infants, as well as jewelry, shoes, beauty products, baby gear, cleaning supplies, and pet products.

Target, Investors, Earnings