Cumberland Partners Ltd Cuts Stock Holdings in Target Co. (NYSE:TGT)

Cumberland Partners Ltd trimmed its position in shares of Target Co. (NYSE:TGT) by 4.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,850 shares of the retailer’s stock after selling 400 shares during the quarter. Cumberland Partners Ltd’s holdings in Target were worth $1,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Rakuten Securities Inc. bought a new position in shares of Target in the fourth quarter worth approximately $29,000. Tower View Wealth Management LLC increased its position in shares of Target by 82.8% in the third quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock worth $26,000 after purchasing an additional 106 shares during the last quarter. Friedenthal Financial bought a new position in shares of Target in the fourth quarter worth approximately $45,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Target in the fourth quarter worth approximately $49,000. Finally, MV Capital Management Inc. increased its position in shares of Target by 200.8% in the fourth quarter. MV Capital Management Inc. now owns 361 shares of the retailer’s stock worth $51,000 after purchasing an additional 241 shares during the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Trading Down 0.2 %

Shares of NYSE TGT traded down $0.38 during trading hours on Wednesday, hitting $166.13. 1,454,311 shares of the company traded hands, compared to its average volume of 3,707,211. The stock has a market capitalization of $76.70 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 1.57 and a beta of 1.14. The company has a current ratio of 0.91, a quick ratio of 0.29 and a debt-to-equity ratio of 1.11. The company’s 50 day moving average price is $164.45 and its 200 day moving average price is $142.30. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86.

Target (NYSE:TGT) last released its earnings results on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.57. The firm had revenue of $31.47 billion for the quarter, compared to the consensus estimate of $31.83 billion. Target had a return on equity of 33.41% and a net margin of 3.85%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.89 EPS. On average, equities research analysts anticipate that Target Co. will post 9.39 earnings per share for the current fiscal year.

Target Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Tuesday, May 14th. Target’s payout ratio is currently 49.27%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TGT. Truist Financial upped their target price on Target from $142.00 to $160.00 and gave the stock a “hold” rating in a research note on Wednesday, March 6th. Stifel Nicolaus upped their target price on Target from $153.00 to $177.00 and gave the stock a “hold” rating in a research note on Wednesday, March 6th. Evercore ISI dropped their price objective on Target from $183.00 to $180.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. UBS Group reissued a “buy” rating and set a $174.00 price objective on shares of Target in a research note on Tuesday, March 5th. Finally, Guggenheim raised their price target on Target from $160.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Eleven analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Target has a consensus rating of “Moderate Buy” and an average target price of $181.85.

Insider Activity at Target

In related news, insider Melissa K. Kremer sold 3,000 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $165.05, for a total transaction of $495,150.00. Following the completion of the transaction, the insider now owns 30,527 shares in the company, valued at approximately $5,038,481.35. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Target news, insider Melissa K. Kremer sold 3,000 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $165.05, for a total value of $495,150.00. Following the completion of the sale, the insider now directly owns 30,527 shares in the company, valued at approximately $5,038,481.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christina Hennington sold 4,600 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $170.88, for a total value of $786,048.00. Following the completion of the sale, the insider now owns 38,487 shares of the company’s stock, valued at $6,576,658.56. The disclosure for this sale can be found here. Insiders sold a total of 52,600 shares of company stock worth $8,819,598 in the last quarter. 0.23% of the stock is owned by company insiders.

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.