First Hawaiian Bank Reduces Holdings in Target Co. (NYSE:TGT)

First Hawaiian Bank has significantly reduced its holdings in Target Co. (NYSE:TGT) by 54.1% during the fourth quarter, as revealed in its latest 13F filing with the Securities and Exchange Commission. Following the sale of 3,330 shares during this quarter, the bank now owns 2,822 shares of the retailer, which are valued at approximately $381,000 according to the filing.

Several other institutional investors also adjusted their positions in Target recently. For example, State Street Corp increased its stake by 8.3% in the third quarter, acquiring an additional 2,732,801 shares, bringing its total holdings to 35,484,252 shares valued at around $5.53 billion. International Assets Investment Management LLC made a remarkable increase of 9,940.6% during the same period, now holding 2,001,391 shares worth $311.94 million after buying 1,981,458 shares. Similarly, Two Sigma Advisers LP raised its stake by 173.2%, now owning 2,369,400 shares valued at about $369.30 million after adding 1,502,200 shares in the last quarter. FMR LLC also boosted its position by 11.7%, now owning a total of 9,980,381 shares worth $1.56 billion after acquiring an additional 1,046,044 shares. Additionally, AQR Capital Management LLC significantly increased its holdings by 711.2% during the second quarter, now possessing 876,531 shares valued at $129.76 million after purchasing an extra 768,479 shares. In total, 79.73% of the stock is currently held by institutional investors and hedge funds.

Analyst Ratings Changes

Recent evaluations by research analysts concerning Target’s stock have been varied. Deutsche Bank Aktiengesellschaft downgraded Target from a “buy” to a “hold” rating and lowered its price target from $184.00 to $108.00 on November 20th. The following day, BMO Capital Markets also reduced its target price from $160.00 to $120.00, maintaining a “market perform” rating. Likewise, JPMorgan Chase & Co. cut their price target from $167.00 to $139.00, issuing a “neutral” rating. Evercore ISI adjusted their target price downwards from $165.00 to $130.00, and Guggenheim lowered their target from $180.00 to $145.00 while keeping a “buy” rating. Currently, one analyst has rated the stock as a sell, while seventeen analysts suggest holding, and fifteen recommend buying. According to MarketBeat, Target holds a consensus rating of “Hold” with an average price target of $160.57.

Target Price Performance

The stock of Target opened at $141.78 recently. Currently, its 50-day moving average stands at $137.58, while the 200-day moving average is at $145.54. Over the past year, Target’s share price reached a low of $120.21 and a high of $181.86. The retailer has a market capitalization of $64.97 billion, a price-to-earnings ratio of 15.03, and a PEG ratio of 2.21. Its beta is 1.17, and the company has a current ratio of 0.94, a quick ratio of 0.25, and a debt-to-equity ratio of 0.99.

Target last reported its quarterly earnings on November 20th, showing earnings per share (EPS) of $1.85, which fell short of analysts' expectations of $2.30. The company's revenue for the quarter totaled $25.23 billion, compared to the forecast of $25.87 billion. Target recorded a net margin of 4.06% and a return on equity of 31.11%. When compared to the same quarter last year, revenue increased by 0.9%. In the previous year, Target had reported an EPS of $2.10. Analysts forecast that Target Co. will achieve 8.6 EPS for the current year.

Target Profile

Target Corporation operates as a general merchandise retailer in the United States, offering a variety of products, including apparel for all ages, beauty and personal care items, baby supplies, cleaning and paper products, as well as pet supplies.

Bank, Target, Finances