Target Co. (NYSE:TGT) Position Cut by Clear Creek Financial Management LLC

Posted by Defense World Staff on Apr 2nd, 2023

Target logo Clear Creek Financial Management LLC trimmed its stake in Target Co. (NYSE:TGT – Get Rating) by 4.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,489 shares of the retailer’s stock after selling 69 shares during the quarter. Clear Creek Financial Management LLC’s holdings in Target were worth $222,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Fisher Asset Management LLC raised its stake in shares of Target by 122,068.9% during the third quarter. Fisher Asset Management LLC now owns 4,793,906 shares of the retailer’s stock valued at $711,368,000 after purchasing an additional 4,789,982 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Target by 20.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,177,540 shares of the retailer’s stock valued at $1,213,466,000 after purchasing an additional 1,401,559 shares in the last quarter. State Street Corp raised its stake in shares of Target by 2.6% during the third quarter. State Street Corp now owns 34,191,786 shares of the retailer’s stock valued at $5,073,719,000 after purchasing an additional 852,361 shares in the last quarter. Amundi raised its stake in shares of Target by 70.9% during the second quarter. Amundi now owns 1,749,200 shares of the retailer’s stock valued at $255,285,000 after purchasing an additional 725,396 shares in the last quarter. Finally, Truist Financial Corp raised its stake in shares of Target by 171.9% during the third quarter. Truist Financial Corp now owns 1,044,226 shares of the retailer’s stock valued at $154,954,000 after purchasing an additional 660,229 shares in the last quarter. 78.86% of the stock is currently owned by institutional investors.

Insider Activity

In other Target news, insider Brian C. Cornell sold 35,000 shares of the stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $158.98, for a total value of $5,564,300.00. Following the transaction, the insider now owns 191,272 shares of the company’s stock, valued at $30,408,422.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is currently owned by insiders.

Target Price Performance

Shares of TGT stock opened at $165.63 on Friday. The stock’s fifty day moving average is $166.16 and its 200-day moving average is $160.20. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.22 and a current ratio of 0.92. The stock has a market capitalization of $76.25 billion, a PE ratio of 27.70, a PEG ratio of 1.27 and a beta of 1.05. Target Co. has a 52 week low of $137.16 and a 52 week high of $254.87.

Target (NYSE:TGT – Get Rating) last announced its earnings results on Tuesday, February 28th. The retailer reported $1.89 EPS for the quarter, topping the consensus estimate of $1.40 by $0.49. Target had a return on equity of 25.63% and a net margin of 2.55%. The company had revenue of $31.40 billion for the quarter, compared to analysts’ expectations of $30.73 billion. During the same quarter in the prior year, the business earned $3.19 earnings per share. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. Equities research analysts expect that Target Co. will post 8.39 EPS for the current fiscal year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 10th. Stockholders of record on Wednesday, May 17th will be paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Tuesday, May 16th. Target’s dividend payout ratio (DPR) is presently 72.24%.

Analysts Set New Price Targets

TGT has been the topic of several research reports. Raymond James boosted their price target on shares of Target from $185.00 to $195.00 and gave the stock a “strong-buy” rating in a research report on Thursday, March 2nd. Telsey Advisory Group reiterated an “outperform” rating and issued a $185.00 price target on shares of Target in a research report on Wednesday, March 1st. Roth Capital reiterated a “neutral” rating on shares of Target in a research report on Wednesday, March 1st. Wells Fargo & Company cut shares of Target from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $170.00 to $142.00 in a research report on Wednesday, January 4th. Finally, Oppenheimer initiated coverage on shares of Target in a research report on Monday, January 23rd. They issued an “outperform” rating and a $190.00 price target on the stock. Thirteen research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $181.69.

Target Profile

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Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.