Linscomb Wealth Inc. Cuts Stock Position in Target Co. (NYSE:TGT)

Linscomb Wealth Inc. lessened its stake in shares of Target Co. (NYSE:TGT) by 7.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,941 shares of the retailer’s stock after selling 340 shares during the period. Linscomb Wealth Inc.’s holdings in Target were worth $533,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. JFS Wealth Advisors LLC increased its stake in Target by 163.1% during the 3rd quarter. JFS Wealth Advisors LLC now owns 1,923 shares of the retailer’s stock valued at $300,000 after purchasing an additional 1,192 shares in the last quarter. Financial Advocates Investment Management grew its holdings in shares of Target by 1.2% during the third quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock valued at $894,000 after buying an additional 67 shares during the last quarter. Catalyst Financial Partners LLC increased its position in shares of Target by 14.0% during the third quarter. Catalyst Financial Partners LLC now owns 1,663 shares of the retailer’s stock valued at $259,000 after acquiring an additional 204 shares in the last quarter. HM Payson & Co. raised its holdings in Target by 12.5% in the 3rd quarter. HM Payson & Co. now owns 9,467 shares of the retailer’s stock worth $1,476,000 after acquiring an additional 1,053 shares during the last quarter. Finally, United Asset Strategies Inc. lifted its position in Target by 8.0% in the 3rd quarter. United Asset Strategies Inc. now owns 4,985 shares of the retailer’s stock valued at $777,000 after acquiring an additional 370 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Trading Up 1.5 %

Shares of TGT stock opened at $124.37 on Friday. The stock has a fifty day simple moving average of $133.77 and a two-hundred day simple moving average of $142.35. Target Co. has a 52-week low of $120.21 and a 52-week high of $181.86. The firm has a market capitalization of $56.99 billion, a PE ratio of 13.19, a PEG ratio of 1.94 and a beta of 1.15. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94.

Target Dividend Announcement

The firm 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 dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.60%. The ex-dividend date is Wednesday, February 12th. Target’s dividend payout ratio (DPR) is presently 47.51%.

Wall Street Analyst Weigh In

A number of research firms have commented on TGT. Daiwa Capital Markets lowered Target from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $170.00 to $130.00 in a report on Tuesday, November 26th. Daiwa America downgraded Target from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. Gordon Haskett cut shares of Target from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. Truist Financial lifted their price target on shares of Target from $129.00 to $134.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Finally, Bank of America decreased their price objective on shares of Target from $195.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $157.93.

About Target

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.