Pinnacle Financial Partners Inc Cuts Position in Target Co. (NYSE:TGT)

Pinnacle Financial Partners Inc lessened its holdings in Target Co. (NYSE:TGT) by 12.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,847 shares of the retailer’s stock after selling 1,268 shares during the period. Pinnacle Financial Partners Inc’s holdings in Target were worth $1,301,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TGT. Legacy Investment Solutions LLC purchased a new position in shares of Target in the 3rd quarter worth approximately $28,000. MCF Advisors LLC lifted its stake in Target by 175.3% in the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after purchasing an additional 163 shares during the last quarter. Raleigh Capital Management Inc. lifted its stake in Target by 110.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock valued at $35,000 after purchasing an additional 135 shares during the last quarter. FSA Wealth Management LLC purchased a new position in Target in the third quarter valued at approximately $36,000. Finally, Catalyst Capital Advisors LLC purchased a new position in Target in the third quarter valued at approximately $38,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Down 2.9 %

TGT opened at $124.40 on Monday. The stock has a market cap of $57.00 billion, a PE ratio of 13.19, a P/E/G ratio of 1.94 and a beta of 1.15. 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 Co. has a 52 week low of $120.21 and a 52 week high of $181.86. The business’s fifty day simple moving average is $134.41 and its 200 day simple moving average is $142.80.

Target Dividend Announcement

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 paid 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 3.60%. Target’s dividend payout ratio is presently 47.51%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. HSBC downgraded Target from a “buy” rating to a “hold” rating and set a $138.00 price objective on the stock. in a research note on Wednesday, November 20th. Guggenheim upped their price objective on Target from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. dropped their price objective on Target from $167.00 to $139.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. Piper Sandler dropped their price objective on Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. Finally, Wells Fargo & Company lowered their target price on shares of Target from $180.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. One equities 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, Target presently has an average rating of “Hold” and an average price target of $157.70.

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.