KCM Investment Advisors LLC Cuts Stock Holdings in Target Co. (NYSE:TGT)

KCM Investment Advisors LLC reduced its stake in Target Co. (NYSE:TGT) by 6.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,102 shares of the retailer’s stock after selling 975 shares during the quarter. KCM Investment Advisors LLC’s holdings in Target were worth $1,771,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of Target by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 9,885,015 shares of the retailer’s stock valued at $1,332,317,000 after purchasing an additional 470,990 shares during the last quarter. Norges Bank purchased a new stake in Target in the 4th quarter valued at about $757,892,000. Bank of New York Mellon Corp boosted its stake in shares of Target by 6.5% in 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 buying an additional 234,409 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Target by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,144,828 shares of the retailer’s stock valued at $425,118,000 after acquiring an additional 91,357 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Target in the fourth quarter valued at approximately $297,122,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Up 1.5 %

TGT opened at $95.70 on Friday. 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 business’s fifty day simple moving average is $119.41 and its 200 day simple moving average is $134.73. Target Co. has a 52 week low of $90.62 and a 52 week high of $173.05. The stock has a market cap of $43.60 billion, a PE ratio of 10.15, a P/E/G ratio of 1.94 and a beta of 1.28.

Target (NYSE:TGT) last announced its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, beating 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%. As a group, research analysts expect that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.68%. Target’s dividend payout ratio (DPR) is 50.56%.

Analyst Ratings Changes

TGT has been the topic of several research analyst reports. Piper Sandler cut their price objective on Target from $132.00 to $124.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. DA Davidson reduced their price target on shares of Target from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. UBS Group lowered their price objective on shares of Target from $170.00 to $155.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. KGI Securities set a $132.00 price target on shares of Target in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group dropped their price objective on Target from $165.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Target presently has a consensus rating of “Hold” and an average price target of $140.24.

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.