Parallel Advisors LLC Sells 727 Shares of Target Co. (NYSE:TGT)

Parallel Advisors LLC decreased its position in shares of Target Co. (NYSE:TGT) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,736 shares of the retailer’s stock after selling 727 shares during the quarter. Parallel Advisors LLC’s holdings in Target were worth $1,451,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in Target by 8.3% during the 3rd quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock worth $5,530,576,000 after purchasing an additional 2,732,801 shares during the last quarter. FMR LLC raised its holdings in Target by 11.7% during the 3rd quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock worth $1,555,542,000 after purchasing an additional 1,046,044 shares during the last quarter. Geode Capital Management LLC raised its holdings in Target by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,414,025 shares of the retailer’s stock worth $1,461,456,000 after purchasing an additional 130,691 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Target by 6.5% during the 4th quarter. Bank of New York Mellon Corp now owns 3,832,585 shares of the retailer’s stock worth $518,089,000 after purchasing an additional 234,409 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Target by 1.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,321,055 shares of the retailer’s stock worth $517,620,000 after purchasing an additional 62,916 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Daiwa Capital Markets lowered shares of Target from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $170.00 to $130.00 in a report on Tuesday, November 26th. HSBC downgraded shares of Target from a “buy” rating to a “hold” rating and set a $138.00 price objective for the company. in a research report on Wednesday, November 20th. Wells Fargo & Company reduced their price objective on shares of Target from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. Citigroup reduced their price objective on shares of Target from $133.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. Finally, Truist Financial reduced their price objective on shares of Target from $134.00 to $124.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $145.87.

Target Trading Down 1.1 %

NYSE TGT opened at $104.55 on Wednesday. The stock has a market capitalization of $47.63 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 1.94 and a beta of 1.18. Target Co. has a one year low of $103.46 and a one year high of $181.86. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The business’s fifty day moving average is $127.98 and its 200-day moving average is $138.95.

Target (NYSE:TGT) last released its earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. The company had revenue of $30.92 billion for the quarter, compared to analysts’ expectations of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Equities research analysts predict that Target Co. will post 8.69 EPS for the current year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s payout ratio is 50.56%.

Target Company 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.