Bruce G. Allen Investments LLC Lowers Holdings in Target Co. (NYSE:TGT)

Bruce G. Allen Investments LLC cut its position in shares of Target Co. (NYSE:TGT) by 52.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 404 shares of the retailer’s stock after selling 449 shares during the period. Bruce G. Allen Investments LLC’s holdings in Target were worth $55,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. State Street Corp lifted its stake in Target by 8.3% in the third quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock worth $5,530,576,000 after acquiring an additional 2,732,801 shares during the period. FMR LLC increased its holdings in Target by 11.7% during the third quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock valued at $1,555,542,000 after buying an additional 1,046,044 shares during the period. Geode Capital Management LLC raised its stake in Target by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,414,025 shares of the retailer’s stock worth $1,461,456,000 after buying an additional 130,691 shares in the last quarter. Legal & General Group Plc lifted its holdings in Target by 6.8% during the second quarter. Legal & General Group Plc now owns 4,374,851 shares of the retailer’s stock worth $647,652,000 after buying an additional 279,656 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Target by 1.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,321,055 shares of the retailer’s stock valued at $517,620,000 after acquiring an additional 62,916 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Stock Performance

TGT traded up $3.39 during trading on Friday, hitting $141.61. 4,454,624 shares of the stock were exchanged, compared to its average volume of 4,368,185. The firm has a market capitalization of $64.89 billion, a P/E ratio of 15.02, a PEG ratio of 2.23 and a beta of 1.16. Target Co. has a 1-year low of $120.21 and a 1-year high of $181.86. The stock has a fifty day moving average price of $137.77 and a two-hundred day moving average price of $145.60. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The business had revenue of $25.23 billion during the quarter, compared to analysts’ expectations of $25.87 billion. During the same quarter last year, the company earned $2.10 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, sell-side analysts predict that Target Co. will post 8.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. BMO Capital Markets decreased their price objective on Target from $160.00 to $120.00 and set a “market perform” rating for the company in a research note on Thursday, November 21st. Wells Fargo & Company lowered their price target on shares of Target from $180.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Daiwa Capital Markets cut shares of Target from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $170.00 to $130.00 in a research report on Tuesday, November 26th. Hsbc Global Res lowered shares of Target from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Piper Sandler lowered their price objective on Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $160.57.

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.