Spirit of America Management Corp NY Sells 800 Shares of Target Co. (NYSE:TGT)

Spirit of America Management Corp NY lowered its position in shares of Target Co. (NYSE:TGT) by 7.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,330 shares of the retailer’s stock after selling 800 shares during the period. Spirit of America Management Corp NY’s holdings in Target were worth $1,396,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Thrivent Financial for Lutherans grew its position in Target by 1.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock worth $4,368,000 after purchasing an additional 490 shares during the period. Northeast Financial Group Inc. purchased a new position in shares of Target during the 4th quarter worth $1,566,000. D.A. Davidson & CO. boosted its stake in shares of Target by 8.6% during the 3rd quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock worth $18,619,000 after acquiring an additional 9,510 shares during the last quarter. Prana Capital Management LP boosted its stake in shares of Target by 47.5% during the 3rd quarter. Prana Capital Management LP now owns 217,081 shares of the retailer’s stock worth $33,834,000 after acquiring an additional 69,885 shares during the last quarter. Finally, Polianta Ltd boosted its stake in shares of Target by 39.2% during the 4th quarter. Polianta Ltd now owns 10,300 shares of the retailer’s stock worth $1,392,000 after acquiring an additional 2,900 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TGT. Hsbc Global Res cut shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. StockNews.com upgraded shares of Target from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Piper Sandler dropped their price target on shares of Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. Bank of America lowered their target price on shares of Target from $195.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Finally, Citigroup lifted their target price on shares of Target from $130.00 to $133.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Target has a consensus rating of “Hold” and a consensus target price of $157.70.

Target Stock Performance

Target stock opened at $135.57 on Wednesday. The company’s 50-day moving average price is $134.87 and its 200-day moving average price is $144.21. Target Co. has a twelve month low of $120.21 and a twelve month high of $181.86. 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 company has a market cap of $62.12 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 2.24 and a beta of 1.15.

Target (NYSE:TGT) last issued 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). The firm had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.10 earnings per share. On average, equities research analysts forecast that Target Co. will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $4.48 annualized dividend and a yield of 3.30%. Target’s payout ratio is 47.51%.

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.