Sumitomo Life Insurance Co. Trims Holdings in Target Co. (NYSE:TGT)

Sumitomo Life Insurance Co. lowered its stake in shares of Target Co. (NYSE:TGT) by 3.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 8,162 shares of the retailer’s stock after selling 255 shares during the period. Sumitomo Life Insurance Co.’s holdings in Target were worth $1,103,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TGT. Legacy Investment Solutions LLC purchased a new stake in shares of Target in the 3rd quarter valued at $28,000. Wolff Wiese Magana LLC grew its position in Target by 156.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after acquiring an additional 133 shares in the last quarter. FSA Wealth Management LLC purchased a new stake in Target during the third quarter worth about $36,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Target during the third quarter worth about $38,000. Finally, MCF Advisors LLC boosted its stake in shares of 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 period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Bank of America cut their target price on shares of Target from $195.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Daiwa America cut Target from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Telsey Advisory Group reissued an “outperform” rating and set a $150.00 target price on shares of Target in a research note on Friday, January 17th. Roth Mkm reduced their price target on Target from $157.00 to $131.00 and set a “neutral” rating on the stock in a research report on Thursday, November 21st. Finally, 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 research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $157.70.

Target Stock Performance

NYSE TGT opened at $140.28 on Thursday. The business’s 50-day moving average price is $133.80 and its 200 day moving average price is $144.64. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The firm has a market cap of $64.28 billion, a P/E ratio of 14.88, a P/E/G ratio of 2.21 and a beta of 1.16. Target Co. has a 52-week low of $120.21 and a 52-week high of $181.86.

Target (NYSE:TGT) last released its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $25.23 billion during the quarter, compared to analyst estimates of $25.87 billion. During the same period in the previous year, the firm posted $2.10 EPS. The company’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities research analysts expect that Target Co. will post 8.68 earnings per share for the current year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Wednesday, February 12th. Target’s dividend payout ratio (DPR) is presently 47.51%.

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.