Assetmark Inc. Lowers Position in Target Co. (NYSE:TGT)

Assetmark Inc. trimmed its position in shares of Target Co. (NYSE:TGT) by 47.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,208 shares of the retailer’s stock after selling 4,782 shares during the quarter. Assetmark Inc.’s holdings in Target were worth $704,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Cynosure Group LLC boosted its holdings in Target by 4.3% during the third quarter. Cynosure Group LLC now owns 1,590 shares of the retailer’s stock worth $248,000 after purchasing an additional 65 shares during the last quarter. Hancock Whitney Corp lifted its position in shares of Target by 3.3% during the 3rd quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock worth $336,000 after buying an additional 68 shares in the last quarter. Kathmere Capital Management LLC boosted its stake in shares of Target by 3.0% in the 4th quarter. Kathmere Capital Management LLC now owns 2,541 shares of the retailer’s stock worth $343,000 after buying an additional 73 shares during the last quarter. Cahill Financial Advisors Inc. grew its holdings in shares of Target by 1.0% in the third quarter. Cahill Financial Advisors Inc. now owns 7,490 shares of the retailer’s stock valued at $1,197,000 after acquiring an additional 76 shares in the last quarter. Finally, Summit Financial Wealth Advisors LLC increased its position in shares of Target by 2.5% during the third quarter. Summit Financial Wealth Advisors LLC now owns 3,100 shares of the retailer’s stock valued at $483,000 after acquiring an additional 76 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. DA Davidson lowered their price objective on shares of Target from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. UBS Group dropped their price objective on Target from $170.00 to $155.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Oppenheimer decreased their target price on Target from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Wells Fargo & Company dropped their price target on Target from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Finally, Daiwa Capital Markets lowered Target from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $170.00 to $130.00 in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Target presently has an average rating of “Hold” and a consensus target price of $145.87.

Target Trading Down 4.8 %

Shares of NYSE:TGT opened at $107.31 on Thursday. The stock has a 50 day moving average of $130.62 and a 200 day moving average of $140.51. The company has a market cap of $49.17 billion, a PE ratio of 11.38, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18. Target Co. has a 12-month low of $107.02 and a 12-month high of $181.86. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

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

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 4.17%. Target’s dividend payout ratio is currently 50.56%.

About Target

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.