Ethic Inc. Sells 39,832 Shares of Target Co. (NYSE:TGT)

Ethic Inc. lessened its stake in shares of Target Co. (NYSE:TGT) by 48.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,714 shares of the retailer’s stock after selling 39,832 shares during the period. Ethic Inc.’s holdings in Target were worth $5,774,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Bernard Wealth Management Corp. acquired a new stake in shares of Target in the 4th quarter valued at approximately $30,000. Hopwood Financial Services Inc. acquired a new position in Target during the fourth quarter worth $29,000. MCF Advisors LLC raised its position in Target by 175.3% during the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after acquiring an additional 163 shares in 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 acquiring an additional 135 shares during the last quarter. Finally, Legacy Investment Solutions LLC grew its position in shares of Target by 47.5% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock valued at $35,000 after acquiring an additional 85 shares during the period. 79.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TGT. Jefferies Financial Group cut their target price on shares of Target from $165.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Wells Fargo & Company cut their price objective on Target from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. UBS Group reduced their target price on Target from $170.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Mizuho started coverage on Target in a research note on Friday, April 11th. They issued a “neutral” rating and a $92.00 price target on the stock. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $122.00 price objective (down from $131.00) on shares of Target in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Target presently has an average rating of “Hold” and an average target price of $131.20.

Target Stock Performance

Shares of Target stock opened at $96.39 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The company has a market cap of $43.80 billion, a PE ratio of 10.22, a price-to-earnings-growth ratio of 1.94 and a beta of 1.27. The company has a 50 day moving average of $99.88 and a 200-day moving average of $123.80. Target Co. has a 1-year low of $87.35 and a 1-year high of $167.40.

Target (NYSE:TGT) last released its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.17. Target had a return on equity of 31.11% and a net margin of 4.06%. The firm had revenue of $30.92 billion during the quarter, compared to analysts’ expectations of $30.83 billion. As a group, equities research analysts forecast that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date is Wednesday, May 14th. Target’s dividend payout ratio is presently 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.